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Terms and Conditions

Ownership Purchase Agreement

When the Buyer purchases or otherwise accepts ownership of the NFT, they acquire all rights, title, and interest regarding the NFT. These rights include being able to transfer, sell, assign, donate, or otherwise dispose of the NFT, according to the terms of this Agreement.
However, it does not grant the Buyer the rights, title, or interest in the Artwork, audiovisual works, music, images, or other NFT content.

 

Reserved Rights of the Seller

The Seller reserves specific rights regarding the NFT even after the purchase and ownership has been transferred to the Buyer. These rights include:
  1. Rights, titles, and interests regarding the NFT artwork, whether these rights, titles, and interests are located in the United States of America or foreign countries.
  2. Including but not limited to US and foreign trademarks, trade dress and names, service marks, domain names, logos, copyrights, moral/industrial design/publicity/proprietary rights, computer programs, registrations, and applications regarding the NFT, which this Agreement collectively refers to as the “Seller IP.”
  3. The Seller retains sole and exclusive rights to the Seller IP. If the Buyer nevertheless obtains rights in the Seller IP, whether through operations of law or otherwise, then the Buyer hereby irrevocably assigns such rights to the Seller.

 

NFT Purchase Price and Fees

As the initial purchaser of the NFT, the Buyer agrees to purchase and pay for the NFT following the marketplace terms and conditions on which the Seller lists the NFT. Resale Royalties and any transaction fees will be directly deducted from your crypto wallet or another authorized and legal payment method the marketplace lists.
Further, the Buyer is responsible for any sales, taxes, use, GST, value-added, assessments, and duties now or after the purchase imposed or claimed by a governmental, administrative, or regulatory authority regarding the NFT.

 

Termination Rights

If the Buyer decides to sell, donate, transfer, or otherwise assign ownership of this NFT to another party, all terms regarding this Agreement will no longer apply to the initial Buyer and instead transfer to the new Buyer along with the ownership of the NFT.
However, the initial Buyer or subsequent owner must provide the new owner with sufficient Notice of this Agreement before the NFT sale, donation, transfer, or assignment. The new owners will take the position of Buyer in this Agreement and will be held to all the terms and conditions herein. Further, a (Percentage)% of the gross purchase price of this transfer, sale, donation, or assign, if any, will be paid to the Seller through the use of smart contracts (“Resale Royalties”).

 

Assumption of Risks

The Buyer understands that the NFT is a crypto asset, which can rapidly fluctuate in value, demand, regulation, and other variables. The Buyer understands and accepts that these variables might arise in irreversible losses or be recorded on the public blockchain ledger later than when the transaction occurred.
​As the Seller has no control over the execution of the purchase, any fees, or reversal of the transaction when using a third-party marketplace, the Seller is not liable to the Buyer or any other third parties for damages or other claims arising from the purchase.
The Buyer also acknowledges the risk of internet-based assets and that malfunctioning hardware, software, and internet connections can lead to a loss of the NFT. The Buyer will not hold responsible the Seller for any loss of the NFT due to disruptors, hardware failures, hackings, errors, communication failure, inaccuracies, or other delays the Buyer experiences while completing the transaction.
Furthermore, as digital assets, NFTs are subject to developing regulations, statutes, treaties, rules, and other laws (“Laws”) in the US and globally. Any update, change, or adjustment of these Laws may affect this Agreement. Should these Laws cause any part of this Agreement to become unenforceable or illegal, then the Seller is not deemed to be in breach of this Agreement and has the right to terminate the Agreement instead.
The NFT is not deemed or intended to be a security under any law, and the Buyer understands that the price and liquidity of this digital asset will fluctuate and even disappear as the market for this NFT does.

 

Disclaimers

The NFT, Artwork, and any experiences are provided on an “as available” basis “as is” without any warranty. The Seller expressly disclaims any warranties under the maximum extent permitted by law. The Seller makes no warranty or representation concerning the truthfulness, accuracy, quality, completeness, reliability, or timeliness of the Artwork or any information displayed in conjunction with the NFT.
The Buyer will not hold liable the Seller for any claims or losses that arise out of software failure, abnormal computer programming, smart contracts, crypto wallets, media servers, blockchain, smart nodes, forgotten passwords or information, hacking attempts, malware, viruses, harmful computer code, third-party marketplaces, or other distributed ledger technology associated with the NFT.
The NFT is a digital asset and only exists because its code and ownership record are being maintained in the applicable blockchain network or ledger. As such, any sale, transfer, donation, or assignation occurs on a public blockchain’s distributed ledger, over which the Seller has no control or liability. The Buyer will be fully responsible for verifying the authenticity, identity, and legitimacy of the assets they purchase.

 

Indemnification

While not limiting any other terms or provisions of this Agreement, the Buyer agrees to hold harmless the Seller, its parents, assigns, heirs, associates, employees, agents, successors, directors, managers, officers, and representatives (“Seller Parties”) from and against all claims, demands, allegations, suits, actions, or other proceedings (“Claims”).
The Buyer further agrees to hold harmless the Seller and its Seller Parties from any penalties, fees, orders, fines, awards, expenses, settlements, costs, judgments, liabilities, damages, or other losses, which include but are not limited to attorney fees (“Losses”), resulting out of the purchase, transfer, ownership, sale, donation, assignment, or other transfer of the NFT.

However, the above indemnity regarding Claims and Losses does not apply when they arise solely from the unlawful actions of the Seller, including willful misconduct, fraud, or gross negligence. In no event shall the total amount of damages for which the Seller is liable from claims arising out of this Agreement exceed $(Amount).