The Rise of Blockchain in Formula 1 – Bitcoin News Press Release

press release

PRESS RELEASE. Formula 1 is one of the biggest sports in the world and creates the best car teams that compete for the title annually. From the racetracks in Spa to the roads of Monte Carlo in Monaco, Formula 1 has developed into a billion-dollar industry with teams and drivers boasting a cult following globally.

The relationship between Formula 1 and the blockchain industry has grown in recent years. Partly due to the increasing use of crypto and blockchain technology. Crypto.com made a significant splash when it was announced as a global partner for Formula 1 in 2021. They are not alone. Binance, FTX, Velas, Bybit, Tezos and the memecoin project Floki have established partnerships within Formula 1.

The knowledge between Forumla 1 and blockchain companies demonstrates the acceleration of consumers’ adoption of blockchain and crypto-related products and services. Where Shell, Hewlett Packard and Coke once stood, cryptocurrency exchanges, hardware wallets and blockchain protocols are now leading the way. The success of new concepts such as NFTs has also inspired Formula 1 teams that want to increase consumer engagement through limited card collections that provide exclusive content and access for fans around the world.

Opis Group and OpiPets participated in the Monaco NFT and Swim week conference which took place during the Grand Prix weekend. As one of the oldest and most prestigious dates on the F1 calendar, Monaco played home to a hive of blockchain-related activity.

OpiPets, a Free Play-to-Earn project and the sister company Opis Cloud demonstrated their uses and product development with other successful projects and technology investors.

Build an innovative P2E ecosystem

Although Play-to-Earn has attracted over a million users over the first two years, mainly due to the promise of rewarding players with crypto and NFT ownership, it still faces an uphill battle in the wider mainstream. -adoption.

Start-up costs for new players are a major barrier to the widespread use of P2E games. Participants must spend up to a thousand dollars to get started. Many people cannot afford to test it and often see it as a risky investment. Many players are still dissatisfied after trying to get back their original investment.

Contrary to the original idea, many so-called P2E games have switched to Pay-to-Earn. This is because of their unsustainable tokenomics that always make them abandon their original ideals.

OpiPets is one of the few projects that differs from the popular model. It is a free P2E online game where players are rewarded with cryptocurrency and the ability to create, battle, acquire and trade their own NFT OpiPet characters.

OpiPets uses the P2E concept and focuses on giving society real ownership of produced assets and digital economies and new ways of generating income.

More development on the horizon

The OpiPets team continues to work tirelessly to reduce the adoption barriers that significantly limit the popularity of blockchain games. It also plans to launch its game in Q3 2022. The game is expected to include exciting features and products for users to explore the ecosystem and acquire new assets.

This is a press release. Readers should do their own due diligence before taking any action related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on the content, goods or services mentioned in the press release.

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