1. DEFINITIONS
● “ART” means any digital creation, art, design, and drawings created by its author, and first released to the public by the creator, that may be associated with an NFT that can be transferred or licensed to an owner.
● "NFT" means any blockchain-tracked, non-fungible token, such as those conforming to the ERC-721 standard, issued and tradable on a blockchain.
● “CREATOR” means the entity which released to the public the purchased NFT, and related ART, on behalf of its author, and/or acquired those rights and interests.
● “EFFECTIVE DATE” means the date on which this Agreement becomes attached to the NFT.
● “OWNER” means the current owner of the NFT.
● “PURCHASED NFT” means an NFT that one has purchased, or acquired in any way, and thus owns.
2. PURPOSE
This Agreement governs the terms of assignment of rights to the intellectual property rights on the ART. By acquiring the PURCHASED NFT, the OWNER agrees to these terms. This Agreement may be revised from time to time.
3. SHARING AND PROMOTING BetBarker PROJECTS
We encourage sharing of your personal BetBarker NFTs. If you intend to make commercial use of your BetBarker NFT, please contact us to ensure compliance with this Agreement. If you expect to exceed $100,000 in annual gross revenue from commercial use, contact us to discuss a broader license. The CREATOR retains the right to grant or deny exemptions and licenses.
4. ASSIGNMENT & LIMITED LICENSE TO USE
● Personal Use: The CREATOR grants a limited, worldwide, nonexclusive license to the OWNER to use their BetBarker NFT and related ART for personal, non-commercial use and to post it on socials.
● Commercial Use: The OWNER is granted a limited, worldwide, nonexclusive license to use the BetBarker NFT and related ART for commercial purposes, provided that annual gross revenue does not exceed $100,000.
● This commercial license is subject to the following conditions:
- No use that depicts hatred, intolerance, violence, or offensive content.
- No use to promote third-party goods or services without express approval.
- No use of the name “BetBarker” or related trademarks.
- No combining BetBarker NFT's with other BetBarker NFT's that you do not own, without the other owner’s permission.
- No attempt to trademark or copyright "BetBarker" or related ART.
- No promotion of betting, gambling, or other financial risk-based activities.
5. WARRANTIES AND INDEMNIFICATION
The OWNER warrants that they will conduct commercial activities legally and with adequate insurance. The OWNER shall indemnify the CREATOR from any claims arising from their commercial use of the BetBarker NFT.
6. TERM AND TERMINATION
The licenses apply only while the OWNER owns the BetBarker NFT. Breach of this Agreement may result in immediate termination of the license.
7. OWNERSHIP RIGHTS
The OWNER has full ownership rights in the BetBarker NFT, but not in the underlying intellectual property, beyond the limited licenses granted. Unauthorized use of the ART is prohibited.
8. SECONDARY ASSIGNMENT
The OWNER may resell the PURCHASED NFT on a marketplace that verifies NFT ownership and provides for a percentage of the resale price to be granted to the CREATOR. Subsequent owners are bound by this Agreement (as a mere 1% royalty fee was set).
9. COMPENSATION
Intellectual property rights are granted in consideration of the PURCHASE PRICE. The CREATOR is entitled to a commission on resales.
10. MORAL RIGHTS
The CREATOR retains all moral rights of the author. The OWNER shall respect these rights.
11. TRADEMARKS AND PROMOTION
The OWNER shall not use the CREATOR's trademarks, except when referencing “BetBarker” for non-commercial purposes. The CREATOR may promote the OWNER’s use of the ART.
12. COOPERATION
The CREATOR and OWNER shall cooperate in protecting the ART. The CREATOR may protect the ART if the OWNER fails to do so.
13. GOVERNING LAW
This Agreement is governed by the laws of the United States of America for federal law questions and the state of Delaware for state law questions.