The rapid rise of non-homogeneous tokens (NFTS) presents unique challenges and opportunities in the area of digital ownership and intellectual property. This article delves into the detailed regulatory framework for NFT, focusing on commercial use restrictions, unauthorized adaptations, royalty obligations, and enforcement mechanisms to ensure compliance. The complex interaction between technology and the law shapes these guidelines with the aim of balancing the rights of creators with the responsibilities of buyers in an evolving digital environment.
"Agreement" means the entire content of this document.
This study uses a qualitative approach to examine selected NFT contracts and legal texts applicable to digital transactions and intellectual property. Consulting with legal experts in copyright and blockchain technology provides a broader perspective on the applicability of these provisions in practical and legal scenarios. Overall, the methodology combines document analysis with expert interviews to extract insights into enforcement and compliance mechanisms in NFT protocols.
3. Qualitative analysis
The legal provisions in NFT transactions strictly regulate the commercial exploitation of tokens and prevent unauthorized modifications. Key findings from the contracts analyzed include:
- ** Commercial Use Restrictions ** : NFT may not be used for commercial purposes without the express permission of the creator to prevent unauthorized commercial exploitation.
- ** Unauthorized adaptations ** : Modifications or creative alterations to the NFT are prohibited unless prior written consent is obtained to protect the original artistic intent.
- ** Royalty Payments ** : The contract specifies that royalties must be paid to ensure that the creator receives ongoing compensation from subsequent sales and strengthens the creator's long-term value.
"Permissible Work" shall mean the visual, literary, dramatic, artistic, and subject-matter works and content tied to the GOD'S CHILD NFT.
GOD'S CHILD reserves the right to change these Terms of Use at any time. We recommend that you periodically review these terms for any possible changes. Any changes to these Terms will take effect immediately on the date of Posting, and your continued use of the Site after the Terms have been updated will constitute your acceptance of the revised Terms. If you do not agree to the updated terms, you should immediately stop using this website.
Acknowledged and agreed upon by Pablo Stanley, August 2021.
GOD'S CHILD is a non-alternative token (NFT) family running on the Ethereum network. The main function of this website is to provide information about GOD'S CHILD and to allow users to purchase our NFT. Users are responsible for managing the security of their private Ethereum wallets and should independently verify all transactions and contracts generated on this website.
These terms are intended to clearly regulate the use of the GOD'S CHILD Website, ensure transparency of transactions and the rights of users, and ensure that users are aware of their responsibilities and limitations.
You agree that we shall not be liable under any theory of liability for any indirect, incidental, special, consequential or exemplary damages that you may suffer, however caused, including, but not limited to, intangible damages such as loss of profits, goodwill or business reputation, loss of data or procurement costs of substitute goods or services, even if we have been advised of the possibility of such damages. Our total, aggregate liability to you is limited to the amount you actually paid us under these Terms, or $500, whichever is less, in the 12 months prior to the date of the claim. You acknowledge and agree that without these restrictions, we will not be able to provide you with this Site.
You expressly understand and agree that your access to and use of the Site is at your own risk. This website is provided "as is" and "as available" without warranties of any kind, express or implied. To the fullest extent permitted by applicable law, we make no express warranties of any kind and hereby disclaim ALL implied warranties with respect to this Site and any portion thereof, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, non-infringement, correctness, accuracy or reliability. In addition, we do not warrant that your access to or use of the Site will meet your requirements, or that your access to or use of the Site will be uninterrupted, timely, safe or error-free, that the usage data provided through the Site will be accurate, that the Site or any of its content does not contain harmful ingredients, or that any information disclosed by you in using the Site will be secure.
Some jurisdictions do not allow the exclusion of implied warranties from consumer contracts, so some or all of the above exclusions may not apply to you.
Please note that the operation and maintenance of Ethereum Wallet is carried out by a third party and is not directly related to GOD'S CHILD. As a result, we have no control over or access to the contents of your wallet, nor can we recover your assets or execute transactions. All transactions made on the Ethereum network through our smart contracts are final and cannot be reversed or reversed.
