Digital collectibles are revolutionizing how fans engage with their favorite sports teams, and the collaboration between OKX and McLaren is a prime example. Through the Race Rewind collection, Formula 1® enthusiasts can own unique digital memorabilia tied to real-world events, rewards, and exclusive experiences. This guide answers the most common questions about the initiative—covering everything from setup and redemption to rarity, utility, and long-term value.
Whether you're new to Web3 or a seasoned collector, this resource ensures you make the most of the OKX x McLaren partnership.
What Are Digital Collectibles?
Digital collectibles—also known as non-fungible tokens (NFTs)—are unique digital assets verified using blockchain technology. Unlike cryptocurrencies such as Bitcoin, which are interchangeable, each digital collectible is one-of-a-kind or part of a limited series with distinct metadata.
In the case of the OKX x McLaren Race Rewind collection, each NFT represents a memorable moment from a Formula 1 race in the 2024 season. These aren’t just digital images—they’re authenticated tokens of ownership that can unlock real-world benefits.
👉 Discover how digital collectibles are changing fan engagement in sports today.
When Will Race Rewind Collectibles Be Available?
New digital collectibles are released for every Formula 1 race weekend:
- Availability window: From 10:00 AM GMT Friday to 10:00 AM GMT Monday
- This schedule applies to all races, including special events like the Las Vegas Grand Prix
- If you miss claiming during this period, you can still acquire the collectible via the OKX secondary marketplace
Each race’s collectible drops on time, regardless of local race schedules, ensuring global fans have equal access.
Benefits of Claiming Race Rewind Collectibles
The Race Rewind collection features 24 digital collectibles, one for each F1 race in 2024. There are three tiers of rarity:
- Classic
- Rare
- Ultra Rare
While Classic collectibles don’t come with direct rewards, they count toward completing your full-season set—an achievement that unlocks a final, exclusive end-of-season NFT.
Rare and Ultra Rare collectibles include utility benefits, such as:
- Signed McLaren merchandise
- Branded apparel (e.g., hats)
- Real-world experiences (e.g., trackside events)
Even if you only collect Classic-tier items, completing all 24 races qualifies you for special recognition and potential prize eligibility.
Missing one or more? You can complete your set by purchasing missing pieces on the OKX marketplace.
What Does "Utility" Mean in Web3?
In Web3 terminology, utility refers to real-world or digital perks tied to an NFT. It transforms a digital item from a mere collectible into a functional asset.
For the Race Rewind series:
- Rare and Ultra Rare NFTs have built-in utility
- Examples include redeemable merchandise, VIP experiences, and access to exclusive platforms
This integration enhances fan value by bridging digital ownership with tangible rewards.
How Do I Set Up a Wallet?
To claim and manage your digital collectibles, you need a Web3 wallet. The easiest way is through OKX Wallet, which supports multi-chain assets and integrates seamlessly with the McLaren NFT platform.
You can use OKX Wallet as:
- A browser extension
- A mobile app
It's non-custodial—meaning only you control your private keys and assets. No third party, including OKX, can access your wallet.
👉 Learn how to create your secure Web3 wallet in minutes.
How Do I Redeem My Collectible’s Utility?
Once you own a Rare or Ultra Rare NFT:
- Go to your dashboard in OKX McLaren
- Click "Redeem" next to the applicable utility
- Fill out the required form
You can redeem multiple utilities at once. After redemption:
- The original NFT is replaced with a version labeled “Utility Redeemed”
- The token remains tradable, but the benefit cannot be claimed again
Physical prizes are shipped via DHL, with tracking updates sent via SMS. Winners of experiential rewards will be contacted by email at [email protected].
How Can I Check My Collectible’s Rarity?
Each digital collectible displays a rarity icon indicating its tier:
- Classic
- Rare
- Ultra Rare
This information is visible in your collection dashboard and on the NFT itself. Rarity determines both sentimental value and access to exclusive perks.
Where Are My Collectibles Stored?
