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Terms & Condition of Use

Introduction

Welcome to Luxy (hereinafter also “Luxy”, “LUXY” or “we/us/our”). Luxy offers a software as a service solution, hereinafter referred to as the “Software” through our platform (“Platform”). The Software and Platform are hereinafter jointly be referred to as our “Services”.

1. Definitions

1.1 User(s): individual person(s) (natural persons) or legal entity(ies) making use of the Services. Also referred to as “you”.

1.2 Software: the Software enables Users, including artists (“Artists”) and collectors (“Collectors”), to use the Platform to sell, purchase, create, list for auction, make offers on, and bid on (each a “Transaction”) NFT’s. The Software also includes a launchpad (“Launchpad”). The Launchpad enables Users to purchase upcoming, not yet launched, NFT’s.

1.3 Platform: a distributed application, functioning as a marketplace, that runs on a blockchain network, using specially-developed smart contracts that provide an immutable ledger of all transactions that occur on the Luxy marketplace (“Smart Contracts”). Using these Smart Contracts, users can create, buy, transfer and trade unique digital asset(s) as in the form of an NFT.

1.4 Account: the Account on the Platform created by User, which is limited for use by User only through the Login Credentials.

1.5 NFT(‘s): a non-fungible token or similar digital item implemented on a blockchain (such as the Polygon blockchain), which uses smart contracts to link to or otherwise be associated with certain content or data.

2. User login

2.1 Users can browse the Platform without registering for an account. In order to participate on the Platform, you must connect your account to your digital wallet supported on MetaMask, WalletConnect or other wallet extensions or gateways as on the Platform.

3. Transactions and Fee

3.1 If a User purchases, sells, trades or creates an NFT on the Software, or with or from other users via the Software any financial transactions that you engage in will be conducted solely through a blockchain network (for example blockchain network Polygon) via MetaMask (or other Ethereum-compatible wallets and browsers). We have no insight into or control over these payments or transactions, nor do we have the ability to reverse any transactions. With that in mind, we will have no liability to you or to any third party for any claims or damages that may arise as a result of any transactions that you engage in via the Software, or using smart contracts, or any other transactions that you conduct via a blockchain network or MetaMask.

3.2 A blockchain network requires the payment of a transaction fee (a “Gas Fee”) for every transaction that occurs on the blockchain network. The Gas Fee funds the network of computers that run the decentralized blockchain network. This means that you will need to pay a Gas Fee for each transaction that occurs via the Software.

3.3 In addition to the Gas Fee, each time you utilise a smart contract to conduct a purchase transaction with another user via the App, you authorise us to collect: a commission of 2% of the total value of that transaction (the “Fee”). You acknowledge and agree that the Fee will be transferred directly to us through the blockchain network as part of your payment.

3.4 You are responsible for all taxes related to your sales and purchases by using the Services.

4. Fair use of the Services

4.1 You agree that you will use the Services as it is intended and that you not use the Services in such a way that you breach any applicable law and regulations.

4.2 You agree that you will not, nor allow third parties, unless explicit written permission has been granted by Luxy, to engage in, but not limited to, the following actions:

a. engage in deceptive or manipulative trading activities in any way, including bidding on your own items, preventing bidding, placing misleading bids or offers, or using the Platform to conceal economic activity;
b. email, upload, or otherwise distribute any content, that (i) infringes any intellectual property or other proprietary rights of any part;
c.harvest or collect email addresses or other contact information of other Users from the Platform by electronic or other means for the purposes of sending unsolicited emails or other unsolicited communications;
d. access or use the Platform to carry out financial activities subject to registration or licensing, including but not limited to creating, listing, or buying securities, commodities, options, real estate, or debt instruments;
e. circumvent, disable, enter, damage or otherwise interfere with any non-public and/or security features or parts of the Services;
f. send, upload or otherwise distribute viruses, worms, malicious code, spider, robot, junk mail, spam, chain letters, unsolicited offers or ads of any kind and for any purpose into the Services;
g. investigate, scan, or test the Services or any related system on any securities issues;
h. use any automated systems to withdraw data from the Services;
i. sell, distribute, copy, rent, sub-license, loan, merge, reproduce, alter, modify, reverse engineer, disassemble, decompile, transfer, exchange, hack, distribute, harm or misuse the Services;
j. create derivative works of any kind whatsoever.

