The REVV token is a fungible digital asset that is used as in-game currency for several motorsports games released by Animoca Brands.
Blockchain gaming has been gaining ground in the community over the past 2 years, with the widespread acceptance of non-fungible tokens (NFTs) and creative minds like Animoca Brands, the future looks bright for the cryptocurrency sub-sector. As blockchain technology and versatility offer users unique sets of opportunities and use cases, the gaming space has seen a huge increase in decentralized projects.
Among the latest ventures is Animoca Brands F1 Delta Time, a racing game that relies heavily on decentralized funding, as the REVV token is the backbone behind its functionalities and features. Just like SAND in the popular game The Sandbox , REVV is the glue, merging gaming and DeFi within the highly interactive F1 Delta Time ecosystem.
REVV cryptocurrency opens up cryptocurrency enthusiasts blockchain and motorsport fans for a new gaming experience while maintaining the core values and concepts of blockchain.
In this article, we will discuss:
What is REVV token
Built on the Ethereum network, the newly introduced REVV token is a fungible digital asset. Furthermore, REVV is the exclusive token or in-game currency of several motor sports games released by Animoca Brands. Games like F1 Delta Time, MotoGP and Sandbox are among the very promising blockchain game projects produced by Animoca Brands.
Described as a true utility token, REVV is the conventional ERC-20 token used as a cross-title asset. In addition, coin is the backbone and driving force behind Animoca's Play to Win model. In general, the token allows holders or players to buy, trade and play blockchain driven games.
REVV is a unique and efficient token, as it allows multiple contract operators to whitelist to provide unapproved REVV token transfers, deep in the company's contract protocol and algorithm. In return, this allows participants to submit cryptographic transactions on the blockchain using the REVV token as the payment token for gas; thus not relying on the native ETH token.
Knowing more about the REVV token
At its core, REVV is a relatively new and ambitious venture by blockchain game developer Animoca Brands. The fungible asset plays a key role in the company's latest gaming project, F1 Delta Time. Running on the Ethereum blockchain, F1 Delta Time is a blockchain-based game released in March 2019 and has had considerable success in the blockchain community.
Animoca Brands, the team behind the project, has been a leader in the blockchain ecosystem for a few years and has launched many products such as The SANDbox, Garfield games and Crazy Defense Heroes. The team is made up of several experts in gaming and blockchain technology.
Animoca Brands exists since 2014; founded by Yat Siu in Hong Kong. The game company was able to form partnerships with companies such as HTC, Atari, Coincheck, iClick Interactive Asia Limited and Veloce Esports.
As early as 2020, the company recorded revenues of 38 million dollars and has already managed to raise 1 billion dollars in 2021 alone.
Future of the REVV cryptocurrency
Currently, Animoca Brands is also developing a blockchain game based on the FIM Road Racing World Championship Grand Prix, also known as MotoGP. According to the Animoca Brands team, “The MotoGP game will combine the experiences of strategy and management with the intense emotion of motorcycling. REVV will be the main currency of the MotoGP title, similar to the way it is used in F1 Delta Time”.
As of now, very little is known about the game's ongoing development, however, it is fair to assume that the token will be at the heart of its engine.
Token Savings
REVV Token Allocation
Overall, around 3.000.000.000 REVV tokens are circulating in the market, where 43,3% represent reserve and 30% have been allocated exclusively to Animoca Brand game projects. In addition, the team and consultants behind the token share about 10% of the token's distribution; The IDO and player reward pool also benefit from 8,33% of the token stock, respectively.
The team behind Animoca has ensured that the reserve REVV tokens will only be available when new projects are added to the REVV ecosystem. A total of 1.500.000 tokens are set to be taken from the player's reward pool and given out over 4 months to multiple players and F1 Delta participants.
This is scheduled to happen on upcoming aircraft, where F1 Delta Time 2019 box buyers, verified F1 Delta Time account holders, F1 Delta Time Apex car owners, and Crazy Defense Heroes NFT collectible card holders will be the beneficiaries.
As for the IDO allocation, it comprises about 7.500.000 REVV for a future Flash sale and tokens launched in Uniswap. Flash sales tokens have been reserved exclusively for F1 Delta players, with an initial offer price of $0,00666 per REVV. Therefore, in the initial 250.000.000 DEX offering on Uniswap, 150.000.000 tokens were sold for $0,00666 project partners and liquidity providers.
The REVV team has ensured that approximately 100.000.000 REVV is locked in securely. They were released over a 3-month period, which started in September 2020.
Use Cases for the REVV cryptocurrency
So far, REVV has proven to be a promising and effective tool for Animoca Brands. The token has a wide variety of use cases, namely:
NFT Purchases
As explained by the team behind the project, REVV is predominantly being used to purchase exclusive F1 Delta Time NFTs. It is understood that the total number of NFTs available for purchase will be directly proportional to the amount of REVV tokens in circulation.
Game registration fees
Animoca network players and participants must pay in REVV to enjoy F1 Delta Time and its game modes (Time Trial and Grand Prix)
Gameplay Rewards
A portion of the game fees collected in each race will be used as a player reward to be given to players based on their performance and result in the race. In addition, some parts of the game fees will also be paid as dividends to all track owners.
A game operation pool has already been introduced and is set to provide gameplay incentives as new features are released, increasing the rewards for initial engagement.
Staking
In general, race car owners (NFTs) are able to bet their NFTs to win REVV. The total amount of tokens to be won will be determined by the rarity and value of the NFT(s) as well as the length of the betting period. In addition, participants can also wager REVV tokens and in return receive additional dividends as well as NFT(s).
The 6.020.000 REVV Staking Pool has already been reserved for all 2019 Race Car NFTs, with this pool being active for 12 weeks after the launch of the Staking feature.
How does the REVV Racing tournament work?
If you already have a REVV Racing car NFT in your wallet, you are ready to compete. Each player gets 20 free spins in the tournament, so you can technically spend nothing and walk away with $12.000. In addition, Animoca Brands has promised to credit Polygon tokens to any wallet connected with an NFT race car.
Not surprisingly, with so much to offer, the REVV Racing tournament attracted a lot of attention. According to DappRadar, as news spread on social media, exclusive active wallets interacting with the game's smart contracts increased by 62%. Much of this can be attributed to first-time players getting their hands on cars to compete. But this also led to an increase in the number of transactions processed.
The REVV cryptocurrency is available on the following Exchangers
Conclusion
Predictably, blockchain games are gaining ground in the decentralized ecosystem. This is mainly due to the growing popularity of NFTs and the seemingly limitless versatile features of utility tokens like REVV, as the token manages to effectively blend games and DeFi within the highly interactive F1 Delta Time ecosystem and a soon-to-be gaming enterprise GP .
Similar to most digital tokens, REVV has the unique ability to connect traditional financing and blockchain technology. It gives owners the possibility to enjoy both gaming worlds with the attributes and advantages of blockchain technology.
