No. If you get first place, you get 10 tokens, which is enough to get any PvP ladder wing of your choice. If you get 2nd and 3rd, you can either redeem the 2nd and 3rd place boxes which are the same as before, OR you can save up the tokens until you have enough for a pair of wings. This makes it so 2nd and 3rd place can eventually get wings, not only the 1st place.
Edited the first post to try to make that more clear. If anyone has more questions, feel free to ask.