In-depth Report: REVV Motorsport – Blockchain Racing Game Ecology

REVV Motorsport is a blockchain racing game ecosystem created by Animoca Brands, a blockchain gaming company, and REVV tokens are application tokens within the ecosystem.

REVV Motorsport is a “blockchain racing game ecosystem” created by Animoca Brands, a blockchain gaming company, and REVV tokens are the application tokens within the ecosystem. Currently REVV supports two games, Formula 1-based F1® Delta Time and MotoGP™ Ignition, and a third game, Formula E. REVV is a pioneer in racing IP NFT.

This research report is a free research report (not a wealth code research report) sponsored by REVV Motorsport, and the content of the research report is entirely written independently by the first-class warehouse, which makes every effort to ensure that the content of the research report is true, neutral and objective. The purpose of this research report is to help readers to quickly and deeply understand the project and help them to make better investment decisions.

Project Summary

The NFT market has been expanding since 2017, and the combination of realistic IP is one of the directions of NFT development, which has recently attracted more attention. there is huge room for development in the NFT field.

REVV Motorsport is a blockchain racing game ecology created by Animoca Brands, which belongs to the NFT project combining realistic sports IP. the current racing games in the ecology include F1® Delta Time and MotoGP™ Ignition, based on Formula 1 and MotoGP respectively, and will be released in the future More racing games will be released in the future, with relatively high development potential.

The team, REVV team belongs to Animoca Brands, which has rich experience in blockchain game development and operation, and has made 37 investments in the past 3 years, becoming one of the largest investors in blockchain games and NFT projects. dapper Labs is one of its invested projects, and its own projects include The Sandbox, TOWER Tower Token, GAMEE, Lympo, etc. The company’s companies work more closely with each other and can support each other, including participation in the REVV Motorsport ecosystem to get tokens such as SAND, TOWER and GMEE.

The product, the blockchain racing game is built on the basis of the real IP, the overall design is simple and easy for users to get started, which can attract fans of traditional racing events and racing games. the REVV Motorsport ecology is still in the early stage of development, and there is still a lot of space in the transformation of fan economy, which needs to pay attention to the marketing and operation taken by the project side afterwards. Currently, the games in the ecosystem adopt the “earn while you play” approach to attract more people to participate in the games.

In terms of tokens, REVV is an in-game application-based token and game currency. Users can use REVV tokens to buy racing cars, racing parts, drivers, driver equipment, and pay entry fees. The total amount of tokens is large, leaving a portion of tokens as reserve for other racing games within the ecology. Overall, the token model is reasonably well designed.

REVV straddles two of the most popular NFT ecologies: Ether and Flow, and may have the opportunity to capture huge market value. REVV is currently in the early stage of project development, but it is also the largest blockchain racing game in the market at present, and has relatively large development space. Another development feature of the NFT project combined with real IP is that a certain event may instantly ignite the market fever, which also relies on outside chance events to happen.

Basic overview

  1. Project Introduction

REVV Motorsport refers to the racing blockchain game ecosystem created by Animoca Brands, which combines real-life racing IP with NFT, which can be used for gaming. REVV is an in-game application-based token and game currency that allows users to use REVV tokens to purchase race cars, racing parts, drivers, driver equipment, pay race entry fees, etc.

Animoca Brands is a blockchain game company based in Hong Kong with extensive experience in developing and operating blockchain games, and its projects include The Sandbox, TOWER Tower Token, GAMEE, Lympo, etc.

Basic Information (Data as of April 2, 2021)

Founded

2018

Release Date

2019

Country / Region

Australia / Hong Kong, China

Affiliation

Games/NFT

Token Symbols

REVV

Fundraising

N/A

Market Capitalization Ranking

342

Current Coin Price

$0.512903

Market Capitalization in Circulation

$111,804,975

Tokens in circulation

221,478,874

Total number of tokens

3,000,000,000

Upline pairs

5

Major Exchanges

Uniswap, Sushiswap, Kucoin

18~Present Highest price

0.632317 (2021.03.30)

18~present Lowest price

0.00935429 (2020.09.21)

  1. Project details

Funding

Fundraising was conducted in September 2020, raising a total of 1,048,950 USD. funds for operations and development [2]. Data is from Messari and may differ from actual.

