OKX x McLaren NFT Sweepstakes Terms & Conditions
Official Rules for Race Rewind Digital Collectibles Sweepstakes
No Purchase Necessary. A Purchase Will Not Increase Your Chances of Winning.
Overview: This Sweepstakes is organized by OKX Technology Services Pte. Ltd. (“OKX”). OKX will release a two-tiered NFT drop in celebration of its partnership with McLaren Racing Limited (“McLaren”). The first-tier NFTs will celebrate individual races in McLaren’s 2024 Season. The second-tier NFTs will commemorate McLaren’s 2024 Season at the year’s end. Some of the NFTs will have prizes, as described in more detail below. You may not participate in this Sweepstakes if you are located in any of the Restricted Jurisdictions set forth in Section 2.
Eligibility: To participate in this Sweepstakes, you must be at least eighteen (18) years old and the age of majority in the country you reside. The following people are not eligible to enter, however:
Residents of Australia, the Bahamas, Bangladesh, Belgium, Bolivia, Brazil, Canada, China, Crimea, Cuba, Donetsk, Hong Kong, India, Iran, Iraq, Italy, Luhansk, Malaysia, Mexico, North Korea, Philippines, Singapore, Syria, Russia, Thailand, Ukraine, or Ascension, Bovet Island, Indian Ocean Territory, French Southern Territories, Heard & Mcdonald Islands, Pitcairn, Saint Pierre & Miquelon, Tajikstan, Tristan Da Cunha, US Minor Outlying Islands (Baker Island, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Atoll, Palyra Atoll, Wake Island), Western Sahara (collectively, the “Restricted Jurisdictions”).
Employees of OKX and McLaren, their parents, affiliates, subsidiaries, promotional agencies, sales representatives, as well as the immediate family (spouse, parents, siblings, and children) and household members of those employees.
Entry Periods: The Sweepstakes starts on 7 June 2024 and ends on 23 December 2024. The Sweepstakes is divided into 16 entry periods, each one of which corresponds with a race McLaren Racing’s 2024 season, starting with the Canadian Grand Prix, plus an additional 17th post-season entry period (each, an “Entry Period”). Click here for a current schedule. Each of the first 16 Entry Periods will start at 10:00 AM GMT on the Friday before the race and end at 10:00 AM GMT on the Monday after the race. The 17th Entry Period will start at 10:00 AM GMT on 13 December 2024 and end at 10:00 am GMT on 23 December 2024. OKX’s computer is the official time-keeping device for the Sweepstakes.
How to Enter:
Click here to log in to your OKX Web3 wallet. If you do not have an OKX Web3 Wallet, you can download the OKX mobile app or desktop app from the relevant app store and make one for free. Click here for additional instructions.
Mint an NFT during any Entry Period. If you mint an NFT during the first Entry Period, you will be airdropped the NFTs from the previous 5 races within seven days. If you collect all 24 NFTs in the collection, you will also have an opportunity to mint an NFT during the final Entry Period.
The following details apply to Races 1-16, as further described below: The minting window for every single race in the 2024 calendar, starting from the Canadian Grand Prix, will open at 10am GMT on the Friday of a race weekend, and will close at 10am GMT the Monday post race day. During the minting window, the NFTs will appear as a mystery box in users’ wallets/ dashboards. NFTs will be automatically updated by 00:00 on the Wednesday post race to reveal whether an entrant has won a prize. Prizes must be redeemed (i.e. claimed) within 3 weeks of the minting window closure (i.e. three weeks from the Monday 10am GMT post the race). Unclaimed prizes will expire after this time. The minting, redeeming and expiry period for each subsequent NFT drop will follow the exact same time frame.
For example, for Race 1 Canada Grand Prix: The mint window will open at 10am GMT Friday 7th of June 2024 and will close at 10am GMT Monday 10th June 2024. The NFT will be automatically updated in the users wallet by 00:00 on Wednesday 12th 2024 to reveal whether an entrant has won a prize. Users then have three weeks from the time the minting window closes, so until July 1st 2024 in this example to redeem any associated prizes. Unclaimed prizes will expire after this time.
There is a limit of one (1) entry per person per Entry Period. By entering, you represent that (a) you are not located in any of the Restricted Jurisdictions, (b) that you agree to these Official Rules and the OKX Web3 Wallet Services User Agreement, and (c) that you agree to OKX’s decisions regarding the Sweepstakes, which are final and binding. Winning a prize is contingent upon fulfilling all requirements in these Official Rules.