You agree to indemnify and hold us, our employees, contractors, service providers and their successors, and their respective officers, directors, agents, partners and employees harmless from any claims, losses, liabilities, or expenses (including, without limitation, attorneys' fees) arising out of: (a) feedback you provide; (b) You are in breach of these Terms; (c) you violate or abuse the rights of others (including intellectual property rights or privacy rights); (d) Your improper use of the Site; (e) you violate our non-exclusive license terms; Or (f) your use of this technology or where applicable to an altered artwork. You must promptly notify us of any third party claims and assist us in defending them, and you must pay all associated costs. The indemnified party shall have sole control over the defense and settlement of any third party claim.
In the event of a persistent violation or refusal by the buyer to correct it, the Creator has the right to initiate legal proceedings under the laws of the designated jurisdiction for compensation and to resolve any disputes, which will be submitted to the designated District court for resolution. This legal framework demonstrates an important commitment to maintaining the integrity and value of digital assets.
All notices and contractual communications must be in writing, using email or other verified means of communication to ensure clarity and legal validity.
By dissecting these components, the study aims to provide a comprehensive insight into the governance and operational challenges of the NFT market, highlighting the importance of legal and contractual compliance to maintain ecosystem integrity and growth. Ultimately, this study highlights the need for dynamic legal standards that can adapt to technological advances and changes in market dynamics.
You acknowledge and accept all risks associated with the purchase and sale of our NFT. This includes the risks associated with fluctuations in the price of NFT or Ethereum, as well as all risks associated with the use of cybercurrencies (such as hardware, software, and network connection issues, and unauthorized access to your Ethereum wallet). You understand that NFT and blockchain technology are emerging fields and that their regulatory environment is constantly changing, which may have an impact on the value of your NFT licensed artwork. You agree to assume full responsibility for any disruptions or problems with the Ethereum Platform or the Ethereum Network.
The information on this website should not be construed as investment solicitation or contractual advice. The authorisation for our projects involving art is not registered with any securities regulator, so you should ensure that your purchases comply with the regulatory requirements of your location.
You are personally responsible for the installation and maintenance of all IT and telecommunications facilities required to access the GOD'S CHILD Website. You are responsible for all Internet connection charges and other related costs incurred when accessing the Website using these devices.
GOD'S CHILD reserves the right to temporarily or permanently interrupt access to the GOD'S CHILD Site or any of its services at any time for maintenance or upgrade purposes. These interruptions may occur without prior notice, and GOD'S CHILD shall not be liable for any inconvenience or loss that may be caused to you as a result of maintenance or service interruptions.
GOD'S CHILD also reserves the right to make changes, updates or improvements to the Site or services at any time, which may be based on technical, security, operational or regulatory needs. Any such changes will be intended to enhance the user experience or improve the quality of service.
The GOD'S CHILD website provides users with a variety of services, especially interactive features related to the GOD'S CHILD NFT collection and community. These services are designed to enhance your experience and range from specific features to access rights for various services. Most services designed for GOD'S CHILD NFT holders require ownership verification via a supported digital wallet based on blockchain technology. Please note that these digital wallets are provided and maintained by third parties, GOD'S CHILD has no direct control over these wallets, and their use is at your own risk. Therefore, you are responsible for the security of your digital wallet, ensuring that all security information such as passwords, mnemonics, and private keys are kept safe. If you lose access to your wallet, GOD'S CHILD will not be able to help you recover your lost NFT.
The GOD'S CHILD website may offer Tier 1 sales opportunities that allow users to purchase NFT directly from GOD'S CHILD. This may take the form of limited edition releases, free casting, or public sales. To participate in these activities, you need to connect your digital wallet to our website and meet the purchase conditions. The sale price of all NFT will be clearly communicated prior to purchase and is legally binding. Please note that completion of the transaction may incur additional processing fees, such as miner'S fees, which are set by the blockchain network and GOD's CHILD does not take any benefits. Once the purchase is confirmed, the corresponding NFT will be transferred to your wallet and all sales will be considered final and non-refundable.