Code

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-1 Number of code commits

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-2 Number of code submitters

The game portion of the product should be running off-chain, and the main code submission is likely to be NFT contract deployment.

Products

Currently REVV tokens support 3 games, including Formula 1-based F1®Delta Time and MotoGP™Ignition, as well as the upcoming Formula E. Both racing games, F1®Delta Time and MotoGP™Ignition, contain 2 modules The Collection module and the Competition module. The Collection module is mainly for collecting different combinations of NFTs related to IPs, and the Racing module is for users to compete with racing cars.

F1® Delta Time

F1 Delta Time is the first blockchain racing game supported by REVV tokens and officially licensed by Formula 1 (Formula One). The collection module gameplay opens in 2019, and the racing competition module opens in 2020.

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-1 Racing car assembly interface

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-2 Racer equipment interface

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-3 Opensea equipment purchase interface

NFT.
Racer equipment includes: energy unit, turbocharger, front wing, rear wing, energy storage unit, brakes, gearbox, and suspension system.
Racer equipment includes: gloves, suit, helmet, boots.
Other: race tracks.
All of the above mentioned equipment can be purchased at Opensea. Players with racing NFTs can also choose to pledge them to earn REVV, the rarer the NFT the higher the return.

Game modes: Currently there are 3 main modes in the game, including Grand Prix™, Elite, and Time Trial. Different races have different rules. At present, users who participate in the races and rank the top can be rewarded. Participation in the races requires a well-equipped car, racer and tires.

Time Trial: There are two seasons, 2019 and 2020, held every day at different tracks. Players are divided into four different levels according to their combined scores, ABCD, and the results are ranked every week, with the top 10 dividing the rewards.
Grand Prix: Currently, there are two seasons of 2019 and 2020 held at the same time, and the tracks include Autodromo Nazionale Monza in Italy, Silverstone in the UK, Spa-Francorchamps in Belgium and Circuit de Monaco in Monaco, and Shanghai International Circuit in China. Players are divided into four different classes according to their combined scores to rank their results and compete for prizes.

MotoGP™Ignition

MotoGP™ Ignition is a game platform based on MotoGP™, built on the Flow chain, which consists of two modules: 1) a collection module based on NFT and 2) a competition module using NFT racing.

MotoGP™ is the World Motorcycle Championship and MotoGP™ Ignition allows MotoGP fans to own and trade NFTs and collectibles of their favorite related motorcycles on the blockchain.

Ignition Complete is the collectibles platform for MotoGP™ Ignition and focuses on NFT cards. Users purchase packs of cards, each containing 3 cards, and each pack is sold with a theme. The rarity of the cards is different. For example, the first packs will be themed to the 2020 season, so all cards in the first pack sold will be based on the 2020 season, including riders and motorcycles.

Ignition Legends is the competition section of MotoGP™ Ignition. The competition section requires users to collect a range of NFTs, including motorcycles, racers, coaches, mechanics and parts such as mufflers, shock absorbers and brakes. The cards collected can be used to enhance the performance of the riders. In addition to racing, players are responsible for the motorcycle, maintenance, racer and rider status. Therefore, players will need to assemble a complete team, including mechanics and coaches.

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 2-4 Sales page

In summary: REVV is one of the projects created by Animoca Brands, which has relatively mature experience in game development and operation, and has several blockchain game projects under it, which can cooperate with each other.

REVV’s development route is to combine with real-life racing IP, get a license and develop NFT products. The advantage of combining with real IP is that there is already a fixed fan base and there is no need to start from zero, while the limitation of IP-based NFT is that its copyright is centralized and if the license is revoked, then the value of NFT will be greatly reduced. One of the key points of this type of project is to convert the original fans of the IP into users of the project, which tests the marketing ability of the team, but Animoca Brands already has a certain advantage in the operation and marketing of the game with rich experience.

The team wants to make the REVV token an application token for the blockchain racing game ecology. The second game in the ecology has just been launched, and more time is needed for the maturity of the whole ecology.

Development

  1. History
  1. Current status

The second racing game MotoGP™ Ignition of the REVV ecosystem is deployed on the Flow chain and has its first NFT sale, with the first sale paid by credit card and subsequent payments available with REVV.

