Announcement and Tutorial on OKX Football Cup - Mint NFTs, Win Prizes – Help center

Event Summary

As football teams take to the fields of the OKX Football Cup, you can predict winners in the "group stage", "knockout round", or "third-place" match, mint your favorite teams' NFTs, and celebrate your teams' success by sharing "prize pools" with your friends. This article walks you through the ins and outs of how prizes are distributed during different stages of the OKX Football Cup. A tip: you can jump to different parts of this article by searching for key words stated above using Ctrl+F.

To have a whale of a time at this event, stay in sync with your teams' progression in the 2022 FIFA World Cup, stay on top of the NFT prices, and make swift and smart decisions to "join or exit the game".

Before you set out to "collect rewards", remember to "redeem funds", and most importantly, soak up some nice Football Cup vibes with your friends as you root for your dream teams!

Event Details

Schedule
- Nov 5, 2022 — Dec 3, 2022 Mint team NFTs for free
- Nov 21, 2022 — Dec 3, 2022 Group stage (Mint stays open until the FIFA 2022 Group stage ends)
- Dec 3, 2022 — Dec 20, 2022
- Dec 22, 2022 Redeem stakes and collect rewards

Step 1 Grab your NFTs

You can mint up to 3 team NFTs for free to back your 2022 World Cup favorites before 12:00 Dec 3, 2022 (UTC+0). You can also buy football team NFTs via OKX NFT Marketplace, our secondary NFT market.

Mint NFTs: You can mint football team NFTs on the event page of OKX Football Cup. It's free of charge except for the gas fees. You have to stake 0.01 ETH for each NFT you mint — stakes can be redeemed after the OKX Football Cup ends. Every address can mint up to 3 NFTs for 1, 2, or 3 football teams. When football teams are playing a match, minting is temporarily unavailable for their NFTs.

  Note:

  You can mint only 1 football team NFT through our website. To grab 2 more NFTs, download our OKX App here.

  You can mint 3 NFTs in one go on our App to save gas fees.

How to mint Free OKX Football Cup NFT? (Web)

Visit OKX Website, switch to Wallet and click [NFT Marketplace], you can see the OKX NFT Football Cup landing page, then click [Free Mint] to connect to your wallet and mint your own OKX Football NFTs.

Please note, you can mint 1 NFT on the website, but you can download OKX App to grab 2 more NFTs.

Pick your favorite team from 32 teams and click [Select team]. For every 0.01 ETH you stake, you can mint one football team NFT for free. Your stakes can be redeemed after the event ends.

If you don't have ETH in your Ethereum wallet, you can [Swap] for some ETH or [Add funds] to your wallet. Please also deposit some ETH to pay for the network fees for the purpose of transfers, swaps, and so on.

After clicking [Free mint], and confirming in your wallet, you've successfully minted your OKX Football Cup NFTs. You can click [View my NFTs] to view the NFTs you own.

Step 2 Share the million-dollar prize pool — it keeps GROWING

Prizes for the group round

From Nov 21, 2022 - Dec 3, 2022, each match has a fixed 20,000 USDT prize pool. Before a match, OKX will snapshot the list of NFT owners for the competing teams the moment a match starts. After it ends, NFT owners who have backed the winning team will share the prize pool. If a match ends in a draw, NFT holders on each side will share a prize pool of 10,000 USDT.

Let's suppose France and Germany are playing a match:

John holds 1NFT for France, and France has 100 NFTs in total at the beginning of the group stage.

Mike holds 2 NFTs for Germany, and Germany has 1,000 NFTs in total at the beginning of the group stage.

There can be several possible scenarios:

Germany/France wins:
- Germany wins:
  - The rewards Mike can get = 2 NFTs/ 1,000 NFTs * 20,000 USDT = 40 USDT
  - John can get 0 USDT.
- France wins:
  - The rewards John can get = 1 NFT/ 100 NFTs * 20,000 USDT = 200 USDT
  - Mike can get 0 USDT.

Germany and France draw:
- The rewards John can get = 1 NFT/ 100 NFTs * 10,000 USDT = 20 USDT
- The rewards Mike can get = 2 NFTs/ 1,000 NFTs * 10,000 USDT = 100 USDT

Rewards are reflected in the total reward balance of participants, and will not change whether you sell, transfer, or burn the football team NFTs. You can start collecting rewards on Dec 20, 2022. During the group stage, two teams will be eliminated in each group.