After the Canadian Grand Prix, any user holding a Canadian Grand Prix NFT will be automatically airdropped a classic edition of the previous Grand Prix’s in the F1 season (which are: Bahrain, Saudi Arabia, Australia, Japan, China, Miami, Imola, Monaco).
Selection of Winners: For Entry Periods 1-16 (2024 McLaren race schedule) and Entry Period 17 (year-end NFT), everybody that mints an NFT will be entered into a chance to be entered into a prize-winning opportunity. Mints for each Entry Period are open at the times listed in Sections 3-4. In other words, all eligible participants receive an NFT with its rarity to be determined. From there, all eligible participants who minted an NFT will be entered into a computer-generated program for the selected number of prizes for that Entry Period, as provided in Section 7. The odds of winning a prize depend on the number of eligible participants who mint an NFT for a particular Entry Period. Winners will have three weeks, from the time and date the minting window closes, to redeem their NFT prize within the OKX marketplace. In order to 'redeem' the prize, the user must select the rare or ultra rare NFT in their dashboard, click 'redeem' button, and enter their contact and shipping details. OKX or their partner representatives will then be in contact (via the email details provided by the winner) within 30 days to arrange the specific prize details with the winner.
Potential Winner Requirements: Except where prohibited, a potential winner may be required to complete and return a declaration of eligibility and liability/publicity release. If a potential winner fails to sign and return these documents within the required time period, he/she will forfeit the prize.
Prizes: The following chart summarizes prizes are available at the start of the Sweepstakes along with the approximate retail value (the “ARV”) of each prize:
Entry Period Prize Quantity ARV 1 MTC Race Watch 7 £475 / $600 Shadow Cap 20 £40 / $50 2 Virtual Driver Briefing 10 £0 / $0 Cobranded cap 30 £35 / $45 3 2 GS Tickets (+$1,000 for flights and accommodations) 2 £1,600 / $2,025 Shadow Cap 20 £40 / $50 4 Virtual Driver Briefing 10 £0 / $0 Cobranded cap 30 £35 / $45 5 MTC Race Watch 7 £475 / $600 Shadow Cap 20 £40 / $50 6 MTC Tour 10 £95 / $120 Replica Cap 26 £43 / $54 7 2 GS tickets, paddock tour, driver meet-and-greet (+$1,000 for flights + accommodations) 2 £1,600 / $2,025 Cobranded cap 30 £35 / $45 8 Virtual Driver Briefing 10 £0 / $0 Cobranded cap 30 £35 / $45 9 Signed cap 5 £40 / $50 Cobranded cap 30 £35 / $45 10 MTC Tour 10 £95 / $120 Cobranded cap 30 £35 / $45 11 MTC Tour 10 £95 / $120 Replica Cap 27 £43 / $54 12 Virtual Driver Briefing 10 £0 / $0 Cobranded cap 30 £35 / $45 13 2 GS tickets, paddock tour, driver meet-and-greet (+$1,000 for flights + accommodations) 2 £1,600 / $2,025 Cobranded cap 30 £35 / $45 14 MTC Tour 10 £95 / $120 Cobranded cap 30 £35 / $45 15 Signed cap 5 £40 / $50 Cobranded cap 30 £35 / $45 16 Signed cap 5 £40 / $50 Cobranded cap 30 £35 / $45 17 Signed overalls 1 £80 / $100 Replica Cap 27 £43 / $54 18 Signed cap 5 £40 / $50 Cobranded cap 30 £35 / $45 19 Signed cap 5 £40 / $50 Cobranded cap 30 £35 / $45 20 2 McLaren Paddock Club tickets for a race in the 2025 racing season (specific race to be discussed with the winner), one hot lap experience, race watch for 2 people, drive to track with a driver or management (to be confirmed who), and $2,500 for flights and accommodation. 1 £17,700 / $22,500 (depending on the race selected) Prize Details:
McLaren Thought Leadership Center (“MTC”) Race Watch: This prize includes the opportunity to come to the McLaren Thought Leadership center, based in Woking, UK, to watch the Belgium grand prix live screening in the OKX theater. This will take place from July 26th - 28th 2024. The winner will be able to listen in on a headset to the live team and race engineer updates from the control room.