Users can also resell or purchase GOD'S CHILD NFT on third-party platforms. These platforms operate independently and are not owned by GOD'S CHILD, so all your transactions and interactions on these platforms are subject to the terms and conditions of that platform. GOD'S CHILD may receive a percentage commission from the resale of the NFT, and the specific resale terms will be posted on the GOD'S CHILD website or relevant third-party platforms. When conducting an NFT resale, you should ensure that all applicable third party platform conditions are followed, including that the sale is made only by the rightful owner of the NFT and that GOD'S CHILD receives an appropriate commission from each resale.### Terms and Conditions of Service
GOD'S CHILD is committed to:- ** Professional and Honest ** : Act in an honest, fair and professional manner and communicate with the holders of GOD'S CHILD NFT in a fair and clear manner.
- ** Conflict Management ** : Prevent, identify, manage and disclose any conflicts of interest that may arise.
- ** Security and Regulations ** : Comply with applicable laws and regulations and maintain the systems and security access standards used.
- ** Holder'S interests ** : Act with the best interests of
GOD's CHILD NFT holders in mind and treat all holders fairly.
GOD'S CHILD is committed to continuously improving and perfecting its platform services to provide a safe, reliable and quality user experience.
Without the express authorization of GOD'S CHILD or pursuant to the Digital Asset Transfer Act, or without the prior written consent of GOD'S CHILD, the User shall not directly or indirectly:
- ** Use of CONTENT AND Intellectual PROPERTY ** : You may not copy, modify, transmit, transmit, or create any derivative work, or use, commercialize, or reproduce all or any part of the GOD'S CHILD Site and/or GOD'S CHILD Property, including any intellectual property rights associated with it. It is prohibited to register or attempt to register any trademark or copyright of GOD'S CHILD, or by any other means attempt to acquire additional intellectual property rights in GOD'S CHILD's property.
- When using GOD'S CHILD Website or its intellectual property, The creation, endorsement, endorsement, promotion or acquiescence of any content, material or speech that may be deemed pornographic, violent, racist, inflammatory, defamatory, indecent, offensive, harassing, hateful, abusive, discriminatory, or otherwise objectionable or inappropriate is strictly prohibited.
- ** Decompile and Reverse engineering ** : The GOD'S CHILD Site may not be decompiled, disassembled, reverse engineered, or attempt to discover or recreate any source code from the GOD'S CHILD Site or any of the ideas, algorithms, or programming behind it without permission of law.
If you plan to develop or use software that interoperates with the GOD'S CHILD Website, you should first contact GOD'S CHILD to obtain the necessary information. Where appropriate, you may be charged associated fees.
GOD'S CHILD is committed to providing uninterrupted service to its users, ensuring that users can access the GOD'S CHILD website 24 hours a day, 7 days a week. However, due to the inherent limitations of the Internet, we cannot guarantee that website access and operation will be completely free from interference. This may occur due to force majeure, failure of the user's equipment, problems with the Internet connection, or maintenance to improve the website.Users should ensure that when using the GOD'S CHILD Website and Services, they avoid any behavior that may threaten the security of the Website, including but not limited to attempting to obtain security information from other users, cracking security code, running programs that interfere with the proper operation of the Website, or uploading harmful code and software.
Please be wary of the possible emergence of malicious third parties who may attempt to sell counterfeit GOD'S CHILD NFT or pretend to be affiliated with GOD'S CHILD. If you have any questions or need confirmation, please contact GOD'S CHILD following the instructions in Section 12 at the end of this article.
GOD'S CHILD's responsibility under these terms is to use reasonable efforts and not to guarantee results. To the fullest extent permitted by applicable law, the User expressly acknowledges that the GOD'S CHILD Website and Services (including GOD'S CHILD NFT) are provided "as is." Except as expressly provided in these Terms, GOD'S CHILD does not provide any other express or implied warranties and hereby disclaims all other implied warranties.
GOD'S CHILD makes no warranties regarding the entire site, the Services, or any transactions involving GOD'S CHILD NFT and/or cryptocurrencies. This includes, but is not limited to, risks associated with GOD'S CHILD NFT, such as the risk of failure to transfer the NFT to the user due to operational error. In addition, GOD'S CHILD similarly does not provide guarantees for any technical errors that may be caused by mining attacks, cybersecurity issues, blockchain failures, etc.
You agree to hold GOD's CHILD and its affiliates harmless from any claims, liabilities, losses, damages, costs, or expenses (including reasonable attorneys' fees) that may arise from your breach of these Terms or any infringement related to your use of the GOD's CHILD Site and Services.
