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Motorsports in the Metaverse!


BanditL33t

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UPDATED 13/04/2022 

I am an avid follower of Formula 1 and bunch of other motorsports. So you know I've been following how motorsport has been progressing in the NFT space! Motorsports fans have long been in the collectible space. I myself own a few collectible race-cars and over 30 autographed driver cards ranging from rookie DTM drivers to Formula E team principles and loads in between. Don't think lightly of racing as a market for NFTs, Formula 1 was the fastest-growing major sports league on the planet in terms of follower growth in 2021. Reaching 49.1m total followers and have seen the highest engagement rate with social posts compared to other major sports in 2021. We out here! 😂

This blog will keep you up to date on all the happenings in the Motorsport Metaverse. Where the NFTs are being listed. Which Crypto tokens are supporting the teams and even when drops happen! You're gonna get it ALL on this blog pr in the comments so have your notifications ON!

PARTNERSHIPS IN THE NFT SPACE

As of today, Veve hasn't brought in any sports collectibles at all. However, in previous AMAs we've heard David Yu say that they are coming. What we have seen though, is the rollout of many Automobile manufacturers like GM, Citroen, DS Automobiles and Aston Martin. I think the last two are the most interesting in terms of future potential. For instance, DS Automobiles has a very successful Formula E team while Aston Martin have, as of last year, acquired a Formula 1 team. That's a big deal. What's even bigger is that Aston Martin dropped the most expensive Veve collectible TO DATE. If that isn't bullish then I don't know what is. 🐂

James Bond Aston Martin DB5 NFT digital collectibles on VeVe | Bond  Lifestyle

Apart from the James Bond collaboration with Veve, Aston Martin Racing currently releases NFTs on the Crypto.com NFT platform and the team is also sponsored by Crypto.com ($CRO). The NFTs they drop are both picture/video format and 3D models of parts which can be assembled to create a finished car, a light form of gamification I suppose. They were the first F1 team to independently appear on the scene, right alongside Snoop Dogg's drop on the same platform.

what is an nft?

This part-based concept is very similar to the way McLaren F1 Racing has been releasing their own NFTs on Sweet.io which is the NFT platform powered by Tezos ($XTZ). They also do drops in the form of 3D models which could be assembled once the set is complete. Another member of the Sweet.io NFT family is Red Bull Racing, who have released very few NFTs, the coolest of which is a complete RB16b with a Japanese livery that retailed for $300 USD on the drop. I personally own a Sergio Perez race suit NFT, I love that thing.

McLaren has launched a second NFT series | Currency.com

NFT Red Bull Racing launches on Tezos | Medium

NASCAR has partnered with RACEDAY NFT who produce both commemorative tickets (think movie tickets) and Virtual Die-Casts, as they call them. Which is really cool to see, these remind me of the 1:6 cars that we have on Veve, as in they were meant to be virtual versions of a model car, rather than the 1:1 which are full size in AR. I guess this appeals to the die-cast collectors more than the ability to "sit" in the car. If you haven't scaled your 1:1 DeLorean up to full size around you while sitting in a comfy chair...go do it right now, you're missing out!

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GAMIFICATION

In terms of motorsport NFT gamification, two of the most prominent players in this segment are F1® Delta Time and MotoGP™ Ignition.

F1 Delta time was creating late 2019 as a partnership of liberty media and Hong-Kong based Animoca Brands. All the teams have agreed to allow their images and sponsors to be used on the platform. The platform uses Revv token. F1 Delta time market was making $100k+ sales as early as 2020. You would think they we're going to the moon! Which they absolutely did gaining thousands of users each month until... about about two weeks ago. When a shocking announcement by the official twitter revealed that they had not secured their license with F1 for another year.

image.png.a6c518382f5e6ae2f0a5e5ffdaff43f3.png

This situation sets Motorsport NFT gaming in an odd position, since we (as VeveFam) know that dependency on IP licensors is also huge to our platform. Hopefully, F1 can re-establish a partnership with another NFT platform, maybe even Veve? Shush.....Let me dream.😍

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MotoGP Ignition is happily skipping along, with more bike packs, riders and items added weekly. I personally have not deep dived into this one. It uses the same Revv token as F1 Delta Time. It's great to see that despite licensor hiccups, the gaming is going along smoothly and the opportunities for the Metaverse are growing quickly in this category.

In my opinion, partnerships with Automobile manufacturers can easily lead to partnership with Race teams for Veve. The AR capabilities of the Veve platform also bring some uniqueness into the space. I would love to see DS Automobiles drop their Formula E car on the app, instead of a road car. Which is HIGHLY possible.

So my Pairology World family, Does motorsport NFTs interest you? or maybe its something that would bring your family or friends into the NFT space?

Do you think the influx of cars and bikes on Veve will grow now that GM, Aston and Triumph are here?

Let's rev it out in the comments!

