Home News Need for Speed - The REVV Token: The Formula 1 Gaming Currency

Need for Speed – The REVV Token: The Formula 1 Gaming Currency

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REVV token

A new utility token has been created for use in motorsports games. Specifically, this token will work in games officially licensed by Formula 1 and Moto GP. The token and its games are developed by Animoca Brands, a successful publisher of mobile action and sports games.

One game has already been produced for the REVV token ecosystem. It is called F1 Delta Time. It features collectible cars, components, and drivers with variable stats. 

A motorcycle racing game licensed by Moto GP is also in development.

REVV token technical details

REVV is an Ethereum token that complies with the ERC-20 token standard. it can therefore be displayed in Metamask. It also complies with the ERC-165 standard. This helps to prevent transactions from failing due to unsupported function calls.

REVV features a contract operators whitelisting function that can allow nodes to process transactions without an ETH transaction fee. In this case, REVV is used to pay the transaction fee instead of ETH.

REVV token economics

A total of 3 billion REVV tokens exist. Here is a list of allocations for the token:

  • 250 million owned by early collectors
  • 250 million reserved for player rewards
  • 300 million owned by the team
  • 400 million reserved for Moto GP staking, operations, and marketing
  • 500 million reserved for Formula 1 Delta staking, operations, and marketing
  • 1.3 billion reserved for future projects

F1 Delta Time

F1 Delta Time

F1 Delta Time is a Formula 1 racing game that features collectible cars, components, and drivers.

Staking

Players can choose to stake their collectibles to earn a share of REVV revenue. However, they cannot play the game with their collectibles during the time these items are staked. So there is a tradeoff between staking and competing in the game.

Time Trial

Each day, players are presented with a new track that has different track conditions when compared to the previous day. Players must mix and match components to get the right setups to succeed on this track.

Each week, the highest ranking players for the week earn REVV rewards.

NFT stats

Each NFT associated with F1 Delta Time has a set of stats. For example, cars have top speed, acceleration, and grip, while drivers have stamina, concentration, and aggression.

These stats are determined by a combination of rarity and random number generation.

Moto GP

Moto GP is a motorcycle racing game that uses REVV. It is currently in development. Animoca brands has not given any details as to how the game will work. But it should feature collectible bikes and drivers and be similar to F1 Delta Time in many ways.

Other REVV Games

Once Moto GP is released, a third REVV game will be produced. The developer has not released any details about this third game except to say that it is in the conceptual stage of development.

Additional games will be produced if these three are successful.

Animoca Brands

Animoca Brands is a successful producer of traditional (non-blockchain) mobile games. its previous titles include Thomas and Friends: Race ON!, Crazy Defense Hero, Master Chef: Dream Plate, Astro Boy Dash, and others.

How to acquire REVV and associated NFTs

If you would like to acquire some REVV, the easiest and most fun way to do so is to win it by playing F1 Delta Time. But you’ll need a car and driver, so you may want to browse for one of each on OpenSea.

REVV can also be purchased from players and collectors at Uniswap.

Tom Blackstone
Tom Blackstone
Tom Blackstone is a former salesperson turned tech writer. Before 2014, he sold video games, computers, home theater systems, and other entertainment products. Since 2014, he has been a full time writer. His previous work includes ICO announcements, articles on the history of cryptocurrency, guides to Kodi addons, and more. He has always enjoyed learning about new technology and helping others to understand it. As a former video game salesperson, he also likes to try out new games and review them for others.

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