As part of the new F1 Delta Time game, which is an officially recognized blockchain collectible game from Formula 1 racing, some recently bought a car for $100,000. The virtual vehicle is powered to the max and will, therefore, provide a significant advantage in the game.
Bidding takes place in Wrapped Ether. The most recent sale ended for 415.9 Ether – nearly $110,000 at current prices. The car sold is a one-of-a-kind. The auction lays to rest any notions that there aren’t people who value digital property.
What blockchain brings to gaming is non-fungible tokens. These immutable tokens give players a real stake in the value of the chain as a whole. Markets are then created, and the time that people spend gaming suddenly has a value associated with it. People coming into games can spend a little bit to buy the better equipment sold by those leaving the games.
This Formula One auction is one of the more extreme examples from recent times. Few people enjoy spending over $100, let alone over $100,000, on video games. The game will have to see broader interest for the buyer to ever have a hope of recouping those kinds of funds for the item.