TERMS OF SERVICE
The purpose of these terms and conditions is to stipulate the rights and obligations of the company and users, as well as other necessary matters in relation to the use of digital art collections (hereinafter, when referring to a single collection, it is referred to as an “Individual Collection” or the name of the collection, and when the individual collections are collectively referred to, it is referred to as the “Company Collection”) existing on the blockchain network and other services incidental thereto provided by 0XES Inc. (the “Company”). Users who purchase or own a Company Collection, including the “Visible Storage NFT”, may use the Company Collection under the following terms, and are deemed to have agreed to the terms below.
1. “Company Collection” shall mean a digital art collection that is recorded on a blockchain network in the form of an NFT.
2. “Blockchain” means a type of a distributed ledger technology that consists of a growing list of records, called blocks, that are sequentially linked together using cryptography so that anyone can read, copy and store them on each computer participating in the blockchain network.
3. “Digital art” shall mean creative expression fixed in digital form using electronic technology.
4. “NFT (Non-Fungible Token)” means a blockchain-based digital asset that is a non-fungible token that exists on a blockchain network, which is (i) issued with metadata of the “digital contents”, such as images, videos, and music and of which (ii) owners are granted certain rights to the “digital contents”.
5. “Artwork” shall mean digital contents or it’s fixation in a tangible medium, which is a creative production that expresses human thoughts or emotions, such as art, graphics, images, and designs associated to the “Company Collection” owned by the user in accordance with these terms and conditions.
6. “Derivative work” means creative work produced by means of translation, arrangement, alteration, dramatization, cinematization, or other methods of an original work. However, a reproduction of the work or an alteration without substantial change is not a derivative work.
7. “Rights of Company Collection Owners” shall mean the rights to the “Company Collection,” including the rights set forth in these Terms notified by the Company to users who own the Company Collection when the Company Collection is sold to the user for the first time.
8. “Virtual asset” means electronic certificates (including all rights thereto) that have economic value and that can be traded or transferred electronically. However, items falling under at least one of the items of Article 2, No. 3 of the Act on Reporting and Using Specified Financial Transaction Information shall be excluded herefrom.
9. “Wallet” means any virtual asset wallet address owned or used by the company or users.
Terms of withdrawal of subscription
1. Withdrawal of subscription. Unless the user has exercised the rights of the Company Collection purchased by the user or the value of the Company Collection or the works has significantly decreased to such an extent that it is difficult to resell over time, the subscription for the contract may be withdrawn within 7 days from the date of purchase of the Company Collection. However, after the period for withdrawal of subscription, it is impossible to withdraw from the subscription if the customer is at fault, such as a mistake during the purchase process or change of mind.
2. Fees payable. In case of withdrawal of subscription, the user must bear all costs, including fees incurred when re-transferring the Company Collection to the company's wallet.
How to buy a Company Collection
Users can purchase a Company Collection which the company issues (mints) with virtual assets or other means by using the company's official website or an NFT exchange operated by a third party.
Rights of Company Collection Owners
1. Ownership of a Company Collection.
You will own the entire Company Collection you have purchased. The transfer of ownership of the Company Collection is made entirely through the blockchain network, and the Company may not, in any case, seize, restrict or alter any Company Collection or rights thereof owned by the user.
2. Right of Membership.
The validity of the benefits and services offered to Company Collection owners is one year from the date of initial sale of each Individual Collection. Company Collection owners are entitled to ‘exclusive access to and use of Holders Lounge and event channels for individual collections within the official Discord server operated by the company’, ‘eligibility to apply for or participate in individual collection events provided by the company from time to time.’ However, Company Collection owners must present the qualifications for owning Individual Collections according to the method set by the company when using membership, otherwise membership may be restricted.
