OKX, a leading global cryptocurrency exchange, has launched the OKX Football Festival, a major initiative designed to merge the excitement of international football with the innovative potential of Web3. This event features a substantial $3 million total prize pool distributed across several engaging activities, including a unique NFT game, a competitive trading contest, and exclusive staking opportunities.
The festival is timed to coincide with a major international football tournament, creating a unique digital experience for fans worldwide. It aims to demonstrate how blockchain technology and crypto can enhance fan engagement and open up new forms of participation.
What is the OKX Football Festival?
The OKX Football Festival is a comprehensive event comprising three main components, each offering different ways for users to engage and win rewards.
The NFT Football Cup
The festival kicks off with the NFT Football Cup, which offers $1 million in spot rewards. Participants can mint up to three free NFTs representing their favorite national teams. A staking requirement is involved, but all staked funds are returned in full after the tournament concludes.
The reward mechanism is dynamic. Each time a team advances through the group stages, the holders of that team's NFTs split a reward of 20,000 USDT. The prize pool for each eliminated team is transferred to the team that knocked them out, adding a strategic layer to the game. Furthermore, OKX contributes an additional 10 USDT to the overall prize pool for every NFT minted.
👉 Explore the NFT Football Cup and its rules
The 2022 OKX Football Cup Trading Competition
Starting in mid-November, the trading competition allows users to test their crypto trading skills against others. Teams of at least 10 traders will compete for a share of a prize pool worth up to $2 million.
The competition also includes additional incentives such as new user rewards, quiz-based prizes, and referral rewards, making it accessible for participants with varying levels of experience.
Earn Super Hatrick Staking Series
Launching on November 11, the Earn Super Hatrick event offers a series of high-yield staking deals for popular football fan tokens. The tokens included are:
- Manchester City ($CITY)
- Portugal ($POR)
- Argentina ($ARG)
- Flamengo ($MENGO)
- Chiliz ($CHZ)
The event boasts potentially high Annual Percentage Yields (APYs), reaching up to 300% for $CITY and 200% for $POR, $ARG, and $MENGO. This presents a significant opportunity for fans to earn rewards on assets they are passionate about.
The Vision Behind the Festival
Haider Rafique, Chief Marketing Officer at OKX, stated that the festival is about helping people find new and innovative ways to celebrate their passions. The initiative is designed to bring the crypto and football communities together, showing newcomers the vast world of opportunities that Web3 and crypto can offer.
This event is part of OKX's broader investment in its Web3 ecosystem, including its non-custodial wallet and NFT marketplace, signaling a long-term commitment to bridging traditional sports with digital innovation.
Additional Opportunities: Mystery Boxes
From mid-November, OKX will also offer special Mystery Boxes themed around the tournament. Holders of these boxes will have additional chances to win various fan tokens like $CHZ, $ARG, $CITY, and $POR, on top of the standard reward tokens.
👉 Discover more about high-yield staking opportunities
Frequently Asked Questions
What is the total prize pool for the OKX Football Festival?
The total prize pool for all events within the OKX Football Festival is $3 million. This is split between the NFT Football Cup ($1M) and the Trading Competition (up to $2M).
Who can participate in the OKX Football Festival?
Participation is subject to the OKX Terms of Service. It is important to note that residents of certain restricted locations, including Canada, Florida, and New York, are not eligible to participate. Always check the latest terms and conditions on the OKX platform for eligibility requirements.
How does the NFT Football Cup work?
Users can mint free NFTs of their chosen national teams. As those teams win matches and advance, NFT holders split cash prizes. The prize pool grows with each minted NFT, and users can burn their NFTs after the minting period to claim their share of the rewards.
What are the APYs for the Earn Super Hatrick staking?
The staking event offers potentially high yields, with APYs reaching up to 300% for staking Manchester City's $CITY token and up to 200% for staking Portugal's $POR, Argentina's $ARG, and Flamengo's $MENGO tokens.
Is there a risk of being disqualified from the trading competition?
Yes, OKX reserves the right to disqualify users for inappropriate activities such as wash trading, creating multiple accounts, or market manipulation. The terms and conditions outline specific rules against such behaviors to ensure fair play for all participants.
What is the goal of the OKX Football Festival?
The primary goal is to merge the worlds of football and Web3, providing fans with new, engaging ways to interact with the sport they love through blockchain technology, NFTs, and cryptocurrency rewards. It aims to onboard new users into the crypto space by leveraging the global passion for football.