To the fullest extent permitted by law, GOD'S CHILD is not liable for any consequential damages that may arise as a result of a user'S access to or use of the GOD's CHILD Website and/or Services. GOD'S CHILD's main goal is to provide a high quality and safe service, but cannot guarantee that no technical issues or security breaches will occur.
Users should understand and accept all risks associated with the use of GOD'S CHILD websites and services and should protect the security of their own data and equipment. Under no circumstances will GOD'S CHILD be responsible for any disruption or damage to Internet communications caused by third party interference.
By accepting these terms, the user confirms that he has fully understood all the content set forth in these terms and undertakes to act in accordance with these specifications in order to enjoy the services provided by GOD'S CHILD.
When interacting, you are responsible for your own assessment of the risks, and GOD'S CHILD is not responsible for any adverse consequences arising from interactions with these malicious third parties. This includes, but is not limited to, property damage or data disclosure.
GOD'S CHILD offers unique crypto asset (NFT) related services that are unique and irreplaceable. Each GOD'S CHILD NFT is unique and exclusive to its owner.It is important to understand that GOD'S CHILD does not provide any digital asset services, which include, but are not limited to:
- Initial Coin Offering (ICO) related services.
- Services for hosting, holding, storing or transferring digital assets on behalf of others.
- Services for the purchase and sale of digital assets with fiat currency.
- Services for digital assets to exchange with other digital assets.
- Operate digital asset trading platform services.
- Services related to the receipt and delivery of third party orders, third party portfolio management, provision of advice, underwriting and guaranteed or unguaranteed placement.
In addition, GOD'S CHILD does not provide any form of asset intermediation services, which includes providing any form of offer in the expectation of obtaining rights to assets based on direct or indirect financial returns or similar economic effects.
You hereby acknowledge that any use of the GOD'S CHILD Website and services, including the purchase of GOD'S CHILD NFT, is limited to your personal collection, use and enjoyment. Users should refrain from any conduct or suggestion that they are using GOD'S CHILD Services or purchasing NFT for speculative, investment purposes, for use as a substitute for currency or medium of exchange, or for resale or redistribution. At the same time, users should understand that access to or use of GOD'S CHILD NFT should not be viewed as an opportunity for financial gain or investment.
GOD'S CHILD hereby disclaims any warranties or commitments of any kind regarding the future value or resale price of any GOD'S CHILD NFT.
It is your responsibility to understand and comply with all applicable laws and tax regulations relating to NFT and cryptocurrencies. Please note that changes in laws and regulations may affect your rights and obligations related to your use of GOD'S CHILD Services and your GOD'S CHILD NFT.
GOD'S CHILD website is only available to users who are 18 years of age or older. When you access and use the GOD'S CHILD Website, you acknowledge that you are at least 18 years of age and that you have read, understood and agree to accept these Terms of Use unconditionally. If you are under the age of eighteen, you must use the Site under the supervision of a parent or legal guardian, and your parent or legal guardian must agree to abide by these terms and be responsible for your actions in using the Site.
If you do not fully agree to these Terms and Conditions of Use, you should not use the GOD'S CHILD Website. When you choose to use any of the services of the GOD'S CHILD Website, you accept these comprehensive Terms and conditions. If you do not agree to these Terms, you must immediately stop accessing and using the website and all services provided by GOD'S CHILD.
These terms are designed to protect the security and integrity of the Website and its users, and to ensure that all interactions comply with legal and ethical standards. By following these conditions, users are able to enjoy the services offered by GOD'S CHILD in a responsible and legally permissible manner.
- ** Updates and changes ** :GOD'S CHILD reserves the right to update and revise these terms at any time. These changes may be based on updates required by law, updates to website features, or other circumstances deemed necessary by GOD'S CHILD. The revised terms will take effect immediately upon Posting on the website.
In the event that any of these terms are updated, your continued use of the GOD'S CHILD Website constitutes your acceptance of the revised Terms. If you do not agree to the new terms, you should immediately stop using the website and the services provided by GOD'S CHILD.
If the User violates these Terms, GOD'S CHILD reserves the right to temporarily or permanently restrict, suspend or terminate the User'S access without compensation or refund, and this action will not affect GOD's CHILD's right to take any other legal action. GOD'S CHILD will notify the user of the decision to suspend or restrict their rights and may, at its own discretion, decide whether to restore the user's access.
