Anyone in the world can create a digital token or assets. The Formula 1 is doing things a bit differently, although the approach is rather intriguing.<\/p>\n
As part of its new auction and contest, participants can win Ether and licensed digital collectibles.<\/p>\n
The Pole Position Auction contest is the first of its kind.<\/p>\n
Non-fungible tokens for all 10 team cards will go on auction.<\/p>\n
According to the website, five different levels of rarity of racing cars will exist.<\/p>\n
All of these tokens going live during this auction are of Epic rarity.<\/p>\n
Users participating in this event will be able to win prizes by predicting the order of sale for these cars.<\/p>\n
It does not cost any money to participate in this event, which is rather interesting.<\/p>\n
Prizes include F1 Delta Time Car Gear and Ether.<\/p>\n
This new blockchain-based game makes use of the ERC-721 and ERC-20 standards accordingly.<\/p>\n
As is the case with blockchain collectibles, the ultimate goal is to collect and trade as many assets as possible.<\/p>\n
It is not the first time companies decided to create non-fungible tokens that serve as collectibles either.<\/p>\n
Most of the ventures focusing on this aspect have not been able to captivate big audiences, unfortunately.<\/p>\n
Considering how this an officially licensed Formula 1 product, the venture may attract a lot more attention.<\/p>\n
It is intriguing to see major sports franchises such as the Formula 1 take this approach as of late.<\/p>\n
Engaging fans can be done in different ways, yet digital collectibles appear to be the way to go from this point forward.<\/p>\n
<\/p>\n
The rest is here: <\/p>\n
Digital Formula 1 Collectibles are Coming to the Ethereum Blockchain - The Merkle Hash<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Anyone in the world can create a digital token or assets. The Formula 1 is doing things a bit differently, although the approach is rather intriguing. As part of its new auction and contest, participants can win Ether and licensed digital collectibles Continue reading