2022 Elite Drop #1 Sweepstakes
Official Terms

1. Eligibility

The 2022 Elite Drop #1 Sweepstakes (the “Sweepstakes”) is administered by Blokpax LLC (“BLOKPAX”) and is open to United States residents age 18 and older. VOID WHERE PROHIBITED. Owners, officers, and employees of BLOKPAX or any of its affiliated companies and their immediate family (spouse, parents, siblings and children) and household members of each such owner, officer, or employee are not eligible. The Sweepstakes is subject to all applicable federal, state and local laws and regulations. Participation constitutes entrant’s full and unconditional agreement to these Official Rules and BLOKPAX’s decisions, which are final and binding in all matters related to the Sweepstakes. Winning a prize is contingent upon fulfilling all requirements set forth herein. The Sweepstakes consists of a sweepstakes contest as described in these Rules.

2. Administrator

BLOKPAX, 1320 Main Street, Suite 300, Columbia, South Carolina, 29201, is the sponsor and sole administrator of the Sweepstakes.

3. Timing

Sweepstakes entry begins on January 23, 2022 at 12:00:00 a.m. Eastern Time (“ET”) and ends on February 5, 2022, at 11:59:59 p.m. ET (the “Sweepstakes Entry Period”). All winners will be determined prior to February 15, 2022 at 11:59:00 p.m. Elite Drop #1 starts on February 6, 2022 and ends February 15, 2022. All timing for this Sweepstakes will be based on Eastern Time, and BLOKPAX’s computer is the official time-keeping device.

4. How to Enter

There are 3 possible methods of entry.

1. By Holding Infinite Moment NFTs: Entries (in the form of NFTs) will be randomly inserted into digital trading card packs awarded by BLOKPAX to holders of Infinite Moment NFTs #0 - #49. Holders will receive 1 free pack (which will contain 1 entry ) for each Infinite Moment NFT #0 – #49 held in their crypto wallets at the end of the Sweepstakes Entry Period provided that the crypto wallet is also linked to a valid Blokpax Account.
2. Via mail-in entry: An entrant may obtain entry by printing his or her name, complete address, and the address of his or her valid ERC-1155 compliant Wallet on a 3 x 5 card, manually signing the card, and mailing the card in a #10 envelope, with all required postage, to: #2022EliteDrop1 Entry, P.O. Box 61062, Columbia, South Carolina 29260. Only one card may be included in an envelope. Each card using this method must be mailed separately. Each entry properly submitted in this way will cause the deposit into the entrant’s Wallet specified on the card of one (1) randomized entry (as an NFT.) Any attempted entry using this method that does not comply completely with all requirements stated in these Rules will not be accepted into the Sweepstakes.
3. Pro-Rata Via Surplus Entries – If at least 51,492 entries are not filled using the methods noted above the remaining entries (to ensure at least 51,200 entries exist – 2,048 per Razz Prize and 292 for the Instant Win Prizes) will be allocated on a pro-rata basis to entrants who utilized method 1 or 2 above in the order in which the original entry was received. The explicit goal of this provision is to allocate the minimum number of entries needed for the promotion mechanics to function optimally and to award any excess entries fairly among all eligible entrants.

General Conditions Regarding Entering:

For those entering by holding Infinite Moment NFTs, instructions on how to link an ERC-1155 compliant Wallet to your Blokpax account are found on the Blokpax website. All entries must be transferred to a linked ERC-1155 compliant wallet prior to the first elimination as detailed below. Any entries not transferred to the entrant’s Wallet prior to the first elimination round will be automatically eliminated from contention.

Entry requires using one of the 3 methods described above. Use of any automated system to participate is prohibited and may result in disqualification. BLOKPAX is not responsible for lost, late, incomplete, invalid, unintelligible or misdirected registrations, which will be disqualified.

Potential winners may be required to provide personally-identifying information for purposes of reporting to tax or regulatory authorities. The information you provide will be used only to administer the Sweepstakes.

5. The Prizes

There are seventy-five (75) prize cards in this Sweepstakes, listed in Appendix A and B to these Rules. Each is a trading card. The value of each card is subjective and may change significantly over time, including over short periods of time such as the Sweepstakes Period. Estimating the value of these prize cards is difficult and often requires comparing them to similar but different cards.

There are also two hundred and forty two (242) prize NFTs in this sweepstakes, listed in Appendix C to these Rules. The value of each NFT is subjective and may change significantly over time, including over short periods of time such as the Sweepstakes Period. Estimating these values is difficult and often requires comparing them to similar but different NFTs.

