These Collector Terms govern the rights of owners of non-fungible tokens (“NFTs”) minted on distributed digital ledgers or blockchains (“DDLs”) that contain or correspond to digital artworks (“Artworks”) created by Ghosto or other artists (each, a “Artist”), and which NFTs are first made available through the website operated Ghosto(M) Berhad currently located at Kuala Lumpur(Malaysia). In these words, such proprietors are referred to as “Collectors.”
If you mint or purchase an NFT through the Site, you agree to be bound by these Collector Terms and the Terms of Service, and if you purchase or otherwise get an NFT from a prior owner, these Collector Terms and the Terms of Service govern your rights to the NFT and the related Artwork.
We, “us,” and “our” refer to Ghosto and its affiliates, as well as their respective employees, officers, directors, shareholders, agents, representatives, licensors (including Artists), suppliers, and service providers.
If you mint or purchase an NFT on the Site, the blockchain will recognize your public blockchain address as the NFT’s owner, and you will be granted a restricted license to the corresponding Artwork as defined in these Collector Terms. Apart from that license, you have no rights in the Artwork; all rights in the Artwork remain with and are reserved by us. NFTs originally minted on or acquired through the Site are referred to as “Site NFTs,” and a Site NFT combined with the license rights in the related Artwork is referred to as a “Digital Item.”
For as long as you own a Site NFT, we grant you a limited, personal, non-exclusive, non-sublicensable, non-assignable (except pursuant to your transfer of the Site NFT), worldwide license to display and perform the corresponding Artwork uniquely identified by the Site NFT, solely and exclusively for personal, non-commercial use, subject to and conditioned on your compliance with these Collector Terms. With respect to any Digital Item (in whole or in part), we grant you no further rights, express or implied, which we reserve. You don’t get any rights under any patent, trademark, trade secret, or other intellectual property or proprietary right, for example. This is correct even if exercising any of the rights granted herein would be hindered, frustrated, or hampered without license if you did not do so.
You may not alter or make any derivative work based on any Digital Item, nor may you commercialize any Digital Item, in whole or in part, or anything that includes or embodies it. Your license forbids you from, and you will not, authorize, permit, or assist any third party in:
You will not: (a) construct, offer for sale, or sell fractionalized interests in any Digital Item; (b) detach, unlink, or decouple any Artwork from the associated Site NFT; or (c) use any Digital Item to create, offer for sale, advertise, promote, or sell anything, including additional NFTs.
You may transfer a Site NFT and the license to its accompanying Artwork to a third party unless you are otherwise forbidden from doing so, provided that:
You must pay us (or cause to be paid to us) a royalty equivalent to the amount paid by the transferee (without deductions of any kind) multiplied by 10 (ten) percent when you transfer any Digital Item. The platform through which you make the transfer may collect and pay us the royalty automatically, fulfilling your obligation to pay the applicable fee. All fees (e.g., “gas,” platform fees) and taxes (other than taxes on our net income) related with the transfer must be paid by you, and you will not deduct any such amounts from the applicable royalty. You must send all such sums to ghosto ‘s designated account or blockchain address in ETH or another cryptocurrency that ghosto accepts. If you obtain a digital item from a third party who has not paid the royalty due in connection with such transfer, and you obtain no license to the corresponding artwork (and for clarity, the license in section 2 above does not apply to you with respect to the corresponding artwork) .
Nfts, Artworks, and Digital assets on this website are for your personal use and enjoyment. We will be under no obligation to take any action or make any efforts to create or enhance their value if you purchase them with the expectation of profit.
We may, or we may authorize third parties to, make extra content, physical products, or other perks available to the owners of Site NFTs (“Collector Perks”) on occasion, albeit we have no obligation to do so. It is your responsibility to stay informed about Collector Perks (for example, by visiting the Site or other social media accounts) and, if necessary, to request or collect Collector Perks (which may entail verifying your ownership of the appropriate Site NFTs). Any terms for Collector Perks will be provided in an appropriate location relevant to the Collector Perk. Any works we supply as Collector Perks are subject to these Collector Conditions as if they were Digital Items, unless those terms state otherwise. Unless we clearly state otherwise when we make Collector Perks available, you will have no license rights to any tangible objects we make available. Any Collector Perk will be free of any responsibility or liability on our behalf or on the part of any third party.
Your rights to any Digital Items, including the rights to display and perform accompanying Artworks, will be immediately terminated without notice if you breach these Collector Terms, the Terms & Conditions, or any other policies stated on the Site. If ghosto, in its sole discretion, (a) deems that you have cured the breach (if capable of cure), or (b) waives the breach, ghosto may reinstate your rights by providing you with written notice of such reinstatement. ghosto may disable functionality for the affected Digital Items on the Site and on third-party sites, apps, platforms, and services, including preventing third-party sites, apps, platforms, and services from retrieving or displaying any corresponding Artwork, as well as take other steps to prevent unauthorized use of Digital Items. We won’t have any right or liability to you for taking actions, and you won’t interfere or attempt to interfere with them.
These Collector Terms, together with the Site’s Terms & Conditions, Privacy Policy posted on or referred to on the Site, constitute the entire agreement between you and us relating to the subject matter herein, and supersede any and all prior or contemporaneous written or oral agreements or understandings between you and us.
