Minting June 2022
Minting June 2022
African Beauty NFT owners have the right to copy, display, remix, and do other creative things with the character linked to their NFT. However, please remember that the License does not give you ownership of the underlying Art, brand, or other intellectual property associated with the project/publisher organization. Although this License is broad, it is subject to a few limitations.
The General NFT License below is a legally binding agreement between you and African Beauty. Therefore, please review this document carefully before deciding whether to acquire our NFT. If you have any questions, please get in touch with us.
“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 that you Own.
“NFT” means the NFT created or issued on the project/publisher Website or minted directly via a smart contract that is linked via metadata with specific Art (including but not limited to a particular visual character).
“NFT” means any blockchain-tracked, non-fungible token, such as those conforming to the ERC-721 standard.
“Own” means an NFT that you have purchased or otherwise rightfully acquired from a legitimate source, where proof of such purchase is recorded on the relevant blockchain.
“Economic Activity” means any activity engaged in to obtain income, regardless of whether the activity aims to make a profit.
You acknowledge and agree that African Beauty NFT (or, as applicable, its licensors) owns all legal rights, title, and interest in and to the Art and all intellectual property rights therein. The rights you have in and to the Art are limited to those described in this License. African Beauty reserves all rights in and to the Art not expressly granted to you in this License.
a. General/Personal Use: Subject to your continued compliance with the terms of this License, African Beauty grants you a worldwide, non-exclusive, 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, solely for the following purposes:
(i) for your own personal, non-commercial use;
(ii) as part of a marketplace that permits the purchase and sale of your NFTs, provided that the marketplace cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art; or
(iii) as part of a third-party website or application that permits the inclusion, involvement, or participation of your NFTs, provided that the website/application cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Purchased NFT leaves the website/application.
b. Commercial Use: Subject to your continued compliance with the terms of this License, African Beauty grants you a limited, worldwide, non-exclusive, non-transferable license to use, copy, and display the Art for your Purchased NFTs to commercialize your merchandise that includes, contains, or consists of the Art for your Purchased NFTs (“Commercial Use”), provided that such Commercial Use does not result in you earning more than Fifty Thousand Dollars ($50,000) in gross revenue per twelve (12) months. For the sake of clarity, nothing in this Section 4 (b) will be deemed to restrict you from:
(i) owning or operating a marketplace that permits the use and sale of NFTs generally, provided that the marketplace cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art;
(ii) owning or operating a third-party website or application that permits the inclusion, involvement, or participation of NFTs generally, provided that the third-party Website or application cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Purchased NFT leaves the website/application; or
(iii) earning revenue from any of the foregoing, even where such revenue is more than $50,000 per year.
You agree that you may not, nor permit any third party to do or attempt to do any of the foregoing without African Beauty’s express prior written consent in each case:
(i) modify the Art for your Purchased NFT in any way, including, without limitation, the shapes, designs, drawings, attributes, or color schemes (your use of Extensions will not constitute a prohibited modification hereunder);
(ii) use the Art for your Purchased NFTs to advertise, market, or sell any third-party product or service;
(iii) use the Art for your Purchased NFTs in connection with images, videos, or other forms of media that depict hatred, intolerance, violence, cruelty, or anything else that would constitute hate speech or otherwise infringe upon the rights of others to a reasonable person;
(iv) use the Art for your Purchased NFTs in movies, videos, or any other forms of media, except to the limited extent that such use is expressly permitted in Section 4 (b) above or solely for your own personal, non-commercial use;
(v) sell, distribute for commercial gain (including, without limitation, giving away in the hopes of eventual commercial gain), or otherwise commercialize merchandise that includes, contains, or consists of the Art for your Purchased NFTs, except as expressly permitted in Section 4 (b) above;
(vi) attempt to trademark, copyright, or otherwise acquire additional intellectual property rights in or to the Art for your Purchased NFTs; or
(vii) otherwise utilize the Art for your Purchased NFTs for your or any third party’s commercial benefit.
To the extent that Art associated with your Purchased NFTs contains Third Party IP (e.g., licensed intellectual property from a celebrity, athlete, or other public figure), you understand and agree as follows:
(i) that you will not have the right to use such Third Party IP in any way except as incorporated in the Art, and subject to the License and restrictions contained herein;
(ii) that the Commercial Use license in Section 4 (b) above will not apply;
(iii) that, depending on the nature of the License granted from the owner of the Third Party IP, Creator may need to pass through additional restrictions on your ability to use the Art; and
(iv) to the extent that Creator informs you of such additional restrictions in writing (email is permissible), you will be responsible for complying with all such restrictions from the date you receive the notice. That failure to do so will be deemed a breach of this License.
The limitations in Section 5 will survive the expiration or termination of this License.
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 info@africanbeauty.art 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.
Further, African Beauty reserves the right to use ANY artwork, including print or digital advertising, or any purely creative media (including short film, anime, etc.) to support the African Beauty community and message.
African Beauty has the sole discretion to decide how to distribute the Royalty between the team, within the network of African Beauty NFT Owners, charities, clubs, or the community. In its sole discretion, African Beauty may decide not to levy any Royalty at any point in the future.