Terms of license.
As an NFT owner, you have the right to copy, display, remix, and do other creative things with your NFT image, with minimal restrictions. Under this license, you can incorporate your NFT image into physical objects, clothing, or even board games. Let us know if you do! We’d love to hear about what you are building!
The license does not give you ownership of the underlying art, brand, or other intellectual property associated with project/publisher organization. Also, while your license is broad and subject to few limitations, you cannot use your NFT image for economic activity that generates more than $50,000 in gross revenue per 12 months. If you want to engage in this sort of activity, we’re all ears, but please contact us about a commercial license. Finally, you are not allowed to do bad things with your NFT -- illegal, racist, sexist, or homophobic stuff, for example.
The General NFT License below is a legally binding agreement between you and us, so please review this document carefully before deciding whether to acquire a Pop Art Cat NFT, a Pop Art Specials NFT or a Pop Art Wonders NFT.
Pop Art Cats, Pop Art Specials, Pop Art Wonders NFT License
**This General NFT License (the “License”) states the terms and conditions governing each NFT that is offered, sold, or transferred to any person (which may be an individual or an entity). If you sell, purchase, transfer, or acquire an NFT, you agree to be bound by the terms of this License.**
“Art” means any art, design, drawing, fictional character, illustration, image, vector, video, 3D asset, template asset, or other pictorial or graphic work associated with the NFT.
“Economic Activity” means any activity engaged in to obtain income, regardless of whether or not the activity is aimed at making a profit.
“NFT” means the NFT created or issued on the project/publisher web site (“we” or “us”) or minted directly via smart contract that is linked via metadata with specific Art, including but not limited to a specific visual character.
“NFT” means an Ethereum-based non-fungible token complying with the ERC-721 standard, ERC-1155 standard, or other similar non-fungible token standard.
1. Intellectual Property Ownership
1. You own an NFT if your ownership of the NFT is cryptographically verified on the Ethereum blockchain. As an NFT owner, you own the non-fungible token—i.e., the digital token recorded on the blockchain—but you do not own the Art associated with the token.
2. You acknowledge and agree that we own all legal right, title, and interest in and to all elements of the Art. You acknowledge that the Art is protected by, as applicable, copyright, patent, or trademark laws or other relevant intellectual property and proprietary rights.
3. You do not have a right to use any trademarks or logos owned by us.
2. Your License
1. If you own an NFT, then we grant you a personal, non-sublicensable, non-exclusive, license to use, copy, display, modify, and create derivative works from the specific art associated with the NFT which you own, subject to the limitation described in Section 2.4 below.
2. You may exercise your commercial license for economic activity that generates up to $50,000 in gross revenue per 12 months, subject to the usage limitations described in Section 2.4 below.
3. **Transferring Your NFT.** You may sell or transfer your NFT, and upon such sale or transfer, your entire license to the Art and any associated rights will transfer to the new owner. The new owner will enjoy the license and any associated rights described in Section 3 above, provided that the new owner’s ownership of the NFT is cryptographically verifiable on the Ethereum blockchain.
4. **Restrictions.** You agree to not use the Art in any way that is unlawful, pornographic, defamatory, abusive, harassing, obscene, libelous, harmful to minors, racist, sexist, homophobic, hate speech, gender discrimination, violence, depicting the use of drugs or cigarettes or otherwise objectionable to any persons under the age of 18.
You shall indemnify and defend Matt Chessco Enterprises, Inc. against any claims, damages, proceedings, loss or costs arising from such use. User shall not use the Pop Art Cats, Pop Art Specials or Pop Art Wonders Licensed Materials in any way that could be construed as being adverse or derogatory to the image of Pop Art Cats, Pop Art Specials, Pop Art Wonders, Matt Chessco or any of its subjects featured in the NFTs.
3. Digital Collectible Not A Security
THE DIGITAL COLLECTIBLE IS INTENDED FOR CONSUMER ENJOYMENT, USE AND CONSUMPTION ONLY. IT IS NOT A “SECURITY,” AS DEFINED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY U.S. STATE.