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REVV: In-Game Currency for a Play-and-Earn Motorsport Ecosystem
REVV is the native currency for Animoca Brands’ portfolio of play-and-earn racing games and the REVV Motorsport ecosystem.
By Yat Siu, Co-Founder & Executive Chairman, Animoca Brands
Updated October 10, 2023 • 3 min read
Summary
REVV tokens are used with a collection of blockchain gaming titles that feature play-to-earn (P2E) and play-and-earn crypto rewards found under the REVV Motorsport ecosystem — a series of racing- and motorsport-themed titles produced by gaming company Animoca Brands. Many of these games feature in-game non-fungible token (NFT) assets and collectibles that can be bought, sold, and traded on outside platforms and marketplaces.
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Play-and-Earn and P2E Blockchain Games Explained
A fast-emerging subsector of the gaming industry, blockchain-based gaming integrates components of blockchain technology into gameplay structures. Blockchain game components often include a native cryptocurrency that’s earned in-game and can be traded for leading digital assets or fiat currencies on crypto exchanges. Blockchain games often feature non-fungible tokens (NFTs), unique digital assets that can be purchased or earned through the gameplay experience. These tokens usually represent some kind of in-game asset and can typically be bought and sold outside the game on an NFT marketplace.
Many traditional video games require players to earn points that can be used to unlock levels, acquire new avatars, or boost the performance of a character or weapon. Similarly, blockchain games allow you to earn points, rewards, or tokens that can be utilized to purchase in-game assets or unlock new levels — but these crypto games can also feature tokens that can be used outside the context of a single game and on different platforms and markets. The REVV token is one example of a P2E gaming cryptocurrency.
The REVV Motorsport Play-and-Earn Gaming Ecosystem
Developed by video game developer Animoca Brands — which also developed a popular metaverse platform called The Sandbox — the REVV Motorsport ecosystem is a collection of play-and-earn gaming titles in the realm of motorsport racing. Every game in the REVV crypto ecosystem is based on the play-and-earn gaming concept. For example, one of the studio’s titles is REVV Racing: an arcade-style racing simulator in which all of the cars are NFTs, and data from racing sessions is logged directly on the blockchain. Through Animoca Brands’ partnerships with branded racing leagues, you can also play titles across popular racing brands including Formula E: High Voltage and MotoGP Ignition. To get started in these gaming titles you will need to have a crypto wallet and some REVV tokens.
When you play REVV games, you are able to earn REVV tokens. These tokens can be used to race or to purchase or upgrade NFTs within the REVV Motorsport play-and-earn ecosystem. For example, you could purchase an NFT racecar with better performance, buy a segment of a race track (entitling you to earn a percentage of all entry fees paid on that track), or buy collectible NFTs of your favorite motorsport athlete. These are just some cursory samples of what can be done with the REVV token.
REVV Tokenomics and Use Cases
REVV is an ERC-20 token that runs on the Ethereum blockchain. The total supply is three billion REVV. In addition to being used for in-game crypto rewards, REVV tokens have also been allocated to investors, partners, and an ecosystem-supporting fund. REVV tokens can be bridged to run on the Polygon, Flow, and Binance BNB blockchains. Thus, REVV’s interoperability extends not just to various play-and-earn gaming titles, but also to diverse smart contract platforms throughout the Web3 ecosystem.
In addition to serving as in-game currency for multiple games, REVV tokens offer a variety of other use cases. One is a REVV staking feature, which allows you to stake (or lock in) your REVV and REVV-related NFTs to earn additional REVV crypto rewards. Different staking periods are announced separately, so keep an eye for the next available pool. You can also trade REVV for various other crypto assets on various crypto exchanges.
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Author
Yat Siu
Co-Founder & Executive Chairman, Animoca Brands
Yat Siu is the co-founder and executive chairman of Animoca Brands, a global leader in blockchain and gaming. Yat began his career at Atari Germany in 1990. In 1995 he moved to Hong Kong to establish Hong Kong Cybercity/Freenation, the first free web page and email provider in Asia. In 1998, he set up Outblaze, an award-winning pioneer of multilingual white label web services. In 2009, he sold Outblaze’s messaging unit to IBM and pivoted Outblaze to become an incubator of projects and companies to develop digital entertainment services and products. One of those incubated companies is Animoca Brands, which was created in 2014. In 2017, he set up the Dalton Learning Lab, an afterschool digital lab for skills not emphasized by most education systems, including divergent thinking and design thinking. He is the founder of ThinkBlaze, the research arm of Outblaze investigating socially meaningful issues in technology.
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