OKX and McLaren: Digital Collectibles FAQ

What Are Digital Collectibles?

Digital collectibles are unique, non-fungible tokens (NFTs). Each item is distinct and irreplaceable due to its unique metadata.

Availability of Race Rewind Digital Collectibles

• Collectibles are released for every race weekend, available from Friday 5:00 PM WIB to Monday 5:00 PM WIB.
• Las Vegas follows the same drop schedule despite its unique race timetable.
• Missed claims can be purchased on the OKX secondary market.

👉 Explore the OKX NFT Marketplace

Benefits of Claiming Race Rewind Collectibles

• 24 unique collectibles (one per 2024 Formula 1® race) in three tiers:

  • Classic: Memorabilia with no rewards.
  • Rare/Ultra Rare: Includes merchandise, signed items, or experiences.
• Season finale collectible: Requires owning one collectible from every race to claim.
• Secondary market purchases are allowed for missed races.

Understanding Utility (Rewards)

• Utility refers to Web3 rewards like physical goods or exclusive access tied to Rare/Ultra Rare collectibles.
• Examples: McLaren caps, signed merchandise, or VIP experiences.

Setting Up Your Wallet

• Create a Web3 wallet via OKX or link a compatible wallet.

• OKX Wallet is a non-custodial, multichain tool for managing digital assets.

  • Non-custodial = Full user control over assets.

👉 Learn how to create an OKX Wallet

Claiming Utility

1. Check your collectibles in the OKX McLaren dashboard.
2. Click "Claim" and complete the form.
3. Post-claim, Rare/Ultra Rare collectibles are marked as "Utility Claimed" but remain tradable.
4. Physical rewards ship via DHL; experiences are coordinated via email.

Identifying Collectible Rarity

Check the rarity icon on your collectible:

• Classic / Rare / Ultra Rare.

Storing and Accessing Collectibles

• Store in OKX Wallet (browser extension or mobile app).
• All assets are on-chain and accessible anytime.

Utility Claim Deadline

• Must claim within 3 weeks after the minting window closes.
• Post-deadline, utility is locked, but collectibles remain tradable.

Selling or Trading Collectibles

• Trade freely on the OKX NFT marketplace.
• Guide to selling NFTs on OKX.

Missed Drops?

• Purchase missed collectibles on the secondary market.
• A full set (24 collectibles) is required for the season finale reward.

Why Limited Drops?

OKX and McLaren reserve the right to pause minting if gas fees exceed thresholds or due to unforeseen circumstances.

What Is X Layer?

• The blockchain hosting McLaren’s collectibles, optimized for:

  • Speed: Fast on-chain transactions.
  • Affordability: Low gas fees for global accessibility.
  • Innovation: Built with ZK-SNARKs for enhanced security.
• Integrated with OKX Wallet and 100+ decentralized apps (DApps).

Bonus Collectibles for Canadian GP Claimants

Participants who claimed the Canadian GP collectible received 8 additional Classic-tier collectibles from earlier races as a reward.

FAQ

Q: Can I trade Classic-tier collectibles?
A: Yes, but they lack utility rewards.

Q: How do I know if I won an experience?
A: You’ll be contacted via email from [email protected].

Q: Are there fees for selling collectibles?
A: OKX allows free or optional-fee listings.

Q: What happens if I miss the utility claim window?
A: The reward expires, but the collectible remains tradable.

Q: Why use X Layer instead of Ethereum?
A: Lower costs and faster transactions for mass adoption.