As an African Beauty NFT owner, you have the right to engage in various creative activities, such as copying, displaying, and remixing the character linked to your NFT. It’s important to note that acquiring an NFT does not grant ownership of the underlying art, brand, or other intellectual property belonging to the project/publisher organization.
The following General NFT License is a legally binding agreement between you and African Beauty, so it’s crucial that you carefully review it before making a decision to purchase our NFT. If you have any concerns or questions, please don’t hesitate to reach out to us.
These Terms of Sale for a user (referred to as “You”, “Your”, or “User”) are crucial for understanding your legal rights, responsibilities, and remedies. By using the platform at www.africanbeauty.art (referred to as “Website” or “platform”), you agree to be bound by this agreement. The platform offers a collection of digital artworks (NFTs) that operate on the Ethereum network. The Website is just a means for participants to exchange digital collectibles. If any part of these Terms of Service or any future changes does not meet your approval, please refrain from using the Website, connecting your Ethereum wallet to the platform, and purchasing or minting African Beauty NFTs. Your continued use of the Website after any changes to the Terms of Service implies your acceptance and agreement to these changes.
“Art” refers to any type of artistic work such as design, drawing, illustration, image, video, 3D asset, or template that is linked to an NFT you own.
“NFT” is defined as a unique, blockchain-tracked token, such as those conforming to the ERC-721 standard, created or issued on the website of the project/publisher, or minted directly through a smart contract and linked to specific art through metadata.
“Own” indicates possession of an NFT that was legally purchased or acquired, and the proof of purchase is recorded on the relevant blockchain.
“Economic Activity” encompasses any actions taken to earn income, regardless of the intent to make a profit.
“Extensions” refer to third-party designs that can be added as overlays to the art, do not alter the original art, and can be removed at any time without affecting it.
“Purchased NFT” means an NFT that you own.
“Third Party IP” encompasses any intellectual property rights such as patents, copyrights, trademarks, or trade secrets belonging to a third party, recognized in any country or jurisdiction worldwide.
“Royalty” refers to the fee payable by the NFT owner to African Beauty for each sale made on a secondary marketplace, with proof of purchase recorded on the relevant blockchain.
By accepting these terms, you acknowledge and agree that African Beauty holds all legal rights, title, and interests in the Art and all intellectual property rights associated with it. The rights granted to you in relation to the Art are limited to those outlined in this license agreement. African Beauty retains all other rights in and to the Art not explicitly granted to you in this License.
a. Personal/General Use: African Beauty grants you a worldwide, non-transferable, royalty-free license to use, copy, and display the Art for your Purchased NFTs, along with any Extensions that you choose to create or use, subject to your compliance with the terms of this License. The license is granted for the following purposes:
(i) personal, non-commercial use;
(ii) as part of a marketplace that verifies NFT ownership and displays the Art for their Purchased NFTs; or
(iii) as part of a third-party website or application that verifies NFT ownership and displays the Art for their Purchased NFTs, with the Art being no longer visible once the NFT owner leaves the website/application.
b. Commercial Use: African Beauty grants you a limited, worldwide, non-transferable license to commercially use, copy, and display the Art for your Purchased NFTs, subject to your compliance with the terms of this License. The license is granted as long as you do not earn more than $50,000 in gross revenue per twelve (12) months. Note that this section does not restrict:
(i) owning or operating a marketplace for NFTs, with verification of NFT ownership;
(ii) owning or operating a third-party website or application for NFTs, with verification of NFT ownership and with the Art being no longer visible once the NFT owner leaves the website/application; or
(iii) earning revenue from any of the above, even if the revenue exceeds $50,000 per year.
The license for the NFTs purchased only permits the personal, non-commercial use of the art and bars any alterations, promotion, or sale of third-party products or services using the art. The art should not be linked to any hateful or harmful media, which means it cannot be used in a way that spreads hate, violence, discrimination, or any other form of harm to individuals or society. Although the meaning of “hateful or harmful” may differ, it generally implies anything that is unpleasant, damaging, or dangerous. If the art includes third-party IP, it can only be used as it is integrated, adhering to any restrictions imposed by the creator. Any additional restrictions specified in writing by the creator must be followed or risk violating the license. These restrictions will still apply even after the license has expired or been terminated.
The License granted in Section 4 above applies only to the extent that you continue to Own the applicable Purchased NFT. Therefore, if at any time you sell, trade, donate, give away, transfer, or otherwise dispose of your Purchased NFT for any reason, the NFT license granted in Section 4 will immediately expire without the requirement of notice. As a result, you will have no further rights in or to the Art for those NFTs.
If you exceed the $50,000 limitation on annual gross revenue outlined in Section 4 (b) above, you will be in breach of this License. You must send an email to African Beauty at firstname.lastname@example.org within ten (10) days, with the phrase “NFT License – Commercial Use” in the subject line, to request a broader commercial license agreement or to obtain an exemption (which may be granted or withheld in African Beauty’s sole and absolute discretion). If you exceed the scope of the license grant in Section 4 (b) without entering into a broader license agreement with or obtaining an exemption from African Beauty, you acknowledge and agree that: (i) you are in breach of this License; (ii) in addition to any remedies that may be available to African Beauty at law or in equity, African Beauty may immediately terminate this License, without the requirement of notice; and (iii) you will be responsible for reimbursing African Beauty for any costs and expenses incurred by African Beauty while enforcing the terms of this License against you.
Additionally, African Beauty holds the right to utilize ANY artwork, including print or digital advertisements or any form of imaginative media (such as short films, anime, etc.) to promote and support the African Beauty community and its message.
African Beauty alone determines the distribution of the Royalty among its team, network of NFT Owners, charities, clubs, or community. African Beauty also reserves the right to choose not to impose any Royalty in the future.