1. “Junior Kongz,” “Senior Kongz,” and “Ghost Kongz,” are each digital artwork collections in the form of NFTs (Non Fungible Tokens) that run on the Ethereum network.
2. “NFT” means a token that cannot be replaced, which exists in the blockchain network.
4. “Derivative Works” mean any creative works produced by means of translation, arrangement, alteration, dramatization, cinematization, etc. of an original work. However, mere copies of an Art or any alterations that do not actually change the Art do not constitute Derivative Works.
1. Ownership of the NFT. L.G.O is an NFT on the Ethereum blockchain. When you purchase an NFT you own the NFT completely. Ownership of the NFT is mediated entirely by the Smart Contract on the Ethereum Network: at no point may We (MetaKongz Co., Ltd. and the Project Kongz Team) seize, restrict, or otherwise modify the ownership of any L.G.O that you own.
The company determines the specific conditions of minting in consideration of the market environment, etc.
The minting conditions may be changed at any time and may be delayed, postponed, or canceled for technical reasons, etc.
a. for your own personal, non-commercial use;
b. as part of a marketplace that permits the purchase and sale of your L.G.O, provided that the marketplace cryptographically verifies each owner’s rights to display the Art related to the L.G.O to ensure that only the actual owner can display the Art; or
c. as part of a third party website or application that permits the inclusion, involvement, or participation of your L.G.O, provided that the website/application cryptographically verifies each owner’s rights to display the Art related to L.G.O 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 L.G.O leaves the website/application.
2. Commercial Use of Derivative Works. Subject to your continued compliance with these Terms, We grant you a worldwide, royalty-free, non-exclusive license to create and use Derivative Works of the Art related to the L.G.O you own (“Commercial Use”). Examples of such Commercial Use include the use of Derivative Arts for your own project, to produce and sell merchandise products (T-Shirts etc.) using Derivative Arts or displaying copies of Derivative Arts. For the sake of clarity, nothing in this Section restricts you from
a. owning or operating a marketplace that permits the use and sale of L.G.O generally, provided that the marketplace cryptographically verifies each owner’s rights to display the Art related to the L.G.O project to ensure that only the actual owner can display the Art;
b. owning or operating a third party website or application that permits the inclusion, involvement, or participation of L.G.O generally, provided that the third party website or application cryptographically verifies each owner’s rights to display the Art related to the L.G.O project 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 L.G.O leaves the website/application; or
c. earning revenue from any of the foregoing.
3. Restrictions. Notwithstanding the foregoing, you agree that you and any third party may not engage in the following acts without our expressed prior written consent. If We confirm that you have engaged in any of the following acts, you may lose your right to use your L.G.O which has been granted to you pursuant to this Terms.
a. use L.G.O NFT or any related Art(including Derivative Works) in connection with texts, images, videos, or other forms of media that (i) depict hatred, intolerance, violence, cruelty, or any other behavior that could reasonably be found to constitute hate speech or otherwise infringe upon the rights of others, (ii) relate to drugs (including, without limitation, both prescription and non-prescription) or other supplements, death, pornography or other “adult only” or sexually explicit activities, massage parlors, prostitution or any dating or escort activities, weapons or ammunition, (iii) denigrate or discriminate against individuals based on race, national origin, gender, religion, disability, ethnicity, sexual orientation, gender identity or age, medical conditions and/or political campaigns or causes, (iv) impersonate another person, infringe upon the property rights of another, including intellectual property rights, (v) encourage, promote or participate in illegal activities;
b. any other uses which may hinder any business conducted by MetaKongz Co., Ltd., or damage the reputation or credibility of MetaKongz Co., Ltd., including creating products or services that compete with Project Kongz.
4. Intellectual Property Right. Other than the rights to the Art, nothing hereinabove gives you any rights to any other trademarks or other intellectual property rights belonging to MetaKongz Co., Ltd., including, without limitation, the logos associated with Project Kongz, the Project Kongz Team, MetaKongz Co., Ltd., Junior Kongz, Senior Kongz, Ghost Kongz and any other logos associated with the NFTs that we issue. All of these rights are expressly reserved in MetaKongz Co., Ltd.
You acknowledge and agree with the following provisions:
1. With regard to the sale of your L.G.O NFT, please note that the prices of NFTs are extremely volatile, and the fluctuations in the prices of other NFTs impact the price of your L.G.O NFT both positively and negatively. You assume all risks about purchasing and trading L.G.O NFT. Given the volatility, NFTs such as L.G.O NFT should not be considered as a financial investment instrument and do not constitute securities or derivatives pursuant to the Financial Investment Service and Capital Markets Act.
2. Ownership of a L.G.O NFT confers ownership of NFT related to the digital Art only. Accordingly, no information on this website (or any other documents mentioned therein) is or may be considered to be advice or an invitation to enter into an agreement for any investment purpose. Further, nothing on this website qualifies or is intended to be an offering of securities in any jurisdiction nor does it constitute an offer or an invitation to purchase shares, securities or other financial products. Due to the artistic nature of the project, L.G.O project has not been registered or approved by any regulator in any jurisdiction. It remains your sole responsibility to confirm that the purchase of the L.G.O NFT and the associated Art is in compliance with laws and regulations in your jurisdiction.
3. You assume all risks associated with using an internet-based currency (including digital asset), including, but not limited to, the risks related to hardware, software and Internet connections, the risk of introducing malicious software, and the risk that third parties may obtain unauthorized access to information stored in your wallet.
4. NFTs, digital assets and blockchain technology are relatively new and the regulatory landscape is unsettled. New regulations could negatively impact such technologies impacting the value of your L.G.O NFT. You understand and accept all risk in this regard.
5. You assume all responsibility for any adverse effects of disruptions or other issues impacting the Ethereum Network or the Ethereum platform.
6. All NFT transactions takes place on the Ethereum blockchain. Accordingly, you are solely responsible for the safety and management of your Ethereum wallet (private keys for the wallet, etc.) and validating all transactions and contracts generated by this website before approval. Furthermore, as the smart contract related with L.G.O NFT runs on the Ethereum network, you cannot undo, reverse, or restore any transactions.
Secondary transaction fee
The company may charge the NFT seller a certain fee for the transaction for reasons such as the creative value of NFT works, the design of NFT issuance and operation, enhancement of the value of this project and roadmap, and the use of benefits to holders, etc. Secondary transaction fee collection is made by referring to global practices such as OpenSea.
Project Kongz NFT
Jurisdiction and Governing Law