3. A right to request an exchange for a physical product.
a. A user has the right (hereinafter referred to as the “Right to Request an Exchange”) to apply to exchange his/her Company Collection for the physical product or service notified to the user when each individual collection was first sold within the redemption request period indicated on the NFT of the individual collections. The user should apply for an exchange by the way provided by the company. However, it cannot be exchanged for an associated physical product or service after the exchange period has passed.
b. When a user requests an exchange of his/her Individual Collection for the physical product or service, the company does not pay or collect shipping charges, import duties and taxes on behalf of the user.
c. When a user exercises the right to request for exchange, the use should return the Individual Collection to the company, and the company destroys the Individual Collection.
4. Other Rights.
Owners of Company Collections are granted the right to use digital works associated with Company Collections and the rights provided for in this Article. However, the Company Collection does not mean intangible rights such as intellectual property rights or portrait rights, including copyrights and trademark rights, and owning the Company Collection does not mean acquiring rights such as copyrights for digital content associated with the Company Collection.
1. Private Use.
Providing that the user continues to comply with these Terms, the Company provides a worldwide, royalty-free, non-exclusive license to the works associated with the Company Collection the user owns for the following purposes. Users are licensed for as long as they legally own the Company Collection and can use the work for the following purposes:
a. Use without any commercial purpose within the limit of personal, family or the equivalent use.
b. Use to function as part of an exchange that allows the purchase and sale of Company Collections owned by users. Provided, users must use the only exchanges that verify the rights of each owner in an encrypted way so that only the actual owner of the Company Collection can publish the Company Collection and related works.
c. Use to function as part of a website or application of a third party that permits the inclusion or participation of the Company's collections held by you. Provided, the user must verify the rights of each owner in an encrypted way so that only the actual owner of the Company Collection can publish the Company Collection and works related works, and prohibit the work from being published if the owner of the Company Collection withdraws from the web service or application.
2. Reproduction, transmission, alteration, production and use of derivative works, and commercial use are prohibited.
The company does not allow users to reproduce, transmit, alter, produce and use derivative works or commercial use of the Company Collection owned by the user and associated “works” without prior consent.
3. Reservation of Rights to Works.
A company collection does not mean specific rights themselves such as intellectual property rights, portrait rights, and commercialization rights, including copyrights and trademarks on the work, and owning the Company Collection does not mean acquiring rights such as copyrights for digital content associated with the Company Collection.
4. Exceptional Restrictions of Use.
a. Any use of Company Collections or works (including, but not limited to, altered, derived works, etc.) related to (i) whatever may be deemed to infringe the rights of others, including hate, intolerance, violence, cruelty, or libelous remarks. (ii) drugs (regardless of prescription and over-the-counter), other drugs, death, pornography, adult or explicit sexual acts, massage parlors, prostitution, dating or escort acts, weapons or ammunition, (iii) race/nationality; insult or discrimination against an individual on the basis of /gender/religion/disability/ethnicity/sexual orientation/gender identity or age/health condition and/or political party and political orientation; (iv) impersonation of another person; infringement on other’s property including intellectual property (v) use in connection with texts, images, videos, etc. related to engaging in, promoting or encouraging illegal activities
b. Any use that interferes with the business of the Company or damages the reputation or credibility of the Company, including by creating products or services that can compete with the Company Collection
5. Intellectual Property Rights.
Aside from the rights granted above, the user is not granted any rights including intellectual property rights such as trademark rights and copyrights for marks including logos of 0XES Inc., Visible Storage NFT, and other Company Collections and related logos. Each of the above rights is expressly reserved by the Company.
6. License Term.
Any rights held by the user can be exercised only while the user legally owns the company collection. The user cannot exercise any rights under these terms of service from the time when he or she loses the exclusive right or ownership due to the sale, transfer, bestowal or any other disposition of the Company Collection.
Terms of secondary transaction
Users may freely sell or purchase a Company Collection on any NFT exchange as stipulated in these Terms of Service. However, users should only use exchanges that verify the rights of each owner in an encrypted way so that only the actual owner of the Company Collection can publish the Company Collection and related works. Secondary transactions may incur royalties of up to 10% of the transaction price, depending on the individual Company Collection.
Liability for risk
Users agree and acknowledge the following terms.