4.3 Luxy has at any time all the rights to suspend or disable any part of all parts of the Services temporarily or permanently if User violates these Terms, this clause and/or causes damage to Luxy or Users.

4. Availability and maintenance of the Services

5.1 Luxy uses all reasonable efforts to ensure that you can access and use the Services at all times. Due to the nature of the Services, Luxy cannot guarantee the error-free and uninterrupted access to/and functioning of the Services.

5.2 Luxy does not accept any responsibility for unavailability of the Services, any difficulty or inability to download or access content, or any other technology system failure which may result in Services being partially or entirely unavailable.

5.3 Luxy may - at its own discretion - update, modify, or adapt the Services functionalities from time to time and shall try to keep possible downtime of the Services to a minimum. Luxy is not responsible for any support or maintenance regarding the Services during downtime.

5.4 Users are welcome to give feedback and suggestions regarding the Services, but ultimately Luxy decides which updates, modifications or adaptions to carry out or not to carry out.

5.5 To the maximum extent permitted by applicable law, Luxy hereby disclaims all implied warranties regarding the availability of the Services. The Services are provided “as is” and “as available” without warranty of any kind.

6. Privacy

6.1 In our privacy policy, you can read what kind of personal data we collect and why. Please familiarize yourself with our privacy policy at website. By using the Services, you agree to these privacy policy.

7. Intellectual property rights Artist

7.1 The Artist owns all legal rights, title, and interest in all intellectual property rights of the content underlying the NFT minted by the Artist on the Platform (such underlying content, the “Creative Material”) and any content specific to a Collection that is not the NFT within a Collection (“Collection Material”), including but not limited to copyrights and trademarks in the Creative Material and Collection Material.

7.2 The Artist acknowledges, and agrees that selling such NFT on the Platform constitutes an express representation, warranty, and covenant that the Artist (a) has not sold, tokenized or created another cryptographic token, and (b) will not, and will not cause another to, sell, tokenize, or create another cryptographic token, in each case representing a digital collectible for the same Creative Material underlying such NFT, and (c) that its Creative Material underlying any NFT launched on the Platform and Collection Material contain only original content otherwise authorized for use by the Artist, and do not contain unlicensed or unauthorized copyrighted content, including any imagery, design, audio, video, human likeness, or other unoriginal content not created by the Artist, not authorized for use by the Artist.

7.3 On the Platform, an Artist can mint new NFTs into a unique smart contract that represents a collection of such NFTs (a “Collection”). The Collection is wholly owned by the Artist that minted the Collection and cannot be sold or traded. However, the individual NFTs in a Collection can be sold in accordance with these Terms.

7.4 User hereby acknowledges, understands, and agrees that by launching, listing, or selling any NFT on the Platform, User hereby expressly and affirmatively grants to Luxy, and its affiliates, and its and their successors, a non-exclusive, world-wide, transferable, sublicensable, perpetual, irrevocable, and royalty-free license to (a) reproduce, display, perform, distribute and transmit the Creative Material underlying such NFT, and Collection Material, for the purpose of operating and developing the Platform, and (b) use and incorporate the Creative Material, the NFT and Collection Material, or derivative works of any of the foregoing, on any marketing materials, and to reproduce, display, perform, display and transmit such marketing materials on any media whether now known or later discovered for the purposes of operating, promoting, sharing, marketing, and advertising the Platform. The foregoing licenses include, without limitation, the express rights to: (i) display or perform the Creative Material such NFT, and Collection Material, on the Platform, a third party platform, social media posts, blogs, editorials, advertising, market reports, virtual galleries, museums, virtual environments, editorials, or to the public; (ii) index the Creative Material and Collection Material in electronic databases, indexes, and catalogues; and (iii) host, store, distribute, and reproduce one or more copies of such Creative Material and Collection Material within a distributed file keeping system, node cluster, or cause, direct, or solicit others to do so.