Based on the most recent publicized transactions of which it is aware, and without representing this information either as true current value or as an approximation thereof, BLOKPAX (at the time of preparing these Rules on January 18th 2022) the estimated value of all prizes is one hundred seventy nine eight hundred and twenty nine dollars ($179,829 USD), but recognizes and cautions that the actual value may be more or less than this estimate.

6. The Odds of Winning

Fifty (50) of the prize cards (Appendix B) and the two hundred thirty nine (242) prize NFTs will be awarded randomly as “Instant Win Prize Cards” using the mechanics explained in Section 7. The odds of an Instant Win are dependent on the total number of entries.

The remaining twenty-five (25) prize cards (Appendix A) will be awarded as “Razz Win Prize Cards” using the mechanics explained in Section 8. Each entry that isn’t an instant winner is a chance to win one particular Razz Win Prize Card from Appendix A, and there will be at least 2,048 entries for each card. Thus, once in the running for a particular Razz Win Prize Card, the odds of winning that particular card are dependent on the total number of entries but will be no better than 1 in 2,048.

7. Instant Winner Selection and Prize Awards

Each entry represents chance to win a specific Instant Win Prize Card from the fifty (50) listed in Appendix B or an Instant Win Prize NFT from the two hundred and thirty nine (242) listed in Appendix C. Each entry is only eligible to win one particular prize.

Two hundred eighty nine (292) entries randomly selected by a blockchain based computer algorithm will display as an Instant Winner of a Prize Card or Prize NFT at the time the NFT entries are revealed.

The Wallet that contains, at the time of completion of Sweepstakes, an Instant Winner Entry for a Prize Card will automatically have a new NFT (a “Vault Token”) deposited to that Wallet that confers upon the holder a right of redemption for the underlying physical asset. The specific card each Instant Winner receives will be determined by a blockchain based computer algorithm that pairs each Instant Winner entry with one of the 50 Instant Win Prize Cards included in Appendix B. The Vault Token holder may redeem the Vault Token and receive delivery of the specific underlying card at any time, upon condition of the holder first providing any information required for tax or regulatory reporting, including any Social Security number required for Form 1099 or similar purposes. When the underlying physical asset has been redeemed, the Vault Token will be removed from circulation and will cease to have any rights. If the owner of the Vault Token sells, transfers, gives away, or otherwise grants ownership of the Token to a third party before the owner redeems it for the underlying physical asset, the right of redemption will pass to the third party.

The Wallet that contains, at the time of completion of Sweepstakes, an Instant Winner Entry for a Prize NFT will automatically have the Prize NFT deposited to that Wallet that confers full ownership of that NFT to the Wallet owner.

8. Razz Winner Selection and Prize Awards

Each entry that isn’t revealed as an Instant Winner represents a chance to win a specific one of the twenty-five (25) Razz Win Prize Cards from Appendix A. Each entry is only eligible to win one particular card.

Selection of the winning entry for each card will occur separately, in the following manner.

There will be (11) elimination rounds (the “Elimination Rounds”). In each Elimination Round, one-half of the entries that were still in the running before that Elimination Round (for each particular card) will be randomly eliminated by a blockchain based computer algorithm. If the total number of initial entries exceeds 2,048 for one or more Razz Win Prize Cards the first elimination round will eliminate the number of entries necessary to bring the total remaining entries to 1,024 to begin the second round for all underlying Razz Win Prize Cards.

The NFTs for eliminated entries will be deleted (also known as burned). Elimination Rounds will continue until there is only one (1) entry that has not been eliminated for each Razz Win Prize Card (the “Razz Winning Entry”).

The Elimination Rounds will occur on the following dates and at the following times, all of which are Eastern Time.

The Wallet that contains, at the time of completion of the Sweepstakes, a Razz Winning Entry will automatically have a new NFT (a “Vault Token”) deposited to that Wallet that confers upon the holder a right of redemption for the underlying physical asset (the specific card for which the Vault Token is awarded), and that holder may redeem the Vault Token and receive delivery of the specific card at any time, upon condition of the holder first providing any information required for tax or regulatory reporting, including any Social Security number required for Form 1099 or similar purposes. When the underlying physical asset has been redeemed, the Vault Token will be removed from circulation and will cease to have any rights. If the owner of the Vault Token sells, transfers, gives away, or otherwise grants ownership of the Token to a third party before the owner redeems it for the underlying physical asset, the right of redemption will pass to the third party.