Virtual Driver Briefing: This prize includes a virtual driver meet-and-greet via Zoom, which will be available for the winner in 2024 season at a date suitable for both the winner and driver. This prize must be used in 2024 or the winner will automatically forfeit it.
MTC Tours: This prize is the opportunity to come to the McLaren Thought Leadership center, based in Woking, UK, where the McLaren team will provide a full tour of their center, which includes the iconic McLaren Boulevard which features racing cars from each year, all the past trophies, etc. This prize is eligible for use in 2024, OKX will work with the winner to book this prize at a date in 2024 that suits them, note availability to book this prize depends on McLaren’s booking schedule, but OKX and McLaren will do their utmost to book the prize in at a date that suits the winner. This prize must be used in 2024 or the winner will automatically forfeit it.
General: A winner is responsible for paying any applicable income taxes and any and all other costs and expenses – such as travel and accommodation expenses – listed above. Any prize details not specified above will be determined by OKX, in its sole discretion. A prize may not be transferred prior to award and must be accepted as awarded. A winner may not request cash or a substitute prize; however, OKX reserves the right to substitute a prize with another prize of equal or greater value if the advertised prize is not available for any reason, as determined by OKX, in its sole discretion.
The total approximate retail value of all prizes available is $74,070.
General Conditions: In the event that the operation, security, or administration of the Sweepstakes is impaired in any way, OKX may, in its sole discretion, either: (a) suspend the Sweepstakes to address the impairment and then resume the Sweepstakes; or (b) award the prizes at random from among the eligible entries received up to the time of the impairment. OKX reserves the right, in its sole discretion, to disqualify and seek damages from any individual who tampers with the operation of the Sweepstakes, violates these Official Rules, or acts in a disruptive or unsportsmanlike manner. OKX’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision. Proof of sending any communication to OKX by mail shall not be deemed proof of receipt of that communication. The Sweepstakes is subject to federal, state, and local laws and regulations and is void where prohibited.
Privacy and Publicity: Any information you submit as part of the Sweepstakes will be used in accordance with OKX’s Privacy Notice. By participating in the Sweepstakes, you grant OKX permission to share any personally identifiable information for the purpose of administration and prize fulfillment.
Release and Limitations of Liability: By entering, you agree to release and hold harmless OKX, McLaren, their parents, subsidiaries, affiliates, and agencies, and each of their respective officers, directors, employees, and agents (collectively, the “Released Parties”) from and against any claim or cause of action arising out of participation in the Sweepstakes or receipt or use of any prize, including, but not limited to (a) unauthorized human intervention in the Sweepstakes; (b) technical errors related to computers, servers, providers, or telephone or network lines; (c) printing errors; (d) lost, late, postage-due, misdirected, or undeliverable mail; (e) errors in the administration of the Sweepstakes or the processing of posts; or (f) injury or damage to persons or property. You further agree that in any cause of action, in no event shall the Released Parties be liable for attorneys’ fees or other legal costs. You waive the right to claim any damages whatsoever, including, but not limited to, punitive, consequential, direct, or indirect damages.
Fees:
Creating an OKX Web3 wallet is free. Minting an NFT may incur various gas fees. Gas fees for minting NFTs solely for participation in this Sweepstakes will be covered by OKX and/or Polygon.
The Sweepstakes utilizes a burning mechanism which provides that once an eligible user redeems the utilities associated with a specific NFT, it is no longer tradeable, purchasable, or sellable.
Additional Details:
Ownership: When you receive an NFT in connection with the Sweepstakes, you acknowledge and agree that while you may own such NFT, you do not own any intellectual property rights in the artwork. Ownership of all NFTs is mediated entirely by the smart contract and our blockchain network. OKX does not investigate and cannot guarantee or warrant the marketability, legality, or value of any NFT. We may not seize, freeze, or modify the ownership of any NFT.
General Disclaimer: The Sweepstakes and your participation in it does not constitute and shall not be considered to be: (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy or sell securities; or (iii) financial, accounting, legal, or tax advice. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/ tax/ investment professional for questions about your specific circumstances. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless. Digital assets are not covered by insurance against potential losses and are not subject to FDIC or SIPC protections. Historical returns are not indicative of future returns, and past performance is not indicative of future results. OKX is not responsible for any potential losses. Not all products are offered in all regions. For the full list of OKX's restricted jurisdictions and more details, please refer to the OKX Terms of Service and Risk & Compliance Disclosure.