 

First big update! (13/04/2022)

Team Penske which currently runs in the Indy 500 have just announced a partnership with Autograph.io. This is the first motorsports team to team up with this NFT platform. Definitely something to watch. Will provide more info as I learn more 

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Edited by BanditL33t
Updated

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  • VIP

Great job Bandit!!!!!! You sure you aren't a writer for a living 🤣 I need all if the vehicles on Veve and would love to get more!!!!! Great write up my friend 😊

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7 minutes ago, Meldb said:

Great job on the post!! Very informative!

Thank you for the encouragement Mel! This is the first of many. I plan to keep adding whatever I learn about this particular space! The amount of physical collectibles in the racing space is also enormous.

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2 minutes ago, TLy said:

Great job Bandit!!!!!! You sure you aren't a writer for a living 🤣 I need all if the vehicles on Veve and would love to get more!!!!! Great write up my friend 😊

Thanks! I can assure you I am not. But I plan on bringing what I learned from F1 Fanvoice to Pairology World. Games will come next!

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Thanks for info Bandit and great writing!! You made me want to buy my first vehicle NFT on veve too!

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Not a follower of F1. But i defenitely love the story of F1 drivers Niki Lauda & James Hunt which i came across from the movie Rush. I am a huge car enthusiast and just love the iconic automobile NFT's we have in veve

Edited by RomY G N
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I've been following a few people who dabble in the F1 NFT space - but I am not familiar at all myself. Appreciate the info! F1 is definitely growing in the US, but I've found it hard to find a TV station that televises it! Formula 1: Drive to Survive is a great Netflix show that got me way more into racing 🔥

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Nice one Bandit! Good read. Used to love watching F1 races back when Jacques Villeneuve and Michael Schumacher were going at it! Sad what happened to Schumacher though. But yes I do believe there is potential in the NFT market for F1 since this is a world wide extravaganza event! 

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4 hours ago, RomY G N said:

Not a follower for F1. But i defenitely love the story of F1 drivers Niki Lauda & James Hunt which i came across from the movie Rush. I am a huge car enthusiasts and just love the iconic automobile NFT's we have in veve

Lauda is one of the greats! Rush is one of my favourite racing movies for the way it portrayed both of them, so real and intense.  Thanks for reading! 😁

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4 hours ago, ZappZaddy said:

I've been following a few people who dabble in the F1 NFT space - but I am not familiar at all myself. Appreciate the info! F1 is definitely growing in the US, but I've found it hard to find a TV station that televises it! Formula 1: Drive to Survive is a great Netflix show that got me way more into racing 🔥

The USGP and upcoming Miami GP might attract a LOT of the current IMSA, Indy and NASCAR fans. Hoping to reach the stands in Miami sometime soon! Drive to Survive is certainly making waves, love that you're expanding your knowledge.

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3 hours ago, Falconeti888 said:

Nice one Bandit! Good read. Used to love watching F1 races back when Jacques Villeneuve and Michael Schumacher were going at it! Sad what happened to Schumacher though. But yes I do believe there is potential in the NFT market for F1 since this is a world wide extravaganza event! 

I think the failure of F1 Delta Time to renew a license with Liberty Media (F1 license owners) blows this market wide open! I hope all NFT platforms are taking note. This could mean big opportunities.

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2 minutes ago, BanditL33t said:

Lauda is one of the greats! Rush is one of my favourite racing movies for the way it portrayed both of them, so real and intense.  Thanks for reading! 😁

Rush was such a phenomenal movie. Even coming from someone who wasn’t terribly into racing when I watched it - 10/10 for sure. Chris Hemsworth and Daniel Brühl had such amazing performances. 

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2 minutes ago, ZappZaddy said:

Rush was such a phenomenal movie. Even coming from someone who wasn’t terribly into racing when I watched it - 10/10 for sure. Chris Hemsworth and Daniel Brühl had such amazing performances. 

Agreed didn't have any high expectation when I decided to watch it but was really worth it. Really good movie! 

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3 minutes ago, BanditL33t said:

I think the failure of F1 Delta Time to renew a license with Liberty Media (F1 license owners) blows this market wide open! I hope all NFT platforms are taking note. This could mean big opportunities.

Interesting. If you hear anything on this, give a shout Bandit. 😅

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2 minutes ago, Falconeti888 said:

Agreed didn't have any high expectation when I decided to watch it but was really worth it. Really good movie! 

How’d you like Ford V Ferrari? 
 

Cant think of many more racing movies besides the Fast and Furious Fanchise 😂😂😂

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On 3/28/2022 at 9:24 PM, ZappZaddy said:

How’d you like Ford V Ferrari? 
 

Cant think of many more racing movies besides the Fast and Furious Fanchise 😂😂😂

Never watched Ford V Ferrari. Any good?

Besides Fast and the Furious the other racing move that comes to mind is Cars. Lol 

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7 minutes ago, Falconeti888 said:

Never watched Ford V Ferrari. Any good?

Besides Fast and the Furious the other racing move that comes to mind is Cars. Lol 

Ford v Ferrari is a good one. Also i beleive it's based on true story

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3 minutes ago, RomY G N said:

Ford v Ferrari is a good one. Also i beleive it's based on true story

Thank Romy! Will check it out when possible. 

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