F1 Delta Time, one of the first-ever licensed NFT games, has been shut down by Animoca Brands.
On March 15, the Hong Kong-based game software company announced on Twitter that the game will ”cease operations on 16 March 2022".
It is with deep regret that we announce that F1® Delta Time will cease operations on 16 March 2022. While we have not been able to renew our license, we will ensure that current owners of F1® Delta Time assets are rewarded for their loyalty and support.https://t.co/q8EspaC0Iv— REVV Motorsport (@REVVMotorsport) March 15, 2022
F1 Delta Time is an NFT game that is centered on the Ethereum cryptocurrency. Players could convert their Ethereum currency to Animoca's REVV utility token to purchase in-game items such as cars.
One player reportedly spent over US$100,000 worth of Ethereum on a jewel-encrusted car called the 1-1-1, which is “the most expensive NFT in 2019”, according to Decrypt.
As reported by PC Gamer, F1 Delta Time is shutting down because the game has lost its official license. As a consequence, all the NFTs that are included in the game have become worthless.
However, Animoca Brands is making an attempt to compensate its players who own their NFTs by offering them replacement tokens that can be used in their future projects.
This is a major blow for the future of NFTs in gaming as people now realize that investing their time and money in these crypto-based games could result in them potentially losing a lot of money.