INTRODUCTION
Welcome to Clubmixed NFT Collection, a platform operated by Recognition Media Limited ('Clubmixed', 'we', 'us', or 'our'). These Terms and Conditions ('Terms') govern your access to and use of our NFT marketplace, where users can purchase, own, and trade exclusive DJ mix albums in the form of Non-Fungible Tokens (NFTs). By accessing or using nft.clubmixed.com ('the Site'), you agree to be bound by these Terms. If you do not agree with these Terms, you must not use the Site.
DEFINITIONS
- "NFT": A unique digital asset representing ownership of a DJ mix album recorded on the blockchain.
- "Buyer":A user who purchases an NFT on the Site.
- "Seller": A user who lists an NFT for sale on the Site.
- "Royalty": A percentage of the net income generated from the sale or resale of an NFT, distributed to specific stakeholders.
OWNERSHIP AND USAGE RIGHTS
- Exclusive Ownership: When you purchase an NFT on nft.clubmixed.com, you gain exclusive ownership of that digital asset. Each NFT represents a unique copy of a DJ mix album, which is verifiable and recorded on the blockchain.
- Rights Granted: As the owner of an NFT, you have the right to download, play, and enjoy the DJ mix album in both audio and video formats. Ownership does not include the right to reproduce, distribute, publicly perform, or create derivative works based on the NFT mix album, unless explicitly stated otherwise.
- Prohibited Uses: Unauthorized commercialization or distribution of the NFT mix album is strictly prohibited and may result in legal action and the revocation of ownership rights.
ROYALTY DISTRIBUTION
- Distribution of Royalties: Royalties from the sale and resale of NFT mix albums are distributed as follows:
- 25% to the DJ
- 25% to the music rights holders (including composers and producers)
- 50% to metaverse distribution and Digital Service Providers (DSPs) of net income
- Automatic Payments: The smart contract governing the NFT will automatically distribute royalties to the respective stakeholders whenever a sale or resale occurs.
TRANSACTIONS
- Purchase and Sale: Buyers can purchase NFTs listed on the Site using supported cryptocurrencies. Sellers can list their NFTs for sale on the Site, subject to these Terms.
- Transaction Fees:All transactions involving the purchase, sale, or transfer of NFTs are subject to a transaction fee, which will be automatically deducted.
- Finality of Transactions: All NFT sales are final. Once a transaction is completed, no refunds will be provided.
RESALE AND TRANSFER
- Resale Rights: Owners of NFTs may resell or transfer their NFTs through the approved platforms and methods provided by nft.clubmixed.com. Upon resale or transfer, the new owner will inherit the same rights and obligations associated with the NFT.
- Transfer Fees: Resale or transfer of NFTs will incur a transfer fee, which will be deducted automatically.
DISCLAIMER AND LIABILITY
- No Guarantee of Value: Recognition Media Limited does not guarantee any future value or appreciation of the NFTs. The value of NFTs can fluctuate based on market demand and other factors.
- No Warranty: The Site and NFTs are provided "as is" and "as available" without warranties of any kind, either express or implied. We do not warrant that the Site or NFTs will be uninterrupted or error-free.
- Limitation of Liability: To the fullest extent permitted by law, Recognition Media Limited shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from:
- your use or inability to use the Site
- any unauthorized access to or use of our servers and/or any personal information stored therein
- any interruption or cessation of transmission to or from the Site.
PRIVACY POLICY
By using the Site, you consent to the collection, use, and disclosure of your personal information in accordance with our Privacy Policy, which is incorporated into these Terms by reference.
CHANGES TO THE TERMS
We may modify these Terms from time to time. Any changes will be effective immediately upon posting on the Site. Your continued use of the Site after any modifications indicates your acceptance of the new Terms.
GOVERNING LAW
These Terms and any disputes related to them or the Site will be governed by and construed in accordance with the laws of England and Wales. Any disputes will be resolved exclusively in the courts of England and Wales.
CONTACT INFORMATION
If you have any questions about these Terms, please contact us at [email protected].