REVV is the utility token of the play-to-earn motorsport blockchain games produced by Animora Brands, such as REVV Racing, F1® Delta Time, MotoGP™ Ignition and Formula E: High Voltage. The ticker symbol of this ERC-20 token is REVV.
In REVV Racing, players can experience 3D car racing while owning the in-game digital assets. The assets are NFTs that players can collect, race with, trade or use to participate in tournaments. REVV is used inside the games to purchase these NFTs and as entry fees in associated tournaments. It also offers staking and play-to-earn rewards to incentivize user participation.
Within the first seven days of REVV Racing's release on Aug. 12, 2021, 53,379 races were run by 5,554 players. Additionally, the gaming platform conducted multiple tournaments during and after the launch phase.
REVV price and tokenomics
REVV has a total fixed supply of 3 billion tokens. In the initial token allocation, Formula 1 and MotoGP were allocated 500 million and 400 million REVV, respectively.
Another 250 million tokens were released through an initial DEX offering, and 6% of the total allocation went to staking, contributing to the token's liquidity. Further allocations from game operations and reserves were used to establish staking pools.
During the launch of the REVV Racing game, liquidity pools were set up on DEXs like SushiSwap or QuickSwap. Participants who added at least $1,000 in liquidity to the pool, irrespective of the REVV price during the earning period, were rewarded with REVV tokens.
About the founders
Animoca Brands, the company behind REVV Racing, was founded by Yat Siu, the founder of Outblaze Limited, a digital media company specializing in gaming, cloud technology and software development.
The REVV team has notable figures as their project advisors, such as Kavam co-founder Holly Liu, Xbox Game Studios founder Ed Fries, Ravel Protocol founder Sherman Lee and more.
