The partnership between OKX and McLaren brings fans an exciting way to engage with Formula 1® through digital collectibles — unique, blockchain-based tokens that celebrate each race of the 2024 season. Whether you're new to Web3 or a seasoned collector, this guide answers your most pressing questions about the Race Rewind collection, how to claim and manage your assets, and what rewards await.
What Are Digital Collectibles?
Digital collectibles are unique digital tokens stored on a blockchain. Unlike standard cryptocurrencies, these tokens are non-fungible, meaning each one is distinct and cannot be exchanged on a one-to-one basis. Each collectible carries unique metadata that verifies its authenticity, ownership, and rarity.
In the OKX x McLaren Race Rewind collection, every digital collectible represents a specific Formula 1® race from the 2024 season. These aren’t just digital souvenirs — they’re verifiable, tradable assets that can unlock real-world rewards.
👉 Discover how digital collectibles are transforming fan engagement in sports.
When Will Race Rewind Collectibles Be Available?
New digital collectibles are released for every Grand Prix weekend:
- Available: From 10:00 AM GMT Friday to 10:00 AM GMT Monday
- Consistent Timing: All races, including the Las Vegas Grand Prix, follow this schedule regardless of local time differences
If you miss the claiming window, don’t worry — you can still acquire the collectible through the OKX secondary marketplace. This ensures every fan has a chance to complete their collection, even if they weren’t online during the drop.
What Are the Benefits of Claiming Race Rewind Collectibles?
The Race Rewind collection features 24 digital collectibles — one for each F1® race in 2024. Each collectible comes in one of three rarities:
- Classic
- Rare
- Ultra Rare
While Classic collectibles serve as authentic McLaren memorabilia, Rare and Ultra Rare editions unlock special utilities — real-world rewards such as signed merchandise, apparel, and exclusive experiences.
At the end of the 2024 season, holders who own at least one collectible from each race (any rarity) will gain access to a limited final collectible. This ultimate reward includes rare and extremely rare versions with exclusive prizes.
Even if you only collect Classic-tier items, completing the full set makes you eligible for season-end rewards. Missing one? You can always purchase it on the secondary market.
What Is a Utility (Reward)?
In Web3 terminology, a utility refers to real-world benefits granted to owners of certain digital assets. For Race Rewind:
- Rare & Ultra Rare collectibles include utilities such as redeemable McLaren caps, signed merchandise, and VIP experiences
- These utilities are tied directly to the NFT — when redeemed, the collectible is updated to reflect this status
Once claimed, the utility cannot be redeemed again, but the collectible remains tradable. This system ensures fairness and prevents duplicate claims.
How Do I Set Up a Wallet?
To participate, you’ll need a Web3 wallet. OKX Wallet is recommended for seamless integration:
- Available as a browser extension or mobile app
- Supports multi-chain assets, including those on X Layer
- Non-custodial — you retain full control of your private keys and assets
👉 Get started with OKX Wallet and secure your digital collectibles today.
For step-by-step setup instructions, visit the OKX Learn portal to create your wallet in minutes.
How Do I Redeem My Collectible’s Utility?
Redeeming rewards is simple:
- Go to your dashboard in OKX McLaren
- Select the collectible with available utility
- Click Redeem and fill out the required form
You can redeem multiple utilities at once. After redemption:
- The NFT is automatically updated with a “utility redeemed” label
- The item remains tradable, but the reward 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].
FAQ: Common Questions Answered
Q: How do I check my collectible’s rarity?
A: Each NFT displays a clear rarity icon — Classic, Rare, or Ultra Rare — directly on its metadata in your wallet.
Q: Where are my digital collectibles stored?
A: All Race Rewind collectibles are stored on-chain in your Web3 wallet. As long as you control your wallet, you own your assets.
Q: Can I sell my collectible after redeeming the utility?
A: Yes. Even after utility redemption, your NFT remains fully tradable on the OKX marketplace.
Q: What happens if I miss a collectible drop?
A: You can purchase missed items from other collectors via the OKX secondary marketplace.
Q: Are Classic collectibles worthless since they have no utility?
A: No. While they don’t offer immediate rewards, Classic collectibles are essential for completing your set and unlocking the final season-end prize.
When Must I Redeem My Utility?
All utilities must be claimed within three weeks of the end of the claiming window for each race. After this period:
- The redemption option expires
- The NFT is stamped to indicate utility is no longer available
This prevents misuse and ensures only active participants receive rewards.
What If I Don’t Want or Can’t Use My Reward?
If you choose not to redeem your utility:
- You can sell the NFT on the OKX marketplace
- You may set your own price or list it for free
- Once the redemption window closes, the utility becomes permanently unavailable
Remember: selling a collectible with unclaimed utility may attract higher bids from collectors seeking rewards.
How Do I Trade or Sell My Digital Collectible?
Selling your NFT is straightforward:
- Access your wallet on OKX
- Navigate to the NFT marketplace
- List your collectible at your desired price
You retain full control over pricing and transaction terms.
👉 Learn how to maximize your NFT’s value on the OKX marketplace.
Why Are There Claiming Limitations?
OKX and McLaren reserve the right to close or adjust claiming windows under exceptional circumstances — for example, if gas fees spike unexpectedly. This protects users from high transaction costs and ensures a smooth experience.
What Is X Layer?
All McLaren digital collectibles are minted on X Layer, a high-performance blockchain developed by OKX. X Layer enhances fan interaction by offering:
- Speed: Fast on-chain transactions
- Affordability: Low gas fees for global accessibility
- Security: Built with advanced zk-SNARK technology for privacy and integrity
Why McLaren Chose X Layer
- Provides a seamless on-chain experience for fans
- Reduces transaction costs significantly
- Integrates directly with OKX Exchange and OKX Wallet
- Connects users to over 50 million Web3 developers and creators
X Layer supports a growing ecosystem of decentralized applications (dApps), including major projects like:
- Infrastructure: Chainlink, The Graph, Safe
- DeFi: Curve, Frax, Renzo
- Gaming & Identity: Particle Network, Api3
McLaren NFT holders gain early access to this expanding Web3 gateway.
Why Did I Receive Multiple Collectibles After Claiming the Canadian GP NFT?
Fans who claimed the Canadian Grand Prix collectible were gifted Classic-tier collectibles from the first eight races of the 2024 F1® season. This was a special thank-you for early participation in the Race Rewind program.
These bonus items help fans jumpstart their collections and increase their chances of qualifying for end-of-season rewards.