F1 Delta Time: here comes the staking of NFT tokens - The Cryptonomist
As announced by the F1 Delta Time company, the staking function for NFT (Non-Fungible Token) tokens will soon be introduced, which will thus generate revenue in REV tokens.
By leveraging blockchain, we're able to deliver new mechanics that add value to your content, and empower the player even further. Introducing NFT Staking: https://medium.com/@f1deltatime/f1-delta-time-announcing-nft-staking-15f29b7c0b18 …
F1® Delta Time: Announcing NFT Staking
A popular use case of blockchain technology in gaming has been the application of in-game Non-Fungible Tokens (NFTs) — cryptographic…
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These NFT tokens were launched several months ago, they are the official ones of F1 and, in addition to being collectable, in the future, they will be used to play within the Delta Time platform, somewhat as is the case with the more known CryptoKitties that often clogged the Ethereum blockchain.
Currently, some of these NFT tokens representing Ferrari cars have reached incredible values and the first token issued has exceeded 400 ETH.
In addition to the cars, there will also be tokens representing drivers, car components and even race tracks.
Through the new staking option, users who own these NFT tokens will be able to lock them on the F1 Delta Time platform and in return, they will be awarded a daily reward proportional to the rarity of the NFT staked. The revenue will then be paid in REV tokens.
Users can decide to remove the tokens from staking at any time and, if they wish, sell them to liquidate their investment.
Staking has recently become very popular along with the growth of the DeFi sector and an increasing number of companies are deciding to ride this wave and give their users the chance to earn by locking the tokens, probably because the crypto market, as far as prices are concerned, has certainly been through better times.
F1 Delta Time is developed by Animoca Brand and the first token was launched in May 2019 with an auction that, 12 hours before the end, had already reached a sales price of 189 ETH, for a counter value, at the time, exceeding 50,000 dollars.