F1® Delta Time players will soon become the first holders of the REVV token — the ERC-20 utility token which will be the primary currency in F1® Delta Time and other motorsport game titles (some media articles and Tweets stated that Staking is available now, but this is not correct).
From a total supply of 3,000,000,000 REVV, F1® Delta Time will be allocated 500,000,000 REVV tokens. This allocation will be split across four REVV pools that will power activity in the game: Reserve, Game Operations, Staking, and Marketing & Promotions.
Each of the REVV pools exists to serve a primary need for the F1® Delta Time ecosystem. But this allocation is not a cap, as REVV can be circulated into and out of F1® Delta Time through utility and also earned in other (future) titles.
Game Operations: 273,980,000
Marketing & Promotions: 20,000,000
All current verified accounts of F1® Delta Time will receive 50 REVV each to get started in the game. Additionally, players who participated in the 2019 Crate Sale earlier in the year will receive an amount of REVV on a per-crate basis, as reward for their participation in this sale.
REVV will be airdropped directly to the purchasing wallet
The verified account rewards are subject to a cut-off period, which will be announced on the F1® Delta Time social accounts soon. If you don’t have an account yet, be sure to head over to F1® Delta Time and create one in order to benefit from this free REVV giveaway.
The majority of REVV will be earned through play and features that reward players based on their ownership of race car NFTs and Tracks. Both the Time Trial and Grand Prix will reward REVV to players who place in winning positions on the weekly Leaderboards.
Based on the Leaderboards results, REVV prizes will be awarded to the Top-10 players in the Time Trial and the Top-3 players in the Grand Prix. The amount of REVV won for both these game modes will be dependent on the number of participants who contribute to the prize pools through the payment entry fees.
Every week, the Time Trial game mode will pool all REVV paid by players as entrance fees during the past week and distribute it as rewards for the top performing players.
The Grand Prix rewards are based on the number of participants of each race and the Tier of Grand Prix the player is participating in, with each race having a standalone pool which is used to provide the rewards of that race.
As well as the direct earning opportunities through gameplay, players will also be able to earn REVV by Staking. The Staking system will start by rewarding players who own and stake 2019 F1® Delta Time Car NFTs. We’ll be sharing a more in-depth look at Staking soon in a separate article.
Another opportunity for earning REVV comes in the form of dividends via Track ownership. In F1® Delta Time, Tracks, in the form of Track segments, are ownable NFTs. The owners of these NFTs receive a cut of all REVV spent to race on that particular Track.
We’ve outlined where you can expect to initially earn REVV, but the value of REVV comes from where and how it can be used.
REVV is used to enter the Grand Prix and Time Trial. The Time Trial has a set fee to enter, costing 10 REVV per-try (the ETH payment option will remain available).
The amount of REVV to enter the Grand Prix varies based on the Tier being entered, with a higher fee set to the higher Tier, Tier A being the highest. The fee structure also guarantees that participants in the highest Tier will receive the highest rewards — as long as they perform well.
REVV is also used to manage Tyre Durability. The Tyre Durability system will be released in the full release of the Grand Prix.
Each race performed on a set of Tyres lowers the stats, or condition, of the Tyres. Tyre Stats will return to normal over time, but the player can choose to pay REVV to fully restore their Tyres immediately. The REVV fee to restore Tyres will be dependent on how much the Tyres have degraded.
In addition to accessing the gameplay features, REVV will also be used to purchase F1® Delta Time 2020 Collectibles.
REVV will not be the only purchase option for all goods, and in some cases it won’t be an option at all. We will provide players with payment choice and flexibility where applicable.
This is a brief overview of what the initial REVV-powered F1® Delta Time economy will look like. REVV will provide robust in-game utility, and we are also investigating the option to apply real-money value to the token by listing it on a public exchange.
Soon you’ll be able to delve into these exciting and novel features that will allow you to play a thrilling Grand Prix while earning REVV based on your game assets and in-game investments. Stay tuned for more on the future of the F1® Delta Time platform.
We’ll be publishing a detailed look at Staking, outlining the nuts and bolts of how the system works, and what you can expect to earn as an owner of F1® Delta Time Collectibles.
Any questions, give us a shout!
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Originally published at https://medium.com on August 20, 2020.