"NFT" means any non-fungible token with blockchain tracking, such as those compliant with the ERC-721 standard. "Owned" means, with respect to an NFT, an NFT that you have legitimately purchased or acquired from a legitimate source, where proof of such purchase is recorded on the relevant blockchain. "Purchased NFT" means an NFT owned by you. "Third Party Intellectual Property" means any third party patents (including, without limitation, patent applications and disclosures), copyrights, trade secrets, trademarks, know-how or any other intellectual property rights recognized in any country or jurisdiction in the world.
You acknowledge and agree that the Creator (or, as applicable, its licensors) owns all of your moral and proprietary rights, title and legal interest in and to the NFT, and all intellectual property rights therein. Your rights in the NFT are limited to those described in this License. The Creator reserves all rights in the NFT that are not expressly granted to you in this License.
A. Personal Use. Subject to your continued compliance with the terms of this License, Creator grants you a worldwide, non-exclusive, non-transferable, royalty-free license to view, download and display your purchased NFTs solely for the following purposes: (i) for your own personal, non-commercial use; (ii) as part of a marketplace that permits the purchase and sale of your NFTs, provided that the marketplace cryptographically verifies each NFT owner's rights to display your purchased NFTs to ensure that only the actual owner may display them; or (iii) as part of a third party website or application that permits the inclusion or participation of your NFTs.
B. Commercial Use. Commercial use, other than for your own auction or sale of the NFTs, is not permitted.
You agree that you may not permit any third party to do or attempt to do any of the foregoing without the express prior written consent of the Creator in each case: (i) modify your purchased NFTs in any way, including, without limitation, the shapes, designs, drawings, attributes or color schemes; (ii) use your purchased NFTs to advertise, market or sell any third party products or services; (iii) use your purchased NFTs in connection with images, videos or other forms of media depicting hate, bigotry, violence, cruelty or anything else that may reasonably constitute hate speech or infringe the rights of others; (iv) use your purchased NFTs in films, videos or any other form of media, except to the limited extent such use is expressly permitted in Section 3. B above or solely for your personal, non-commercial use; (v) sell, distribute for commercial gain (including, without limitation, give away in the hope of eventual commercial gain), or otherwise market merchandise that includes, contains or consists of your Purchased NFTs, except as expressly permitted in Section 3.B above; (vi) attempt to register trademarks, copyrights or acquire additional intellectual property rights in your Purchased NFTs; or (vii) use your Purchased NFTs for your commercial benefit or that of a third party.
To the extent that your purchased NFTs contain Third Party Intellectual Property (e.g., intellectual property licensed from a celebrity, athlete or other public figure), you understand and agree as follows: (w) that you will not have the right to use such Third Party Intellectual Property in any manner, except as incorporated into the NFT, and subject to the license and restrictions contained herein; (x) that the Commercial Use license in Section 3. B above shall not apply; (y) that, depending on the nature of the license granted by the owner of the Third Party Intellectual Property, the Creator may be required to pass additional restrictions on your ability to use the NFT; and (z) to the extent the Creator notifies you of such additional restrictions in writing (email is permitted), you shall be responsible for complying with all such restrictions as of the date you receive notice, and such failure shall be deemed a breach of this License. The restrictions in this Section 4 shall survive the expiration or termination of this License.
5. License Terms.
The license granted in Section 3 above applies only to the extent that you continue to own the applicable purchased NFT. If at any time you sell, trade, donate, give away, transfer or otherwise dispose of your purchased NFT for any reason, the license granted in Section 3 above will immediately expire with respect to such NFT without the requirement of notice, and you will have no further rights to the NFT. If you sell the NFT the Platform will retain 10% as a sales commission.
This License shall have a term of 5 years from the date of creation of the NFT, which shall be automatically renewed for equal periods, unless otherwise notified by the Creator 15 business days prior to the termination date.
Jurisdiction and Applicable Law.
For all matters related to the interpretation, compliance and execution of this License, the parties submit to the jurisdiction and competence of the courts of Madrid (Spain), expressly waiving any other jurisdiction that may correspond to them by reason of their present or future domiciles.