8. Intellectual property rights Collector

8.1 The Collector receives a cryptographic token representing the Artist’s Creative Material as a piece of property, but does not have any legal ownership regarding the Creative Material itself or any intellectual property rights therein, except the limited license to the Creative Material granted by these Terms.

8.2 The Collector receives from the seller of such NFT a limited, worldwide, non-assignable and non-transferable (except as expressly set forth below), non-sublicensable, royalty-free license to display the Creative Material underlying such NFT solely for the Collector’s non-commercial purposes, including the right to display such Creative Material privately or publicly: (i) for the purpose of promoting or sharing the Collector’s purchase of, ownership of, or interest in such NFT, (ii) for the purpose of sharing, promoting, discussing, or commenting on such Creative Material ; (iii) on third party marketplaces, exchanges, platforms, or applications in association with an offer to sell, or trade, the NFT; and (iv) within decentralized virtual environments, virtual worlds, virtual galleries, virtual museums, or other navigable and perceivable virtual environments (the “Collector License”). Upon any sale or transfer of the NFT to another collector, (a) the foregoing license will automatically transfer to such other collector, and such other collector will be deemed the “Collector” (for purposes of such NFT and the Collector License to the underlying Creative Material ) and will be subject to these Terms and (b) the seller or transferor of such NFT will cease to have any further rights to such Creative Material.

8.3 If a Collector sells, trades or transfers its NFT to a subsequent Collector, regardless of whether on or off the Platform, such Collector represents and warrants that it will (i) notify the subsequent Collector of these Terms and (ii) require the subsequent Collector to comply with these Terms.

8.4 The Collector agrees that it will not, and will not permit any third party to, do or attempt to do any of the foregoing without the Artist’s express prior written consent in each case: (i) modify, distort, mutilate, or perform any other modification to the Creative Material which would be prejudicial to the Artist’s honor or reputation; (ii) use the NFT or underlying Creative Material in connection with images, videos, or other forms of media that depict hatred, intolerance, violence, cruelty, or anything else that could reasonably be found to constitute hate speech or otherwise infringe upon the rights of others; (iii) (iv) incorporate the NFT or underlying Creative Material in movies, videos, video games, or any other forms of media for a commercial purpose, except to the limited extent that such use is expressly permitted by these Terms or solely for Collector’s personal, non-commercial use; (iv) sell, distribute for commercial gain, or otherwise commercialize merchandise that includes, contains, or consists of the NFT or underlying Creative Material; (v) attempt to trademark, copyright, or otherwise acquire additional intellectual property rights in or to the NFT or underlying Creative Material; (vi) attempt to mint, tokenize, or create an additional cryptographic token representing the same NFT or underlying Creative Material, whether on or off of the Platform; (vii) falsify, misrepresent, or conceal the authorship of the NFT or underlying Creative Material; or (viii) otherwise utilize any Creative Material or, except as expressly permitted under these Terms, the NFT for the Collector’s or any third party’s commercial benefit. Collector agrees that it receives no rights to any Collection Material and will not use, copy, distribute or otherwise exploit the Collection Material in any manner.

8.5 Collector irrevocably releases, acquits, and forever discharges Luxy and its affiliates and it and their officers and successors of any liability for direct or indirect copyright or trademark infringement for Luxy’s use of any NFT or underlying Creative Material, or any Collection Material, in accordance with these Terms.

9. Intellectual property right Services

9.1 Luxy is the exclusive licensee of all intellectual property rights vesting in and relating to (all content made available through the use of) our Services, such as - but not limited to - patents, patent applications, trademarks, trademark applications, database rights, service marks, trade names, copyrights, trade secrets, licenses, domain names, know-how, property rights and processes (“Intellectual Property Rights”). It is forbidden to copy or use the Intellectual Property Rights without prior written permission of Luxy, except and to the extent permitted by mandatory law.

9.2 If User no longer complies with its obligations, Luxy can withdraw this license with no notice of default being required.

