Terms of Services
Last Updated on Tuesday, June 27, 2023

Principle -  If you buy a NFT, the blockchain will identify your public blockchain address as the owner of the NFT and you will receive a limited license to the corresponding artwork as described in these hereinafter. But other than that license, you do not have any rights in the Artwork, all of which rights remain with and are reserved by the Artist (which he/she acknowledge and agree).

Licence - Subject to and conditioned upon your compliance with these T&Cs, for as long as you own a NFT, the Artist grant you a limited, personal, non-exclusive, non-sublicensable, non-assignable (except pursuant to your transfer of the NFT), worldwide license to display and perform the corresponding Artwork uniquely identified by the NFT, solely and exclusively for personal, non-commercial use. The Artist grant you no other rights, whether express or implied, with respect to any Digital Item (in whole or in part), all of which the Artist reserve. In particular, you receive no rights under any patent, trademark, trade secret or other intellectual property or proprietary right. This is true even if your exercise of any rights granted herein would be prevented, frustrated or impaired without such a license.

Restrictions - You may not modify or prepare any derivative work based upon any Digital Item, or commercialize any Digital Item, in whole or in part, or anything including or embodying it. Your license doesn’t permit you to, and you won’t, and you won’t authorize, permit or assist any third party to:

• exercise any of the rights granted herein in any way that results in direct or indirect compensation, financial benefit or commercial gain of any kind to you or any third party;

• delete, remove or obscure any trademark notice, copyright notice or other proprietary rights notice on or in any Digital Item;

• register or attempt to register any trademark or copyright or otherwise acquire intellectual property rights in or to any Artwork;

• exercise any of the rights granted herein to create, endorse, support, promote or condone any content, material or speech that is defamatory, obscene, pornographic, indecent, abusive, offensive, harassing, violent, hateful, racist, discriminatory, inflammatory or otherwise objectionable or inappropriate as we determine in our sole discretion;

• use any Digital Item, in whole or in part, except as expressly authorized in these Collector Terms, or exercise any of the rights granted herein in any manner that violates applicable laws or regulations; or

• use any Digital Item, in whole or in part, in connection with any product, service, business, lobbying effort, political campaign, or message, or in any manner that could suggest or imply our sponsorship, affiliation or endorsement of any product, service, business, lobbying effort, political campaign, or message, or in any manner that is likely to cause confusion or dilute, blur or tarnish our rights in the Digital Item. Any use of a Digital Item, including any goodwill generated by such use, will inure to our benefit.

Other Prohibitions - You won’t (a) create, offer for sale, or sell fractionalized interests in any Digital Item, (b) separate, unlink, or decouple any Artwork from the corresponding NFT, or (c) use any Digital Item to create, offer for sale, advertise, promote, or sell anything, including any other nft.

Transferring Digital Items - Unless you are otherwise prohibited from doing so, you may transfer a NFT together with the license to its corresponding Artwork to a third party, provided that:

• before making the transfer, you provide written notice to the intended transferee (i) of these T&Cs and (ii) that their exercise of rights in the Digital Item are and will remain subject to and conditioned upon these T&Cs (which notice may be provided in the sales listing for the Digital Item);

• you make the transfer on a platform that (i) verifies that the blockchain identifies your public blockchain address as the owner of the corresponding NFT and (ii) conforms to the highest industry standards and customs regarding royalty collection and payment;

• the transfer complies with applicable laws and regulations, and with the terms of the platform on which you effect the transfer; and

• you pay (or cause to be paid) the applicable royalty in accordance with Section f below.

Royalties - When you transfer any Digital Item, you shall pay the Artist (or cause to be paid to the Artist) a royalty equal to the amount paid by the transferee (without deductions of any kind) multiplied by a percentage depending on the marketplace used. The platform on which you make the transfer may automatically collect and pay the Artist the royalty, which payment would fulfill your obligation to pay the applicable royalty. You shall pay all fees (e.g., “gas,” platform fees) and taxes (other than taxes on our net income) associated with the transfer and won’t deduct any such amounts from the applicable royalty.

Physical Item - Art/Chain Lab seeks to champion a "phygital" approach to art. Hence, it is proposed that the Buyer who prevails in an auction for a NFT may, as a courtesy from the Artist, receive the corresponding artwork in its physical form or a high-quality signed copy (the "Physical Item"). In this context, it should be underscored that the transaction pertaining to the Physical Item transpires solely between the Buyer on the primary market (the “1st Buyer”) and the Artist and is exclusively their responsibility. The home delivery of the Physical Item should be perceived as an expression of the Artist's gratitude towards the 1st Buyer and a means of fostering a connection between them. In addition to any disclaimer stipulated in the present T&Cs, Art/Chain Lab disclaims all liability, charges, expenses, or any cost whatsoever related to the transaction involving the Phygital Item. The 1st Buyer is also cautioned that based on the jurisdiction in which they are situated, customs duties and taxes may be applicable on the dispatch of the Phygital Item. Such costs are solely their responsibility. The limited license hereunder apply to the Physical Item.