Terms and Conditions for the Purchase of a Koala Day NFT
These terms and conditions (the “Agreement”) govern your purchase of a non-fungible token (“NFT”) from the seller (“Seller”). By purchasing the NFT, you (“Buyer”) agree to be bound by this Agreement.
- Ownership and IP Rights:
a. Upon full and timely payment of the purchase price, Seller transfers full ownership rights of the NFT to Buyer.
b. Buyer acknowledges and agrees that the NFT is a unique digital item, and the purchase of the NFT grants Buyer exclusive and perpetual intellectual property (IP) rights to the digital content associated with the NFT, without requiring any further permission or consent from the Seller.
c. Buyer retains the right to use, display, modify, reproduce, distribute, create derivative works, and sublicense the NFT’s digital content, subject to any applicable laws.
- No Intended Financial Gain:
a. Buyer acknowledges and agrees that the purchase of the NFT is not intended for financial gain. The NFT is acquired solely for personal enjoyment and does not represent an investment or financial instrument.
b. Buyer understands that the value of the NFT may fluctuate, and Seller makes no representations or guarantees regarding the future value or financial performance of the NFT.
- License Limitations:
a. Buyer may not use the NFT in any manner that violates applicable laws or infringes upon any third-party intellectual property rights.
b. Buyer may not use the NFT for any illegal, harmful, or malicious purposes, including but not limited to engaging in fraudulent activities, spreading hate speech, or promoting illegal content.
- Licensing Agreement or Deal:
a. If Seller is interested in using the NFT from Buyer for products or services, both parties may engage in a separate licensing agreement or licensing deal. The terms, conditions, and compensation related to such a licensing arrangement will be negotiated and agreed upon in good faith between Buyer and Seller.
b. Any licensing agreement or deal entered into between Buyer and Seller shall be separate from this Agreement and shall not modify or alter the ownership rights granted to Buyer as outlined in Section 1 of this Agreement.
- Consideration and Payment:
a. The purchase price of the NFT shall be as specified by the Seller.
b. Buyer shall make full payment of the purchase price in the currency specified by the Seller within the timeframe specified during the purchase process.
c. Failure to make timely and full payment may result in the cancellation of the purchase, and Seller may retain the NFT and offer it for sale to another buyer.
- Disclaimers and Limitations of Liability:
a. The NFT is provided on an “as-is” basis without any warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement.
b. Buyer acknowledges that the digital nature of the NFT carries inherent risks, including but not limited to technical issues, potential loss of data, or cyber-attacks. Seller shall not be liable for any damages, losses, or costs arising from such risks.
c. In no event shall Seller be liable for any direct, indirect, incidental, consequential, or punitive damages arising out of or in connection with the purchase, ownership, or use of the NFT.
- Governing Law and Jurisdiction:
a. This Agreement shall be governed by and construed in accordance with Canadian Law. Any disputes arising under or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of Canada.
- Entire Agreement:
This Agreement constitutes the entire agreement between Buyer and Seller concerning the purchase and ownership of the NFT and supersedes any prior understandings or agreements, whether oral or written.
By purchasing the NFT, Buyer acknowledges that they have read, understood, and agreed to be bound by all the terms.