10. Limitation of Liability

10.1 Without prejudice to other provisions in these Terms, Luxy or its suppliers is in no event liable for any damage resulting from the Services, including loss of profit arising in any way from, but not limited to:

a. the (lack of) financial benefit for the Users through the use of the Services;
b. any damage caused by transactions failures or other events related to third parties or blockchain networks.
c. the operation or unavailability of the Services;
d. any situation where Users of the Launchpad did not receive their purchased NFT’s;
e. any situation where Users devices and/or Login Credentials are stolen, and any third party subsequently makes use of the Services without User’s content;
f. using or downloading any functions and/or software available through the Services (such as hyperlinks);
g. claims of third parties (or regarding third parties) in connection with the use of the Services;
h. loss of data or computer damage;
i. any damage or alteration to User’s equipment as a result of the installation or use of the Services;
j. any damages caused by the documents provided by Luxy or third parties, such as, but not limited to, tutorials, help center, docs, blog, etc.
k. a failure to meet any of Luxy’s obligations under these Terms where such failure is due to events beyond Luxy’s reasonable control

10.2 To the maximum extent permitted by applicable law, you agree to defend, indemnify, and hold harmless Luxy, its affiliates, and their respective directors, officers, employees, agents, service providers, contractors, licensors, suppliers, successors, and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising out of or relating to your breach of these Terms of Use or your use of the Services, including, but not limited to, your submissions, third party platforms, any use of the intellectual property, services, and products other than as expressly authorized in these Terms.

11. Risks

11.1 The User understands and accepts the risks listed below in connection with the use of the Services. These include, but not limited to, the following risks:

11.2 Software risk: the Services are still under development and are subject to constant change. It cannot be ruled out that the Services are not yet fully developed and contains weak points or errors that may restrict the use or lead to the unavailability of the Services.

11.3 Use of blockchain network risks: the potential losses that a User can incur as the result of a blockchain network. This includes, but is not limited to, losses, damages or claims arising from (i) User error (e.g. forgotten access information (such as passwords, private keys, seeds or mnemonics or incorrectly construed Smart Contracts or other transactions); (ii) server failure or data loss; (iii) corrupted wallet files; (iv) unauthorised access or activities by third parties, including but not limited to the use of viruses, phishing, or other means of attack against the Software, the blockchain network, MetaMask or any other web3 compatible browser or wallet.

11.4 Smart Contracts risks: NFT’s are intangible digital assets that exist only by virtue of the ownership record maintained in a blockchain network. All Smart Contracts are conducted and occur on the decentralized ledger within a blockchain network. We have no control over, and make no guarantees, warranties or promises with in relation to Smart Contracts.

11.5 Regulations: to date, the Services have not been subject to any significant regulatory restrictions regarding the use of the Services. However, it is expressly pointed out that the Services may be extended to the extent that certain financial market or other regulations apply to Luxy or the Services in the future and this may also have an impact on Users.

11.6 Internet dangers and loss: the Services can become the target of physical or electronic attacks. This could lead to the loss of data (such as personal data or other data provided or created by the User) and/or loss of funds.

11.7 No guarantee of success: the use of the Services is no guarantee that the User will derive economic success from it.

11.8 Privacy risk: the User understands that your public wallet address will be made publicly visible (on the blockchain network) whenever you engage in a Transaction on the Platform.

11.9 General market and financial risk: the use of the Services does not guarantee economic success. The User is aware that the value of cryptoassets or NFT’s is subject to a general market risk and thus to fluctuations in value and price. Luxy has no influence on the values and prices of NFT’s, traded cryptoassets or other goods or assets. Users could lose money by using the Services.

11.10 Taxes: the use of the Services can have tax effects at the level of the User. The User expressly declares that he/she will clarify any tax effects and obtain appropriate advice (e.g. from a tax advisor). The User also expressly declares that he/she will not hold Luxy or any party associated therewith (in particular consultants, employees and other contractual partners) liable for tax obligations.

12. No financial advice

12.1 The information provided in the Services does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should not treat any of the Services content as such. Luxy does not recommend that any NFT or cryptocurrency should be bought, sold, or held by you. Nothing in the Services should be taken as an offer to buy, sell or hold a cryptocurrency or NFT. You should take reasonable steps to conduct your own due diligence and consult your financial advisory before making any investment decision. Luxy will not be held responsible for the investment decisions you make based on the information provided in the Services or on any of Luxy’s public channels such as social media or otherwise.