Prizes for the knockout round

Prizes for the matches in the knockout round are separate from the USDT rewards determined in the Group stage. For each NFT minted, OKX adds 10 USDT to the prize pool. For each match during the knockout round, the losing team's prize pool is added to the winning team's prize pool. After the eighth-finals end, participants can decide to exit the game to collect the earned prize money, or they can hold their NFTs and stay in the OKX Football Cup for a chance to win more rewards.

Prizes to be distributed during the knockout round remain unchanged during the group stage. During the group stage, 2 teams will be eliminated in each group. After the group stage ends and before the knockout round kicks off, the prize pools of these eliminated teams will be added to the prizes of the football teams that have progressed from the group stage.

During the knockout round, the prizes of the eliminated teams will be added to the prize pools of the victorious teams. N.B. The 2 teams in the third-place game have no rewards in their prize pools, as they've been eliminated in the previous round. Their prize pools will have a primary funding of 100,000 USDT.

On Dec 7, 2022, 8 teams will have progressed from the Round of 16. Participants can choose to hold on to their NFTs or burn them to get rewards. The prizes distributed to the participants during the Knockout round will be reflected in their total rewards.

How rewards are distributed during the Knockout round:
  A match takes place between France and Germany. Two participants, Tom and Mike, each of whom holds an NFT of France. Alice, another participant, holds an NFT of Germany. France has 100 NFTs in total, and a reward pool of 20,000 USDT. Germany has 100 NFTs in total, and a reward pool of 10,000 USDT.

  Mike burns NFT, and Alice and Tom hold their NFTs — Mike burns his France NFT 5 minutes before the match starts. Alice and Tom decide to hold their NFTs. As such, Mike will have 200 USDT added to his final prize pool (his rewards = 100 NFT/ 20,000 USDT). Given that no NFTs are burned afterwards, France will have 99 NFTs and 19,800 USDT as rewards in this match.

  France clinches a victory — France merges Germany's 10,000-USDT prizes. France's knockout prize pool grows to 29,800 USDT. Tom can decide to burn his NFT and add 301 USDT to his rewards (29,800/99) France plays another game in the knockout round. Tom can also continue to hold his NFT and join the prediction in the following rounds.

Two takeaways:

A. If your team notches a win, your team's prize pool at the knockout stage will grow. You can burn your NFTs anytime and claim your share of the rewards. But burning your NFT also means that you are no longer entitled to the rewards this team NFT might earn for you in its future progression.

B. If your team loses a match and you've burned the NFT before this match, you will share the rewards determined the moment you burn your NFT. The losing team's prize pool will be added to the prizes of the winner. If you own the NFT of the losing team throughout the match, you are entitled to the team's prizes at the group stage.

Prizes for the Third-place game

The third-place game has a fixed 100,000 USDT prize pool. The moment the match starts, OKX will snapshot the list of NFT owners for the competing teams. Each NFT for the winning team entitles the holder to a chance for an equal share of the 100,000 USDT prize pool.

Both teams competing for third place do not inherit any prizes from the knockout stage. WHY?

In the third-place match, both teams have lost their prizes during the knockout stage. However, OKX offers 100,000 USDT to fund the prizes of the third-place game.

Our tip:

Stay in sync with the 2022 FIFA World Cup to boost your chances of winning rewards. To get the most out of this event, stay tuned in on the latest prize pools, NFT prices, make smart decisions on NFT minting and trading, and pick the right moment to enter or exit the games.

Terms

2022 FIFA World Cup Schedule

A total of 64 games will be played to decide the winners of the 2022 Qatar World Cup.

There are 48 matches in the group stage.

There are 16 matches in the knockout round (including the final and third-place game).

(Source: https://www.fifa.com/fifaplus/en/articles/match-schedule-en)

"Spot rewards", "Fixed rewards", or "Primary rewards":

In each match at the group stage, there is a fixed amount of 20,000 USDT in prizes per match for a total of 48 matches.

In the third-place game, there are 100,000 USDT in the fixed prizes.

Prize pools in the knockout stage

In the knockout stage, there are also prize pools.

Your prizes from a certain team's NFTs are subject to the total supply of the team's NFTs. From the start of OKX Football Cup to the end of the Group Stage in the 2022 World Cup at 12:00 on Dec 3, 2022 (UTC), for each NFT minted by the participants, OKX adds 10 USDT to the prize pools in the knockout stage.

When NFTs are burned, the prize pools of the NFT's team will change accordingly. When there are only 8 teams remaining, participants can burn their team NFTs anytime and add rewards to their reward balance on the spot. Importantly, the rewards are removed from the prize pool the moment the NFTs are burned and added to the participants' final prizes.

