BlockchainBlockchain NewsCryptocurrency NewsEthereum NewsGeneral NewsNews

Blockchain Bidder Pays $113,000 in ETH Tokens for Crypto Collectable

On The Surface, MATIC May Have Reversed Ethereum On This Front, But What's Next?

A blockchain bidder pays more than 113,000 dollar worth of ETH tokens tied with a virtual race car. Precisely, the bidder goes by the pseudonymous name “09E282” who purchased the crypto collectable.

As per data, the auction for the collectable lasted for four days. Eventually, it ended on May 27 having 15 bidders who submitted about 40 bids.

However, the reason for the auction remains unclear. But, it shows that someone wanted the virtual car to use it for game purpose. Also, the company claims the game is fully licensed for Formula 1.

Similarly, the racing game of the company goes by the name F1 Delta Time. Interestingly, Animoca Brands is the company that made the game. As per matter of fact, the company gives license to properties and characters. It also builds mobile games for them. On the other hand, the game F1 Delta Time is a title which is blockchain based. Surprisingly, It bears official approval seal from Formula 1 race controlling company.

The car is the first product which was available for purchase in-game. The vehicle has a worth of more than 100,000 dollars for outside auction.

Suspicion rises calling the investment as bizarre

On the contrary, people question why someone needs to spend this huge money on something like a virtual car. Also, there are very fewer people understand a virtual car. While there are NFT based crypto games available, this investment is bizarre. People also raise suspicion on the investment because games are exciting and interesting like F1 Delta Time.

Similarly, there are doubts on Animoca Brands that it is using the auction to plant publicity for a new game.

Back in 2017, Cryptokitties rose high and saw many people spending money on virtual pets. Surprisingly, people pay in 6 figures for stuff like this.

Unsurprisingly, someone spends a huge amount for NFT or nonfungible token that represents a virtual racecar on ETH. The token has the same standard as that of ERC-721.

Moreover, this purchase might be a stunt or a mistake. But, one thing is sure; it is keeping a milestone in the path of success for cryptocurrencies.

F1 Delta Time followed Enjin offering crypto collectables

Previously, the blockchain based racing game; F1 Delta Time followed the steps of none other than Enjin. It offered crypto collectables to the users. The game runs on the blockchain of Ethereum. The game pivots around trading cars, different components, and drivers. However, these collectables and tokens are uniquely available for every person. And, the collectables are transferable into coins and even dismantling is possible.

The first racing car for collectables is 1-1-1 and was available earlier for $92,000.Since then, the craze was high, similar to the emergence of Cryptokitties. As per matter of fact, hundreds of them came into the market and slowed the blockchain of Ethereum. Hence, the transaction fees of Ethereum skyrocketed.

However, Ethereum improves and grows since that then. But, if the popularity of the game rises exponentially, the market will face the consequences. But, the damage will not be as high as Cryptokitties did.

Related Articles

How To Properly Accept Payments In Crypto


What Are the Best and Fastest Ways to Buy and Sell Bitcoin?


Bitcoin Hits Record High Above $72,000

Mridul Srivastava