- F1 Delta Time closed earlier this year after licence expired
- Animoca CEO Robby Yung believes concept of ownership with transform gaming
Animoca Brands says creating a wider Web 3.0 ecosystem in which assets are transferable between multiple platforms is more important than securing licences for its blockchain-based sports games, but warns the industry is at least three years from that vision becoming a reality.
The company currently operates an officially licensed MotoGP game and has plans to create something similar for Formula E, both of which will exist alongside its wider ‘REVV’ sandbox platform.
However, its first foray into Blockchain-based gaming, F1 Delta Time, shut down earlier this year after Animoca was unable to renew its licence with Formula One. Players still owned the non-fungible token (NFTs) they had bought in game, but there were some concerns that the values of these items would be significantly lower because they had lost a significant part of their utility.
Speaking at Blackbook Motorsport Forum in London, Animoca Brands chief executive Robby Yung argued that the fact players retained ownership of the assets despite the closure was evidence of the benefits of Web 3.0 at work.
“All of these assets are still owned by the players and can be used in other platforms like our REVV games,” he said. “We urge others to create games that support those assets as…