Licensee of F1 blockchain game is suspended on Oz exchange ASX

Formula 1’s blockchain game F1 Delta Time announced it is auctioning non-fungible tokens (NFT) for 10 official team cars. NFT’s are tokens that represent unique items, often collectibles, as opposed to regular tokens which are more like interchangeable currencies or stocks. For the game, Formula One has granted a license to game developer Animoca Brands, a Hong Kong company listed on the Australian Securities Exchange, but the securities are currently suspended. The suspension in part relates to queries about the accounting for a token offering relating to another game.

The F1 game and collectibles

F1 Delta Time is based on the Ethereum blockchain and uses ERC-721 (non-fungible) and ERC-20 standards. The game allows users to own official F1 digital collectibles of cars, drivers and numerous components, which are NFTs and tradable in the game.

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