  1. The Future

The immediate focus of the REVV ecosystem is MotoGP™ Ignition, with auctions and races to be completed.

From time to time, F1 Delta Times will hold “Earn while you Play” events.

Economic Model

  1. Supply

The total number of REVV tokens is 3 billion.

The current circulation of REVV is about 230 million, accounting for about 8% of the total number of tokens. F1® Delta Time race reward reserve tokens will continue to be released, and due to the recent launch of MotoGPTM Ignition, these tokens may be migrated to the Flow chain and gradually released, depending on the development of the game.

  1. Demand

REVV is an in-game utility token with uses including but not limited to
1) To purchase game props (various types of NFT).
2) To pay for tickets to participate in tournaments: as entrance fees for Grand Prix and Time Trials.
3) game rewards: participating players will be rewarded in response to their performance in the game.
4) Pledge: Players can pledge REVV to get REVV rewards or NFT directly.

In summary: REVV will serve as a utility token for a range of racing programs within this eco-system, currently supporting 2 racing games, F1® Delta Time and MotoGPTM Ignition. The REVV tokens are reasonably allocated and have fixed application scenarios.

Competition

  1. Overview

REVV’s segmented track is: Sports IP NFT.

NFT is short for Non-Homogenized Token, which refers to Token with uniqueness, not detachable, and the smallest unit is 1, such as tokenized game props, tickets, artworks, etc. There are currently two NFT token standards, including ERC-721 and ERC-1155. NFT based on these two standards is essentially the same, but NFT based on ERC-1155 standard has advantages in terms of bulk transactions, etc.

The current classification of NFT is divided into six main categories: art, collectibles, virtual reality, games, real goods and sports, defined as

  • Art: content generated or traded by markets, projects or individuals in the form of NFT, representing projects such as Super Rare and Known Origin.
  • Collectible: Projects whose main function is to issue collectible NFTs. These tokens can be used for games or interaction between players, representing projects such as Crypto Punks, Crypto Kitties, etc.
  • Games: NFTs within video games, including card games, role-playing games, etc. Representative projects are Axie Infinity, Gods Unchain, etc.
  • Virtual Reality: Projects that provide users with virtual reality experiences, usually accessed through computers, 3D devices or cell phones, with representative projects such as Decentraland, the Sandbox, etc.
  • Sports: Usually related to real-world athletes and teams, including motorsports, soccer clubs, basketball teams, etc. Representative projects are SoRare, F1 Delta Time, ZED Run, etc.
  • Real-world items: can be domains that grant access, ownership of tickets and assets, etc.

*Note: There are other NFT taxonomies currently on the market.

  1. Current state of the industry

The first NFT project born from blockchain was Crypto Kitties (NFT games). From Crypto Kitties in 2017 to now, the NFT market has existed for more than three years, and the NFT market cap has grown rapidly in these three years, from $40,961,223 in FY18 to $338,035,012 in 2020, the NFT market cap has doubled about seven times, as shown in the following chart.

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 5-1 NFT Market Capitalization 2018-2020

Compared to 2018 and 2019, the number of active addresses, number of buyers and sellers, and transaction value of the NFT market in 2020 have all broken through, as shown in Figure 5-2.

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 5-2 NFT deal data from 2018-2020

According to Figure 5-3, it can be seen that the transaction volume of sports-related NFT projects starts to grow rapidly from mid-2020. 2020 to 2021, the combination of realistic IPs to create NFTs has become a new trend in the NFT market, including platforms such as NBA Top Shot and SoRare, which have used the fan economy to achieve breakthroughs.

In-depth Report: REVV Motorsport - Blockchain Racing Game Ecology

Figure 5-3 NFT Segment Share

  1. Competitive Projects

The NFT segment as a whole is still in the early stage of development, the market is not yet saturated, and REVV does not need to compete head-to-head with other IP racing projects yet. Since there are no other well-known projects of racing IP in the market, we will compare the projects of soccer and basketball IP, so as to explore the development prospect and shackles of racing IP. The representative projects are NBA Top Shot (basketball) and SoRare (soccer).

NBA Top Shot

NBA Top Shot is an NFT product jointly launched by Dapper Labs and NBA, the American professional basketball club. The platform allows NBA fans to purchase, collect or trade digital cards of officially licensed video clips of players’ iconic moves, such as dunks, long-range 3-pointers, game-winning shots and other clips that excite fans.