During the group stage, the prizes to be determined in the knockout stage remain unchanged. In the group stage, there is a primary prize pool of 20,000 USDT to be distributed. If a team does not make it to the knockout stage, its prizes to be distributed in the knockout stage will be transferred — added equally to the prizes of other teams that have competed in the same group and that have qualified for the knockout stage.

In the third-place match, both teams have lost their prizes during the knockout stage. However, OKX offers 100,000 USDT to fund the prizes for the third-place game.

Mint NFTs

Free mint of football team NFTs is closed after the group stage ends — at 12:00 on Dec 3, 2022 (UTC)

If you've minted the NFT(s) of a certain team BEFORE its matches in the group stage end, you can win these rewards from the NFT(s):

A share of prizes from the 20,000 USDT prize pools in the group stage

Prizes in the knockout stage if the team progresses into this stage. These rewards come from the 10 USDT that OKX adds for every NFT minted by the participants.

If you've minted the NFT(s) of a certain team AFTER its matches in the group stage end, you can win these rewards from the NFT(s):

Prizes in the knockout stage if the team progresses into this stage. These rewards come from the 0.01 ETH that OKX adds for every NFT minted by the participants.

Burn NFTs

When the Round of 16 ends and 8 teams have progressed, participants can decide to burn their football team NFTs anytime they would like. The prizes in the knockout stage are added to participants' prize balance the moment participants burn their NFTs. Once their NFTs are burned, participants can no longer join the future predictions. NFTs will be burnt once participants decide to execute the process. During the knockout stage, when two teams are in a match, burning their NFTs is temporarily unavailable.

Here's how rewards are added to participants' prize balance once NFTs are burnt:

Let's suppose:

During the Round of 16, Alice holds 1 NFT of the Brazil team. Brazil has 10,000 USDT in the prize pool for the knockout stage, and has a total of 100 NFTs. Before Brazil plays another match, Alice burns her NFT.

As such, Alice adds 100 USDT (10,000 USDT/ 100 NFTs) to her rewards. Brazil's prizes for the knockout stage then becomes 9,900 USDT, and Brazil has 99 NFTs in total.

How prizes are added to your final rewards:

Once your football team NFT(s) are burnt, your share of the prizes in the rewards in the knockout stage will instantly be added to your prize balance. Participants can collect their prizes after the World Cup ends, on Dec 20, 2022.

Note:

Since the prize pools in the group stage are fixed, and the prizes during the knockout stage remain unchanged in the group stage, participants can't burn NFTs to finalize their rewards.

Before the Round of 16 ends and the knockout stage begins, participants can't burn NFTs. Participants can—

A. Keep holding your teams' NFTs to support them. If your team experiences a loss, its prizes in the knockout stage will be transferred to the winner's prize pool. Holders of this team's NFTs can collect those prizes accumulated during the group stage.

B. Sell your teams' NFTs if you decide it's the moment to exit the game.

During the third-place match, there are no rewards in the prize pools for both teams before the match begins. But once the match starts, there will be an OKX-funded 100,000-USDT prize pool that participants stand a chance to share.

FAQs

When can I exit and game to have my rewards settled?

If you decide it's the moment to sell your team NFTs and exit the game , you can:

Sell your football team NFTs on the secondary market — anytime during the event

The funds you earn from selling the NFTs are instantly deposited in your wallet

Burn your football team NFTs and settle your rewards won during the knockout stage (prizes from the third-place game are separate)

Once you've burnt your NFTs, your rewards will be added to your final collectible prizes. You can collect the rewards after the 2022 World Cup ends.

What do my final prizes come from?

You stand a chance to share 20,000 USDT per match during the group stage. Your rewards for holding the winning teams' NFTs are added to your final prizes.

After the Round of 16 ends, if you burn your NFTs, rewards will be added to your final prizes.

Note: The funds you earn from trading football team NFTs are deposited in your wallet instantly, and are separate from your final prizes.

How to collect rewards if my team clinches a victory?

On Dec 22, 2022, participants can start redeeming their stakes. Participants can collect both their prize money and stakes in one go.

What is OKX's anti-fraud policy?

To mint free Football team NFTs, participants have to stake some ETH . These funds are meant to prevent fraudulent behavior, and participants will be able to redeem them after the Football Cup ends. OKX will scrutinize addresses with suspicious activity. Addresses that are found to have committed fraud will not receive the rewards.

OKX NFT is committed to improving our products and services. For more information about Web3, blockchain, or OKX, you are welcome to visit our Help Center.

OKX NFT Team

Nov 10, 2022 (UTC)