NFT Collection Rules and Terms for OKX x McLaren

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The OKX x McLaren NFT collection is an exclusive digital experience celebrating the thrilling partnership between OKX and McLaren Racing Limited. Designed for fans of Formula 1, blockchain technology, and digital collectibles, this limited-time event offers unique NFTs tied to the 2024 racing season, with opportunities to win real-world rewards. Below is a comprehensive overview of how to participate, earn NFTs, and potentially claim exciting prizes.

Eligibility and Participation Requirements

To take part in the OKX x McLaren NFT collection, participants must be at least 18 years old and legally recognized as adults in their country of residence. However, residents of certain restricted jurisdictions are not eligible. These include:

Additionally, employees of OKX and McLaren Racing Limited — along with their family members, affiliated individuals, subsidiaries, advertising agencies, or representatives — are disqualified from participation.

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Event Schedule and Collection Periods

The NFT collection campaign runs from June 7, 2024, to December 23, 2024, and is divided into 17 distinct participation periods:

Each race-linked period begins at 10:00 GMT on Friday before the race weekend and ends at 10:00 GMT on Monday following the race. The final period runs from December 13 to December 23, 2024, also at 10:00 GMT.

Timekeeping is governed by OKX’s official computer system. All NFT minting activities must occur within these defined windows.

How to Mint and Collect NFTs

Participation involves three key steps:

  1. Access the OKX Web3 Wallet: Users must log in or create a free OKX Web3 Wallet via the mobile app or desktop platform.
  2. Mint During Active Periods: While the event is live, users can mint NFTs during any participation window. Those who mint during the first period will receive retroactive NFTs from five prior races.
  3. Complete the Full Set: Collecting all 24 NFTs in the series unlocks eligibility to mint a special edition NFT during the final post-season period.

During each race weekend’s collection phase, NFTs appear as "Mystery Boxes" in users’ wallets. After the race concludes, these boxes automatically reveal their contents by Wednesday at 00:00 GMT. Winners then have three weeks from the end of the collection period to claim their prize; unclaimed rewards expire afterward.

Prize Distribution and Selection Process

Every user who mints an NFT during a participation period enters a random draw for that period’s available prizes. The odds depend on total eligible participants in each window.

Prizes range from digital memorabilia to immersive real-world experiences. Winners must claim their reward through the OKX dashboard by providing contact and shipping details. OKX or its partners will reach out within 30 days to coordinate delivery or experience scheduling.

Types of Prizes Include:

The total approximate retail value of all prizes is $74,070.

Important Legal and Usage Terms

Intellectual Property Rights

Owning an NFT does not grant intellectual property rights to the associated artwork. All rights remain with OKX and McLaren. Ownership is secured via smart contracts on the blockchain.

Gas Fees and Transaction Costs

Creating an OKX Web3 Wallet is free. Gas fees for minting are covered by OKX and Polygon for this campaign only.

Burn Mechanism

Once a prize-linked benefit is redeemed using an NFT, that NFT can no longer be transferred or traded — it is permanently "burned."

No Investment Advice

This campaign is not financial advice or a securities offering. Digital assets carry market risk and may lose value. Participation should align with personal risk tolerance.

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Technical and Operational Disclaimers

OKX is not liable for losses due to:

Participants acknowledge that blockchain systems may experience disruptions beyond OKX’s control.

Frequently Asked Questions (FAQ)

Q: Can I participate if I live outside eligible regions?
A: No. Residents of restricted jurisdictions cannot join due to legal and regulatory constraints.

Q: What happens if I don’t claim my prize within three weeks?
A: Unclaimed prizes expire automatically after the 21-day window closes.

Q: Do I own the copyright to my NFT?
A: No. You own the token but not the underlying intellectual property.

Q: Are there any costs to mint NFTs?
A: No — gas fees are fully reimbursed by OKX and Polygon for this event.

Q: Can I trade or sell my NFT after winning a prize?
A: Only if the NFT hasn’t been used to redeem a benefit. Once claimed, it’s burned and non-transferable.

Q: How will I be contacted if I win?
A: OKX will email you using the contact information you provide when claiming your prize.

Dispute Resolution and Governing Law

All disputes related to this campaign are subject to binding arbitration under JAMS rules in San Francisco, California. Participants waive class-action rights. Legal claims must comply with California law.

For U.S. residents seeking winner information for prizes valued at $25 or more, written requests with a self-addressed envelope can be sent to:
One Sansome St, Suite 3500 PMB 6005, San Francisco, CA 94104
Requests must arrive within 30 days of the campaign's conclusion.

Sponsor Information

This promotion is sponsored by:
OKX Technology Services Pte. Ltd.
12 Marina Boulevard, #36-01/02 Marina Bay Financial Centre
Singapore 018982

Core Keywords:

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