NBA Top Shot has accumulated more than $300 million in sales since its launch in October 2020, and its volume continues to grow.

In addition to trading and collecting features, the team is expected to develop a 3D game mode Hardcourt where you can form your own team and manipulate players. the market is hotter because the NBA has a huge fan base and a long history of star card collecting, driven by investments from some NBA stars like Spencer Dinwiddie, Andre Iguodala, JaVale McGee and others.

NBA Top Shot transactions take a 5% transaction fee, and a portion of the transaction fee is taken to the NBA and the Basketball Association.

SoRare

SoRare is a blockchain-based soccer game where players can trade player cards and participate in tournaments. Cards in the game are available in limited quantities and vary in rarity, with the rarer the cards performing better in the game. In addition, this game is approved and authorized by 126 soccer clubs.

There are three channels to buy collectible cards: 1) At the beginning of the season, SoRare releases a certain number of new cards, which users can get through the “New Singing” marketplace; 2) Secondary marketplace such as Opensea; 3) Winning cards by participating in games.

Game Mode: SoRare has designed seasons and tournaments within the game that players can freely participate in. In SoRare, every 4 days is a new season, and will organize only specific attributes to participate in the tournament card participation, players need to their own cards in accordance with the goalkeeper, defender, midfielder, striker and subs to form a 5-member lineup, submit the team without operation, Western use will be based on the game season period, the reality of each player’s performance scores, and finally all players lineup scores for ranking, to find the ranking for distributing rewards. It should be noted that players who are injured, sick or on rotation will not be able to play in the games during the season.

  1. Competition Comparison

The heat of F1, NBA and Football all grow intermittently throughout the year, which may be related to the time of the competition. The fever of keyword F1 did not change much between 2004 and 2021, while the fever of keywords NBA and Football increased year by year. It can be roughly inferred that the fan base of F1 racing has not changed much, while the fan base of football and basketball has expanded year by year.

F1 fans are concentrated in North and South America, Europe, China and Australia, while NBA fans are concentrated in North and South America, China and Australia. Soccer is concentrated in North America, Africa and Australia. It can be concluded that the main fan groups of different sports differ and do not overlap 100%. There are also differences in the users of blockchain sports IP projects, and there is no competition.

F1 Delta Time is built on the Etherchain, while MotoGPTM Ignition is built on the Flow chain, solving the problem of high transaction costs.

To sum up: NFT is still in the early stage of development, the market is expanding year by year and has relatively large development potential. “IP+NFT” is one of the development directions of NFT, and blockchain projects can benefit from the fan economy of the original IP. There is still a lot of room for conversion.

The REVV ecology will span the Ethernet and Flow ecologies, with F1 Delta Time built on Ethernet and MotoGPTM Ignition built on the Flow chain. As the birthplace of NFT, Ethernet already has a very mature NFT infrastructure and ecology with a huge number of NFT players, while the Flow chain has exponentially lower transaction fees, lowering the threshold for participation and interaction, and is the most popular NFT platform other than Ethernet.

Animoca Brands is a more famous blockchain game company, which has accumulated rich experience in game development and marketing. Animoca Brands has several game projects under its umbrella, which can share resources and user groups between projects, or can form a strong brand influence and create its own NFT game universe and player ecology.

Team

  1. Background information

REVV’s head office is Animoca Brands.

Animoca Brands was founded by Xiao Yi in 2014, headquartered in Hong Kong, was listed on the Australian Stock Exchange in 2015, and was delisted from the Australian Stock Exchange in March 2020 for reasons including involvement in cryptocurrency-related activities, but the company is operating normally. companies that Animoca Brands has partnered with or acquired include: Pixowl ( The Sandbox team), TicBits, nWay, iCandy Interactive, Sky Mavis (Axie Infinity team), Dapper Labs (CryptoKitties and NBA Top Shot teams), Lympo, GAMEE Quidd, OpenSea, Harmony, Bitski and Alien Worlds.