13. Disclaimer

13.1 Luxy provides the Services. Luxy does not provide financial, investment, legal, tax or any other professional advice. Luxy is not a financial advisor, investment advisor, portfolio manager or tax advisor. Nothing on the Platform or in the Services shall constitute or be construed as an offering of any currency or any financial instrument or as investment advice or investment recommendations (such as recommendations as to whether to purchase a currency or instrument) by Luxy or a recommendation as to an investment strategy by Luxy. You acknowledge and agree that Luxy is not responsible for your use of any information that you obtain in the Services. Your decisions made in reliance on the Services or your interpretations of the data found in the Services are your own, for which you have full responsibility. You expressly agree that you use the Services at your sole risk.

13.2 Luxy is not a wallet provider, exchange, broker, financial institution, or creditor. Luxy provides a peer-to-peer web3 service that helps users discover and directly interact with each other and NFTs available on public blockchains. We do not have custody or control over the NFTs or blockchains you are interacting with and we do not execute or effectuate purchases, transfers, or sales of NFTs. To use our Service, you must use a third-party wallet which allows you to engage in transactions on blockchains.

13.3 Luxy does not buy, sell, or ever take custody or possession of any NFT’s. The Services and the Platform facilitates User collection of NFT’s, but neither Luxy nor the Platform are custodians of any NFT’s. The User understands and acknowledges that the Smart Contracts do not give Luxy custody, possession, or control of any NFT’s or cryptocurrency at any time for the purpose of facilitating Transactions on the Platform. You affirm that you are aware and acknowledge that Luxy is a non-custodial service provider and has designed the Platform to be directly accessible by the Users without any involvement or actions taken by Luxy or any third-party. Luxy is not involved in the actual transaction between Users on the Marketplace. We have no control over, and do not guarantee the existence, quality, safety or legality of, items advertised; the ability of Users to sell items; the ability of buyers to pay for items; or that a buyer or seller will actually complete a transaction.

13.4 Luxy will strive to ensure the accuracy of the information listed in the Services, although it will not hold any responsibility for any missing or wrong information. No content in the Services is tailored to the specific needs of any individual, entity or group of individuals. Luxy expresses no opinion as to the future or expected value of any currency, security or other interest. Content in the Services may not be used as a basis for any financial or other product without the express prior written consent of Luxy.

13.5 Luxy is not party to any agreement between any users. You bear full responsibility for verifying the identity, legitimacy, and authenticity of NFTs that you purchase from third-party sellers using the Service and we make no claims about the identity, legitimacy, functionality, or authenticity of users or NFTs (and any content associated with such NFTs) visible on the Service.

13.6 You expressly acknowledge and agree that you may lose some or all of your funds. Cryptocurrencies and NFT’s are a new and insufficiently tested technology. In addition to the risks included herein, there are other risks associated with your use of the Services, and the purchase, holding and use of cryptocurrencies and NFT’s, including those that Luxy cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed herein.

14. Hyperlinks third party

14.1 Where Luxy provides hyperlinks to third party websites, such links are not an endorsement by Luxy of any products or services provided on or via such websites. The use of such hyperlinks is entirely at your own risk. Luxy accepts no responsibility or liability whatsoever with regard to the content, use or availability of such websites. The veracity, accuracy, reasonability, reliability and completeness of information contained on such internet sites have not been verified by Luxy.

15. Miscellaneous

15.1 Luxy reserves the right to change these Terms at any time without notice. By continuing to use the Services, you are agreeing to be bound by the updated Terms.

15.2 If we do not enforce (parts of) these Terms, this cannot be construed as consent or waiver of the right to enforce them at a later moment in time or against another User.

15.3 User cannot transfer the rights and obligations from these Terms to third parties.

15.4 The invalidity or unenforceability of any provision of these Terms shall not affect the validity or enforceability of any other provision of these Terms. Any such invalid or unenforceable provision shall be replaced or be deemed to be replaced by a provision that is considered to be valid and enforceable and which interpretation shall be as close as possible to the intent of the invalid provision.

16. Contact

16.1. Questions about these Terms can be sent to [email protected]

Last update: 24/08/2022

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