Blockchain Malfunction: Blockchains may be susceptible to malicious cyberattacks and may contain exploitable flaws, which may result in security breaches and the loss or theft of blockchain assets. You understand and agree that if OKX or any third party blockchain(s) cannot function properly and you are unable to access the Sweepstakes or the NFT in your possession, including without limitation, failure, delay, interruption, lack of system response, or delayed system response, or any other abnormal and/or unexpected circumstances, OKX shall not be liable for any losses. These circumstances include but are not limited to: (i) cases where a third party blockchain(s) suspends, discontinues, and/or terminates its business, closes down, and/or abnormally suspends or terminates the services; (ii) service suspension(s) due to maintenance as announced by a third-party blockchain; (iii) the system fails to transmit data; (iv) force majeure event(s) that lead to the suspension of the third-party blockchain; (v) third-party blockchain service interruption or delay arising from hacking, computer viruses, technical adjustments or failure, website upgrades, banking issues, temporary closures arising from legal or government regulations, etc.; (vi) third-party blockchain service interruption or delay caused by its computer system being damaged, defective, or unable to normally perform; (vii) losses arising from technical problems that cannot be predicted or solved by existing technology in the industry; (viii) losses you or other third parties suffer that arise from the fault or delay of the third-party; (ix) losses you or other third parties suffer that arise from changes in laws, regulations, and/or government orders; and/or (x) losses you or other third parties suffer that arise from force majeure events caused by unforeseeable, unavoidable, and/or unsolvable objective circumstances. You understand and agree that the aforementioned reasons may lead to abnormal transactions, market interruptions, and other possible abnormal circumstances. You understand and agree that OKX shall not be liable for any losses arising from or related to any of the aforementioned circumstances.
No Guarantee of Specific Timing: You understand and agree that when you redeem or access your NFTs, the time it takes for you to receive the NFTs into your digital wallet may vary, and the NFT(s) received and displayed in your digital wallet shall be final. OKX is not liable for any losses as a result of the aforementioned case.
Wrong Address: OKX is not responsible for any losses resulting from you sending NFTs to the wrong address(es). You shall ensure that you deposit your NFTs to the right address(es). You shall provide the correct address of your wallet that you will use to receive your NFTs. OKX shall not be liable for any losses resulting from your own fault or error, including providing an incorrect or wrong wallet address for receiving NFTs or transferring your NFTs to a wrong address.
Disputes: The laws of the State of California govern all matters arising out of or relating to this Agreement without giving effect to any conflict of law principles. Any dispute or claim arising out of or related to this Agreement shall be subject to binding arbitration administered by JAMS (see www.jamsadr.com). The JAMS arbitration shall be conducted in San Francisco, California before a single JAMS arbitrator, who shall be a retired judicial officer. The parties shall bear their own attorneys’ fees and costs of arbitration unless otherwise ordered by the arbitrator. The parties shall share the JAMS arbitrator fees and expenses equally. The JAMS arbitration will be governed by the JAMS Comprehensive Arbitration Rules & Procedures, as modified by this Agreement. Dispositive motions will be allowed, and the arbitrator must follow this Agreement, will have the same power to award damages and relief as a court (including reasonable attorney’s fees and costs), and will issue a binding written decision, which can be enforced by entry of judgment by any court of competent jurisdiction. If arbitration before JAMS is unavailable or impossible for any valid reason, as determined by a court of competent jurisdiction, then such arbitration will be conducted by, and according to the rules and regulations then in effect of, the American Arbitration Association (AAA). In the event either party is required to seek and obtains an order compelling arbitration, the prevailing party is entitled to seek their reasonable attorneys’ fees and costs incurred with procuring the Order.
The foregoing arbitration provision shall not apply to a claim by a party seeking equitable or injunctive relief arising out of or related to this Agreement, which may be brought by a party in the state and federal courts of San Francisco, California to which each party consents to the jurisdiction thereof and waives forum non conveniens.
To Find Out Who Won: If you are a US resident and would like information on who won prizes worth $25 USD or more, send a written request along with a self-addressed stamped envelope to One Sansome St, Suite 3500 PMB 6005, San Francisco, CA 94104. Requests must be received within 30 days after the Sweepstakes ends.
Sponsor: The Sweepstakes is sponsored by OKX Technology Services Pte. Ltd., 12 Marina Boulevard, #36-01/02 Marina Bay Financial Centre, Singapore 018982.