Article Summary, Automatically Generated By AI
Here is a summary of the text in HTML format:
About REVV
-
What is REVV?
: A utility token used as in-game currency in blockchain motorsport games developed by Animoca Brands. -
Founders
: Animoca Brands founded by Yat Siu, with CEO Robby Yung. -
Unique features
: REVV has monetary value outside of the game world, and players have true ownership of in-game resources. -
Total supply
: 3,000,000,000 tokens. -
Token allocation
:- 500,000,000 (17%) to F1 Delta Time
<
About REVV: Empowering the Future of Blockchain Gaming
Introducing REVV: A Revolutionary Token
REVV (REVV) is a utility token that serves as an in-game currency within blockchain-based motorsport games developed by Animoca Brands. Specifically, it facilitates the gaming economy in F1 Delta Time, MotoGP Ignition, and REVV Racing, all of which incorporate the innovative play-to-earn concept. This pioneering approach rewards gamers with cryptocurrency incentives for their valuable contributions to the game world.
Throughout the gameplay experience, REVV is accrued as a reward for participating in time-trial races and grand-prix tournaments, as well as through the staking of race cars and the collection of dividends from track ownership. This digital currency can be utilized for the purchase of non-fungible tokens (NFTs) and to cover gameplay entry fees within this immersive digital universe.
According to the official lightpaper, a concise summary of a whitepaper, REVV’s inaugural token sale took place in September 2020, just preceding the launch of F1 Delta Time in December 2020. Thereafter, it was integrated into MotoGP Ignition and REVV Racing upon their respective debuts in March 2021 and August 2021.
The Visionaries Behind REVV: Meet the Founders
Animoca Brands, a Hong Kong-based company, was founded in 2014 by the visionary entrepreneur Yat Siu. Born and raised in Vienna, Austria, Siu brought with him a wealth of experience from his previous tenure at the renowned game development company Atari. Additionally, he serves as the founder and CEO of Outblaze, a technology corporation that specializes in the development of diverse digital media products.
Robby Yung, a visionary entrepreneur, publisher, and mobile game developer, helms Animoca Brands as its CEO. His illustrious career is marked by co-founding Redgate Media, a television and outdoor media holding company, where he served as CFO. Additionally, he co-founded One Media Group, a magazine group, as CSO. Yung has also founded and led One Studio Limited, a web development company, and OSMedia Limited, a television advertising sales company, as CEO.
Unveiling the Unparalleled Attributes of REVV
REVV is a unique in-game currency that transcends the virtual realm, possessing tangible monetary value in the real world. Unlike many games with virtual economies, which restrict players to exchanging digital assets solely within the game’s ecosystem, REVV empowers players to experience true ownership, extending beyond the digital universe and into the real world.
Furthermore, in the realm of non-blockchain economy games, digital assets are susceptible to the risk of game server shutdown, which would result in the instantaneous loss of all hard-earned assets for the player in the event of project termination. In contrast, Animoca’s REVV-based blockchain games empower players with genuine ownership of in-game resources, enabling them to buy and sell NFTs and tokens on digital marketplaces, transfer them to other players, and utilize the tokens in other supported games.
Notably, a significant proportion of REVV-based games are developed under licensing agreements with prominent sports brands, including Formula One and MotoGP, thereby lending an air of authenticity to the gaming experience.
Moreover, the REVV ecosystem has entered into a cross-promotional agreement with The Sandbox, a nonlinear gameplay virtual world and subsidiary of Animoca Brands, which utilizes SAND tokens as its in-game currency. Following the announcement of the REVV/SAND pairing on Uniswap, a decentralized automated market maker (AMM), players were presented with an opportunity to receive exclusive, unique REVV-branded The Sandbox NFTs in exchange for providing liquidity to the REVV/SAND trading pair. Additionally, rare REVV Racing NFTs, themed around The Sandbox, were awarded to liquidity providers as part of the second REVV/SAND liquidity event, launched by Animoca Brands.
The Circulating Supply of REVV Coins: A Closer Look
The total supply of REVV tokens is capped at 3,000,000,000. The allocation of these tokens is as follows: 500,000,000 (17%) are reserved for F1 Delta Time; 400,000,000 (13%) are allocated to MotoGP; 1,300,000,000 (43.3%) are held in reserve; 300,000,000 (10%) are designated for the team and advisors; 250,000,000 (8.33%) were allocated to the initial DEX offering; and 250,000,000 are set aside for the player reward reserve.
The 500 million REVV tokens allocated to F1 Delta Time are divided as follows: 249,980,000 (50%) are designated for game operations; 30,020,000 (6%) are reserved for staking; 200,000,000 (40%) are held in reserve; and 20,000,000 (4%) are allocated towards promotional and marketing expenditures.
The Security Architecture of the REVV Network
REVV is an ERC-20 standard token built upon the Ethereum blockchain, leveraging the decentralized network’s capabilities. Through the implementation of smart contracts, which are essentially self-executing algorithms stored on the blockchain, tokens can be created and deployed with ease.
When Will REVV Trading Commence?
Trading of REVV commenced on September 4, 2020, through the automated market maker (AMM) Uniswap. Initially, REVV was launched at an introductory price of $0.00666 for the ETH/REVV trading pair.
Will REVV Soar to the $1 Mark?
Upon examining the fluctuations in the REVV rate since its inception, a striking correlation emerges between the instances of REVV price surges and the release dates of Animoca Brands’ games. Notably, the REVV price experienced a significant upswing in April 2021, coinciding with the launch of MotoGP Ignition, and peaked at $0.60. More recently, the release of REVV Racing in August 2021 triggered another price surge. Although the current trend suggests that this positive momentum is likely to persist in the near future, following the recent launch, with the token currently trading at around $0.25, REVV still has a considerable distance to cover to reach $1 and has yet to signal a challenge to this level.
Acquiring REVV: A Comprehensive Guide to Purchasing Options
REVV is presently listed on a diverse range of esteemed exchanges, including Uniswap (V2), KuCoin, Gate.io, Bittrex, LBank, Uniswap (V3), PancakeSwap (V2), CoinFLEX, Sushiswap, 0x Protocol, QuickSwap, ApeSwap, 1inch Exchange, CoinEx, BitZ, MEXC, Hoo, Hotbit, AEX, BitMart, BitForex, Mooniswap, LCX Exchange, ZT, AOFEX, WBF Exchange, Chiliz, Mexo Exchange, and LATOKEN, offering users a multitude of options for purchasing the cryptocurrency.
New to the world of cryptocurrency? Explore our comprehensive guide on entering the market and purchasing BTC, REVV, or any other token at CoinMarketCap’s educational hub, Alexandria.
Associated Resources:
Discover the concept of play-to-earn and explore the most popular NFT games that dominated the scene in 2021.
Delve into the realm of other captivating P2E games, including Binemon, My DeFi Pet, MOBOX, CryptoZoon, Kaby Arena, Alien Worlds, and Guild of Guardians.
Delve into the world of play-to-earn gaming as we pit CryptoBlades against Axie Infinity, two behemoths in the P2E arena.
Delve into SKILL — the proprietary in-game cryptocurrency powering the immersive realm of CryptoBlades.
Discover SAND, the native cryptocurrency that powers the immersive world of The Sandbox.