Your Race Rewind NFTs are stored on-chain in your connected Web3 wallet. To participate:
- Create an OKX Wallet, or
- Link any compatible Web3 wallet
All assets are securely recorded on the blockchain. As the wallet owner, you retain full custody—no intermediary controls your items.
For setup help:
👉 Get started with OKX Wallet and begin collecting today.
When Must I Redeem My Utility?
Time is limited! You must redeem your utility within three weeks after the claim window closes for each race.
After this period:
- The utility expires
- The NFT will be stamped “Utility Redeemed” or “Expired”
- Prevents duplicate claims or resale of active reward-bearing NFTs
Mark your calendar—don’t miss out on exclusive merchandise or experiences.
What If I Don’t Want or Can’t Use My Reward?
No problem. You have options:
- Sell your NFT on the OKX marketplace
- Set your own price (including zero)
- Trade it freely
Even after utility expiration, the NFT retains collectible and speculative value—especially if it's part of a complete set.
How Do I Trade or Sell My Digital Collectible?
Selling your NFT is simple:
- Log in to the OKX NFT Marketplace
- Select your McLaren collectible
- List it at your desired price
You maintain full control over pricing and transactions.
What Happens If I Miss a Drop?
If you fail to claim a collectible during its release window (Friday–Monday GMT), don’t worry—you can still obtain it through the secondary market on OKX.
However, to qualify for the end-of-season reward, you must own one collectible from each of the 24 races—regardless of rarity.
Why Are There Claim Limitations?
OKX and McLaren reserve the right to close minting windows early under exceptional circumstances, such as:
- Unusually high blockchain transaction fees (gas fees)
- Network congestion
- Security concerns
These measures protect users from excessive costs and ensure fairness.
What Is X Layer?
All McLaren digital collectibles are minted on X Layer, a high-performance Layer 2 blockchain developed by OKX. X Layer enhances the fan experience through:
⚡ Speed
Fast on-chain transactions mean near-instant minting and transfers.
💸 Low Cost
Minimal gas fees allow global fans to participate affordably.
🔐 Security & Innovation
Built with advanced zk-SNARK technology, X Layer ensures privacy and data integrity.
Why McLaren Chose X Layer:
- Seamless integration with OKX Exchange and Wallet
- Access to over 50 million Web3 users
- Support for more than 100 decentralized applications (dApps)
- Rapid ecosystem growth: over two-thirds of major dApps launched on X Layer within one month
Top projects on X Layer include:
- Infrastructure: Chainlink, The Graph, Safe
- DeFi: Curve, Frax, Renzo, EtherFi
As a McLaren NFT holder, you're not just a fan—you're part of a broader Web3 ecosystem.
FAQ Section
Q: Do Classic-tier collectibles have any value?
Yes. While they don’t offer direct rewards, Classic NFTs count toward completing your full-season set—required for end-of-season rewards and recognition.
Q: Can I transfer my NFT to another wallet?
Absolutely. Since these are on-chain assets on X Layer, you can send them to any compatible Web3 wallet.
Q: Are there hidden costs when claiming?
No. Claiming during the free mint window incurs no cost. Gas fees on X Layer are extremely low, making participation affordable worldwide.
Q: What happens if I redeem a utility but don’t receive my prize?
Contact OKX support via email at [email protected]. Physical items are shipped via DHL with tracking provided.
Q: Can I resell an NFT after redeeming its utility?
Yes. The “Utility Redeemed” version remains fully tradable on the OKX marketplace.
Q: How do I know if an NFT is authentic?
All Race Rewind collectibles are verified on X Layer’s blockchain. Authenticity is guaranteed through cryptographic proof and official OKX/McLaren branding.
Final Thoughts
The OKX x McLaren partnership represents the future of fan engagement—where digital ownership meets real-world excitement. With the Race Rewind collection, you're not just watching Formula 1; you're participating in it.
From claiming race-specific NFTs to unlocking exclusive experiences and building a complete season set, every action brings you closer to the team and the track.
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