In the event that any winning entry is still held by BLOKPAX, the Vault Token will be deposited into the cryptocurrency wallet that held the last entry to be eliminated in the Elimination Rounds. If there is more than one such entry eliminated in the same Elimination Round, then BLOKPAX will conduct a random drawing from among those entries to determine a winner; and the Vault Token will be deposited into the Wallet of that winner.

9. Storage/Bailment of Prize Cards

BLOKPAX will provide, without charge, storage of and insurance on the associated trading card in an amount to be determined solely by BLOKPAX (such amount to be disclosed to the Vault Token holder following the Championship Elimination Round) on the prize card associated with that Vault Token for a period of 36 months following the Championship Elimination Round. After that initial storage period, BLOKPAX may offer such services pursuant to contract between BLOKPAX and the owner of the Vault Token. The terms of any such contract offered by BLOKPAX, including pricing therefor, will be posted on http://www.blokpax.com and may be modified by BLOKPAX from time to time.

10. Notification and Verification of Winners

THE TRANSFER OF A PRIZE CARD VAULT TOKEN OR PRIZE NFT TO THE WINNER CRYPTO WALLETS IS THE PRIMARY METHOD OF NOTIFICATIPON. IT WILL BE THE SOLE RESPONSIBILITY OF EACH ENTRANT TO DETERMINE WHETHER HE OR SHE HELD THE CONTEST WINNING ENTRY AND HAS RECEIVED THE VAULT TOKEN OR PRIZE NFT.

ALL VAULT TOKEN HOLDERS SEEKING TO REDEEM AN UNDERLYING PHYSICAL CARD ARE SUBJECT TO VERIFICATION BY BLOKPAX WHOSE DECISIONS ARE FINAL AND BINDING IN ALL MATTERS RELATED TO THE SWEEPSTAKES.

11. POSSIBLE FORFEITURE OF PRIZE BY WINNER

If a Vault Token holder who has not redeemed that Token for the prize card fails to maintain a contract with BLOKPAX for storage pursuant to Section 9 above then that Vault Token will lose all rights associated with the prize card; and BLOKPAX will cause the metadata associated with that Vault Token to be modified to reflect that loss of rights. If that occurs, BLOKPAX will, within ninety (90) days of the expiration of the previous storage arrangement, make arrangements on the Vault Token owner’s behalf to sell the forfeited prize card in a public auction of BLOKPAX’s design or choosing, and, after retaining twenty percent (20%) of the auction sales proceeds for expenses, for administrative costs, and as auction commission, will deposit eighty percent (80%) of the auction sales proceeds in ETH into the cryptocurrency wallet then holding the Vault Token.

12. Tax Responsibility

The owner or owners of a Vault Token will be responsible for all taxes levied by any jurisdiction on the receipt, ownership, transfer, or profit from the Vault Token or the associated prize card; and the recipient of any alternative cash payment will be responsible for all taxes levied by any jurisdiction thereon. At any time that any jurisdiction seeks to impose tax liability on BLOKPAX with respect to an unredeemed Vault Token or prize card, BLOKPAX shall have a lien on the prize card for the full amount of any such taxes for which it is found liable; and acquisition of a sweepstakes entry or a Vault Token by any person will constitute that person’s consent to that Lien.

13. Release

By entering this Sweepstakes, entrant agrees to release and hold harmless BLOKPAX, and their respective subsidiaries, affiliates, suppliers, distributors, advertising/promotional agencies, and each of their respective parent companies and each such company’s officers, directors, employees and agents (collectively, the “Released Parties”) from and against any claim or cause of action, including, but not limited to, personal injury, death, or damage to or loss of property, arising out of participation in the Sweepstakes or receipt or use or misuse of any prize.

14. Limitations of Liability

The Released Parties are not responsible for: (1) any incorrect or inaccurate information, whether caused by entrants, printing errors or by any of the equipment or programming associated with or utilized in the Sweepstakes; (2) technical failures of any kind, including, but not limited to malfunctions, interruptions, or disconnections in phone lines or network hardware or software; (3) unauthorized human intervention in any part of the entry process or the Sweepstakes; (4) technical or human error which may occur in the administration of the Sweepstakes or the processing of entries; or (5) any injury or damage to persons or property which may be caused, directly or indirectly, in whole or in part, from entrant’s participation in the Sweepstakes or receipt or use or misuse of any prize. If for any reason an entrant’s entry is confirmed to have been erroneously deleted, lost, or otherwise destroyed or corrupted, entrant’s sole remedy is another entry in the Sweepstakes; provided, however, that if it is not possible to award another entry due to completion of the Sweepstakes or due to full depletion of the stock entries, BLOKPAX, shall, as a sole and complete remedy, refund to that entrant any amount paid by that entrant for entry into the Sweepstakes. No more than the stated number of prizes will be awarded. In the event that production, technical, seeding, programming or any other reasons cause more than stated number of prizes as set forth in these Official Rules to be available and/or claimed, BLOKPAX reserves the right to award only the stated number of prizes by a random drawing among all legitimate, unawarded, eligible prize claims.

