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Formula 1 team McLaren has collaborated with the crypto exchange OKX to launch a series of free non-fungible tokens (NFTs).
The collection, called “Race Rewind,” comprises 24 unique NFTs, each representing one of the 24 races in this year’s season. These NFTs feature distinct designs and a signature sound for each race.
“With digital collectibles (NFTs) […] we can put parts of the race experience on the blockchain in photo, video and audio formats,” stated Haider Rafique, OKX Chief Marketing Officer.
The first set of NFTs, named “Canadian GP Race Rewind 2024,” offers 100,000 digital collectible units. These NFTs are available for free on the OKX NFT marketplace and can be claimed until Monday, June 10.
Each NFT is initially a mystery, revealing its design and rarity level — Classic, Rare, or Ultra-Rare — after the race.
Different rarity levels provide various rewards. An Ultra-Rare collectible, for instance, unlocks eligibility for an exclusive Virtual Driver Briefing reward. A Rare collectible offers a chance to win a McLaren cap.
The NFTs are minted on OKX’s newly launched Ethereum layer-2 scaling network, X Layer, which utilizes Polygon technology.
The “Race Rewind” campaign began today and will continue until December 2024.
This initiative marks McLaren’s first foray into NFTs, although the McLaren Group has been active in the Web3 space previously.
In April 2022, the company ventured into Web3 with “MSO LAB,” a platform for hosting rare, limited-edition McLaren NFTs. Following that, in May 2022, McLaren introduced its Genesis Collection, a series of 2,012 P1 & P1 GTR supercar NFTs on the Ethereum blockchain.
