Unless another agreement is duly executed in writing between the applicable parties, users who wish to create a unique blockchain-tracked, non-fungible token that serves as a digital collectible (the “Created NFT”) representing a piece of Digital Art available on Niio (the “Licensed Digital Art”), do so subject to the following terms and conditions (the “NFT Terms”). Such NFT Terms are a separate and independent agreement between the creator of the Licensed Digital Art (the “Creator”) and the user licensing the Licensed Digital Art from the Creator (the “Licensee”), and Niio is not a party to such NFT Terms, or responsible to any party in connection therewith:
- The Creator represents and warrants that it has sufficient rights, including intellectual property rights, in the Licensed Digital Art, to grant the License (as defined below) in accordance with these NFT Terms.
- The Creator hereby grants Licensee a worldwide, royalty free, non-exclusive, perpetual, sub-licensable (but only to the rightful holder of the applicable Created NFT) right and license, to use, copy, and display the Licensed Digital Art associated with the Created NFT, privately or publicly, for (i) personal, non-commercial purposes, including on social media platforms, digital galleries, or otherwise on the internet or in association with your Created NFT(s); and/or (ii) in order to trade or offer the Created NFT for sale unless otherwise explicitly limited by the Creator in the Created NFT purchase page (collectively, the “License”). This License does not grant Licensee any rights in or to the Licensed Digital Art separate from the associated Created NFT, including any of the copyrights described in Section 4 below.
- To the extent the Licensed Digital Art is on the Niio Platform, the Licensee is granted any and all rights to the Licensed Digital Art granted to Art Consumers under the Niio Terms, as if a “Sale” of Digital Art was performed under the Niio Terms.
- The Licensee acknowledges and agrees that the Creator (or, as applicable, its licensors) owns all legal right, title and interest in and to the Licensed Digital Art, and all intellectual property rights therein. The rights that Licensee has in and to the Licensed Digital Art are limited to those expressly described in the License. The Creator (or, as applicable, its licensors) reserves all other rights in and to the Licensed Digital Art, including all copyrights in and to the Licensed Digital Art.
- In any event the applicable Created NFT is sold or otherwise transferred to a third party, such third party shall be deemed the Licensee under these Terms and Conditions.
Last revised: August 8th, 2022