  1. Core Team

Yat Siu, the founder of Animoca Brands, was the Executive Director of the European Chamber of Commerce in Hong Kong and the Austrian Chamber of Commerce in Hong Kong in the early years; he joined Barunson (a high-end merchandise design and production company) as Executive Director in 2001 and was also the Project Director of Typhoon Games during the same period.

Robby Yung, CEO of Animoca Brands, member of the Advisory Board of the UK Mobile Games Forum, investor in Schmap, board member of several internet and gaming companies including TicBits Ltd, Leade.rs, GAMEE, Gamma Innovations, Inc, nWay Inc. He joined Outblaze as a director in September 2012 and has served as a director of Animoca since then.

Ibrahim El-Mouelhy, founding member and CCO, joined Animoca in January 2011, having served as Director of Marketing and Corporate Communications and officially as COO of Animoca in 2014; he also has over 20 years of industry experience as CCO of Outblaze.

Issac Poon, Marketing Media Manager, joined Outblaze in June 2012 as a project researcher and joined Animoca Brands in April 2019.

Alejandro Dini, Lead 2D Art Designer, has over 20 years of design experience with companies such as SilverCorn Hong Kong, Lisa Frank USA, Tree & Me Hong Kong, etc. In January 2011, Alejandro Dini joined Animoca as a Senior DevOps Engineer.

Michael Guo, as a Software Engineer, joined Animoca Brands in October 2019. received a Bachelor of Applied Science in Computer Engineering from WATERLOO University in 2016 and a Master of Science in Big Data Technology from the Hong Kong University of Science and Technology in 2019; started developing software in the Internet industry in 2012 and has worked in Renegade Digital Media, Rogers Communications, Epicor Software, EveryBit, and other Internet companies in software development roles.

Nathan Sala, Head of Engineering at Animoca Brands, Nathan Sala has over 10 years of experience in the Internet industry. He joined NOK Airlines in 2008 as an intern to develop a flight booking system, followed by development internships at Astrium and the National Institute of Information Science in Japan. IRIT, Margoconseil, and BNP Paribas, respectively; in 2018, he joined Anquan as a blockchain architect; since 2017, he is also the co-founder and CEO of Goala Ltd, and in August 2018, he served as the head of engineering at Animoca Brands, with extensive blockchain development experience.

Sean Dudley, Product Manager at Animoca Brands, spent his early years at Rare Ltd as a product quality inspection engineer on Kameo and XBox 360 projects, and as a product quality inspection supervisor on multiple projects, and started leading the testing of Nintendo DS titles as a senior quality inspection supervisor in 2007; then spent more than a year as a product quality manager at Outblaze from 2010 to 2012; and then joined Animoca in April 2012, eventually taking on the role of General Manager of Product in January this year.

Stephen Lee, game designer, started to work in animation company as illustrator and character designer in 2014; joined Luv Galaxy as junior designer in 2017, and then joined Animoca as game designer in 2018, with years of experience in game graphics.

Tina Leung, Art Director of Animoca Brands, started her career as a graphic designer in 2013, working as a graphic designer at iMusictech, SGI Venture Ltd. and Madhead respectively, before joining Gomilab Ltd. as a project manager in October 2016. After Gomilab, he joined Animoca Brands as a game and UI art designer, before taking up the position of Art Director in May 2020.

Vidhvat Madan, Software Engineer at Animoca Brands, graduated from Dekhi University in 2013 with a B.S. in Computer Science, then attended Austin Texas University in 2015 to study game development, and joined arkavis in 2017 in a game development role; during the same period, he also worked at In the same period, he also held a game development position within QUICKTEQUILA for nearly 8 years since May 2013, with nearly 10 years of senior experience in the game development industry, and then joined Animoca Brands as a software engineer in October 2019.

Reference.

https://f1deltatime.medium.com/, F1 Delta Time Blog

https://motogpignition.medium.com/, MotoGP Ignition blog

https://www.REVVmotorsport.com/, F1 Delta Time official website

NON-FUNGIBLE TOKENS YEARLY REPORT 2020, Nonfungile 2020 NFT Annual Report

https://www.animocabrands.com/all-announcements-2020, Animoca Brands related reports

https://REVVmotorsport.com/REVV-Motorsport-Lightpaperv1.1.pdf, REVV White Paper

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/in-depth-report-revv-motorsport-blockchain-racing-game-ecology/
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