Effective Date: December 1, 2021
INTRODUCTION
These NFT Terms describe the sale and license terms for the digital artworks and/or collectibles (“NFTs”) purchased from MECHA CHAOTIC, LLC (“MECHA CHAOTIC”, “we”, “us”, “our”) through our Website. Our Terms of Use, and Privacy Policy, are intended to be read side by side with these NFT Terms and are herein incorporated by reference to form a single, binding agreement.
NFT SALES AND LICENSE RIGHTS
The NFTs exist on the Ethereum blockchain. Each NFT sold to you via a transaction using the Services is a smart contract executed on the Ethereum network. Therefore, the transaction cannot be reversed or otherwise refunded. As a result, all sales are final. Furthermore, once the purchase is complete and the smart contract is executed, MECHA CHAOTIC cannot attempt to regain the purchased NFT.
When you purchase a NFT (the “Purchased NFT”) via our Services and the smart contract is executed on the Ethereum blockchain, MECHA CHAOTIC grants you a worldwide, royalty-free, sublicensable, transferrable license to use, display, reproduce, and distribute copies of the Purchased NFT for personal or commercial purposes, subject to your compliance with these Terms of Use. The license does not include any license rights to any individual elements or features of the Purchased NFT but only to the Purchased NFT in its entirety. Such licensed use explicitly includes the sale of your Purchased NFT on a third-party marketplace or the display of your Purchased NFT on a third-party website, provided that the third party, in both instances, cryptographically verifies the Purchased NFT owner’s rights. Furthermore, such licensed use explicitly includes the creation of derivatives, modifications, or improvements to the Purchased NFT (“NFT Derivatives”). For the avoidance of doubt, nothing in this section shall be deemed to prevent you from owning or operating the aforementioned third-party marketplace or website, provided that the marketplace or website cryptographically verifies the Purchased NFT.