Cryptocurrency exchange OKX and the McLaren Formula 1 Team announced Thursday that they are launching a new "Race Rewind" digital collectible series, offering fans a unique way to commemorate each F1 grand prix this season and a chance to win exclusive McLaren prizes.

Starting Friday at 10 am GMT, fans can mint the first free NFT commemorating the Canadian Grand Prix on the OKX Wallet. The NFT will be minted on OKX’s recently launched Ethereum layer-2 scaling network, X Layer.

"We want to build community and bring new utility to crypto," said OKX Chief Marketing Officer Haider Rafique, in a release. He added that the blockchain space isn’t “all about trading and investment,” but also “finding a better way to bring people closer to the things they care about."

The free collectibles combine multimedia and audio, allowing fans to relive the sights and sounds of each race as McLaren chases wins over the course of the F1 season.

Fans who collect the full set for the rest of the 2024 season will be eligible to win a special "VIP" prize, including a McLaren Fan Experience at a future race, $2,500 for travel expenses, and a hot lap around a race circuit.

OKX is one of McLaren’s primary F1 sponsors, and one of a wide range of cryptocurrency companies and projects that have embraced the growing racing league via sponsorship in recent years.

Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.