Question 1

What are digital collectibles?

Accepted Answer

Digital collectibles, known as NFTs, are unique digital tokens. Each one is distinct and cannot be replaced by a similar one as they all have unique metadata.

Question 2

When will the Race Rewind Digital Collectibles be available?

Accepted Answer

Digital collectibles will be released for each race. These will always be available between 10am GMT on Fridays until 10am GMT on Mondays during every race weekend. 
Las Vegas will have the same drop timings as all other drops despite having a different racing schedule.
If you don’t claim a digital collectible in this window, you can purchase it on the OKX secondary marketplace instead.

Question 3

What are the benefits of claiming Race Rewind digital collectibles?

Accepted Answer

The Race Rewind collection offers 24 digital collectibles, one for each Formula 1® race in 2024. Collectibles come in three types: Classic, Rare, and Ultra-Rare. Rare or Ultra-Rare collectibles grant prizes like merchandise and experiences, alongside the NFT ownership.
At the 2024 season’s end, one last collectible will be released. To claim it, you need a collectible of any rarity from each race. This drop will feature Rare and Ultra-Rare NFTs with special prizes.
A Classic collectible doesn’t have an associated utility, but is still a piece of collectible memorabilia. If you mint a Classic collectible, you could still win a prize by collecting one collectible from each race of the season.
If you are missing a collectible for a race, you can purchase it on the secondary marketplace.

Question 4

What is a utility?

Accepted Answer

Some digital collectibles have utility. Utility is a Web3 term for access to products, services, prizes, and platforms given to users who hold a certain collectible. 
In the Race Rewind collection, Rare and Ultra-Rare collectibles have utilities like McLaren caps, signed merchandise, and physical experiences.

Question 5

How do I set up a wallet?

Question 6

How can I redeem the utility associated with my digital collectible?

Accepted Answer

You can view your digital collectibles on your dashboard within the OKX McLaren microsite. To redeem your utilities, click redeem and complete the pop-up form. You can redeem one or multiple utilities simultaneously.
Once you redeem a Rare or Ultra-Rare collectible, your collectible will be replaced with one which says “utility claimed”. This NFT is tradable, but the utility will no longer be redeemable. 
Physical prizes will be shipped via DHL. You’ll receive updates via text. If you win an experience, you’ll be contacted via email.

Question 7

How do I know what rarity my digital collectible is?

Accepted Answer

You can identify the rarity of your digital collectible by checking their rarity icon, which will state Classic, Rare, or Ultra-Rare.

Question 8

Where will my digital collectible be stored and how can I access my collection?

Question 9

When do I have to claim my digital collectible utility?

Accepted Answer

Utilities must be claimed within three weeks of the minting window closing. Utilities cannot be claimed after this time. 
Once the claiming window ends, or once a utility is claimed, Rare or Ultra-Rare collectibles will be marked with a stamp to say the utility is no longer available. This is to prevent users from claiming multiple prizes for a collectible, or trading Rare or Ultra-Rare collectibles that no longer have a utility.

Question 10

What if I cannot use my prize, or I don’t want to redeem it?

Accepted Answer

You can sell any Race Rewind digital collectible on the OKX Marketplace for free or for a fee of your choosing. 
Utilities must be claimed within 3 weeks of the minting window closing. 
After the redemption window has closed, you’ll still be able to trade your Rare and Ultra-Rare collectibles, but it will no longer be possible to redeem their utility.

Question 11

How do I trade or sell my digital collectible?

Question 12

What happens if I miss the digital collectible drop?

Accepted Answer

The Race Rewind program will release digital collectibles each race weekend between 10am GMT Friday - 10am GMT Monday. If you don’t claim one during this period, you can purchase your missing collectible on the OKX Marketplace. 
You must have a full collection of 24 collectibles (one per race of any rarity) to be in with a chance of winning the end of season grand prize.

Race Rewind Digital Collectibles

McLaren Racing

Las Vegas GP Race Rewind 2024

Description