1. When a user makes a secondary transaction with the company collection, the price of the NFT may not be the same as at the time of purchase, and may be affected both positively and negatively by price fluctuations of other NFTs. The user agrees to take all risks associated with the purchase and transaction of the Company Collection. Company collections such as Visible Storage NFTs produced and distributed by the Company are not provided for investment purposes, and do not fall under securities or financial investment products under the Financial Investment Services And Capital Markets Act
2. The ownership of the company collection means ownership of NFTs associated to the work. Accordingly, no information contained on this website (or any document referred to on this website) shall be considered as advice or offer to enter into a contract for investment purposes. In addition, nothing on this website shall constitute an offer to purchase stocks, securities or other financial investment products. Due to the artistic nature of the Company Collection, the Company Collection is not registered or approved by any regulatory body of any jurisdiction. Therefore, it is the user's sole responsibility to ensure that the company collections and works purchased by the user comply with the laws and regulations of the jurisdiction in which the user resides.
3. The user assumes all risks associated with his/her use of any digital assets including but not limited to the risks associated with hardware, software (including wallet services provided by third parties, etc.) and internet connection, the risk of intrusion of malicious software, and the risk that a third party may gain unauthorized access to the information in the user's wallet.
4. NFT and blockchain technology are relatively new, and the systems and regulations for them are unclear. New regulations could impact negatively on blockchain technology, which could negatively affect the value of company collections owned by users. Users understand these and take all risks thereof.
5. The user takes all responsibility for any adverse effects caused by the interruption of the blockchain network or other problems affecting it.
6. All NFT transactions take place on the blockchain. Therefore, users are fully responsible for security and management of their personal blockchain wallet (private key, etc.), and for verification before approval of all transactions which took place on this website. The user acknowledges and agrees that it is impossible to cancel, reverse or restore any transaction relating to the Company Collection since the smart contract associated with the Company Collection runs on a blockchain network.
7. The Company Collection and all incidental services may be withheld, suspended or terminated at any time by the Company according to its circumstances. The user acknowledges and agrees to this.
Change of Terms
1. The company may change these terms of service at its discretion. If the company changes these terms of service, the company will notify by posting on the website from 7 days before the effective date to the day before the effective date along with the current terms of service by specifying the effective date of the change and the reason for the revision. However, when the company changes important terms regarding the user's rights or obligations or changes terms unfavorably to the user, the above shall be notified at least 30 days before the effective date. As these Terms of service will continue to be updated on the website, users are requested to check periodically for any changes to these terms of service
1. Users shall not engage in any of the following acts with respect to the company collection and the work associated to the company collection.
a. Acts of posting or displaying works online or offline by modifying or distorting the work
b. Commercial use of the works, such as using the work for the purpose of advertising the product or service of oneself or a third party
c. Publishing other NFTs associated to the works
d. Registering or acquiring intellectual property rights regarding the works
e. An act of abnormally changing the price of the company's collection, such as by repeatedly trading with a third party
2. If the user violates the terms above, the company may restrict or prohibit license and/or other rights of the users, which the user holds for the company collection and associated works.
1. The company shall not be responsible for not being able to provide the company collection and other services incidental thereto due to natural disasters, force majeure, or other equivalent cases beyond the control of the company.
2. The company shall not be held liable if it is unable to provide the company collection and other services incidental thereto due to reasons attributable to the user.
3. The company is not responsible for any damage caused by the user while the user uses the company's collection and other services incidental thereto.
4. The user is responsible for the reliability or accuracy of the information, data, facts, etc. posted by the user on the screen, and the company shall not be liable for any damage caused to the user or a third party due to the inaccuracy or falsehood of the content.
5. The company shall not be responsible for any damage caused to the user or a third party due to the user's intention or negligence in relation to the use of the company collection and other services incidental thereto.
Jurisdiction and Governing Law
These Terms of service (including, but not limited to, your access to and use of the Website, your use of NFTs, or products sold or distributed through the Website) shall be governed by and interpreted in accordance with the substantive laws of the Republic of Korea. Disputes arising between the company and users shall be resolved at the Seoul Central District Court as the exclusive jurisdiction.