15. Publicity

Except where prohibited, participation in the Sweepstakes constitutes each Card Contest winner’s consent to BLOKPAX’s and its agents’ use of winner’s name, likeness, photograph, voice, opinions, hometown and state in any media, worldwide, without further payment or consideration.

16. General Conditions

BLOKPAX reserves the right to cancel, suspend and/or modify the Sweepstakes, or any part of it, if any fraud, technical failures or any other factor beyond BLOKPAX’s reasonable control impairs the integrity or proper functioning of the Sweepstakes, as determined by BLOKPAX in its sole discretion. BLOKPAX reserves the right in its sole discretion to disqualify any individual it finds to be tampering with the entry process or the operation of the Sweepstakes or to be acting in violation of these Official Rules or any other Sweepstakes or in an unsportsmanlike or disruptive manner. Any attempt by any person to deliberately undermine the legitimate operation of the Sweepstakes may be a violation of criminal and civil law; and, should such an attempt be made, BLOKPAX reserves the right to seek damages from any such person to the fullest extent permitted by law. BLOKPAX’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision.

17. Dispute Resolution: Arbitration and No Class Action; Limitations of Remedies; Applicable Law

Each entrant agrees, and it is an express and essential condition of his or her entry, that:

1. NO CLASS ACTION: any and all disputes, claims and causes of action arising out of or connected with this Sweepstakes, these Rules, or any prizes awarded shall be resolved individually, without resort to any form of class action, and any such claim must be brought in the claimant’s individual capacity, and not as a plaintiff or class member in any purported class or representative proceeding;
2. Governing Law: all issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of the entrant and BLOKPAX in connection with the Sweepstakes, shall be governed by, and construed in accordance with, the laws of the State of South Carolina, without giving effect to any choice of law or conflict of law rules (whether of the State of South Carolina or any other jurisdiction), which would cause the application of the laws of any jurisdiction other than the State of South Carolina; provided, however, any issues concerning the administration of the Sweepstakes or the determination of winners shall be determined by BLOKPAX in its sole discretion, and any issues with respect to the interpretation, applicability, and enforcement of Section 20(iii) below shall be governed by the Federal Arbitration Act (9 U.S. Code § 1, et seq.) in any instance in which that Act differs from the relevant law of South Carolina;
3. ARBITRATION AS EXCLUSIVE DISPUTE RESOLUTION PROCESS: any and all disputes, claims and causes of action arising out of or connected with this Sweepstakes, or any prizes awarded, shall be resolved exclusively by arbitration under the Federal Arbitration Act and using the Commercial Arbitration Rules of the American Arbitration Association (“AAA”) using a single AAA arbitrator selected in accordance with those Commercial Arbitration Rules, with arbitration to occur in Columbia, South Carolina; and the arbitrator may not consolidate more than one person’s claims, and may not otherwise preside over any form of a representative or class proceeding; and
4. Limitation of Remedies: any and all claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering this Sweepstakes, but in no event attorneys’ fees; and under no circumstances will entrant be permitted to obtain awards for, and entrant hereby waives all rights to claim, punitive, incidental and consequential damages and any other damages, other than for actual out-of-pocket expenses, and any and all rights to have damages multiplied or otherwise increased. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATIONS OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE MAY NOT APPLY TO YOU. By participating in the Sweepstakes, you expressly waive all rights under Section 1542 of the Civil Code of California (and any similar laws), which reads as follows: “1542. CERTAIN CLAIMS NOT AFFECTED BY GENERAL RELEASE. A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

18. Entrant’s Personal Information

Information collected from entrants is subject to the BLOKPAX Privacy Policy, which is available at http://www.blokpax.com.

19. Sweepstakes Results

For Sweepstakes results and/or a copy of these Official Rules, send a hand-printed, self-addressed, stamped envelope to 2022 Elite Drop 1 Sweepstakes, c/o BLOKPAX LLC, P.O. Box 61062, Columbia, South Carolina 29260. Requests for the winners list must be received by January 1, 2023. Vermont residents may exclude return postage.

Appendix A: Razz Win Prize Cards

Appendix B: Instant Win Prize Cards

Appendix C: NFTs