The GOD'S CHILD website may contain hypertext links to third party websites and/or applications. GOD'S CHILD is not responsible for any third party hypertext links and the content accessed through these links. GOD'S CHILD neither controls nor monitors the content of third parties. Therefore, GOD'S CHILD is not liable under any circumstances for any content posted by third parties. Users should carefully review the terms and conditions of third party websites and applications.
If any content posted on the GOD'S CHILD Site violates these Terms or violates other applicable laws and regulations, in particular content deemed to be manifestly illegal, any user has the right to report such violation by contacting GOD'S CHILD as set forth below.
GOD'S CHILD may assign all or part of its rights and obligations under these Terms to any related entity, subsidiary or third party, including, without limitation, in the event of a merger, separation, transfer of some assets or disposition of all or part of the business. Users may not assign any of their rights or obligations under these Terms without the express written consent of GOD'S CHILD.
If any one or more of these Terms is found to be unenforceable, that term will be deleted from the relevant documents, but the remainder of these Terms will remain in force and effect. An invalid clause shall be replaced by a clause that is closest in meaning and scope to the original clause.
In accordance with applicable law, the information exchanged between the User and GOD'S CHILD in electronic format shall be considered a valid means of communication and shall have the same legal effect as in paper format.
This document provides a comprehensive framework for managing NFT-related violations and ensuring that creators' rights are strictly protected and respected.
In the event of a violation, the creator has the right to immediately issue a notice requiring the buyer to stop all related violations and make the necessary corrections within 7 days of the notice being issued.
The buyer shall pay compensation for all losses caused by the violation, with a minimum amount equal to twice the direct economic loss caused by the violation. Such compensation shall be paid within 30 days. In addition, if the copyright fee is insufficient, the buyer must immediately make up the amount and pay an additional 10% penalty.
In the case of repeated violations or serious violations, the Creator has the right to revoke the use of the NFT and blacklist the buyer from future purchases or participation in related NFT transactions.
For illegal use, the creator will be held legally responsible. The creator may Sue to stop the violation and receive compensation accordingly. All related legal fees and expenses will be borne by the offending buyer.
The terms of this contract are legally binding on the Buyer. Once a violation is confirmed, the buyer will unconditionally accept all consequences and penalties. The Creator reserves the right to amend and update the Consequences of violation Terms as the law changes or is actually required, and to notify all NFT holders of such changes.
These measures aim to maintain justice and order in the NFT market and ensure that the intellectual property rights of creators are properly protected and respected.
When the creator becomes aware of the buyer's illegal use, he has the right to immediately issue a cease and desist notice. This notice requires the buyer to immediately terminate all non-compliant activities.- Upon receipt of the notice, the Buyer must completely stop the violation and rectify it within a specified period of time (e.g. 7 days).
- The Buyer shall take immediate action to correct all violations that have occurred.
- Upon receipt of the notice of cessation of use, the Buyer shall, within a specified time (e.g., within 14 days), demonstrate to the Creator the corrections made and provide proof thereof.
- The Buyer shall pay compensation for the loss caused by the breach, an amount equal to at least twice the economic loss.
- The Buyer shall pay the compensation within a specified time (e.g., 30 days) after the violation has been identified.
- If the Buyer's violation involves not paying the royalties in full, the royalties payable shall be paid immediately and an additional 10% penalty shall be paid.
- In case of serious or repeated violations by the buyer, the Creator has the right to revoke the use of its NFT.
- Once the right of use is revoked, the buyer loses the right to use or display the NFT work.
- The buyer will be blacklisted for future purchases or participation in relevant NFT activities.
- For illegal use, the creator has the right to bring legal action to seek compensation and to have the violation stopped.
- This agreement is governed by the laws of the specified country and will refer disputes to the specified district court for resolution.
- If legal proceedings are initiated, all relevant legal fees and expenses will be borne by the offending party Buyer.
- All terms of the contract are binding on the Buyer, and upon confirmation of violation, the Buyer shall unconditionally assume all consequences and penalties.
- The Creator reserves the right to amend and update the provisions dealing with the consequences of violations as required by legal changes and actual circumstances, and to notify the owner of the amendment
