Last updated: August 7, 2023
The following NFT-Specific Terms form part of and are incorporated by reference into the Terms, available at https://www.proof.xyz/terms. In the event these NFT-Specific Terms are inconsistent with other provisions in the Terms as they relate to the PROOF Collective NFTs, these NFT-Specific Terms will control.
PROOF Collective NFT Perks
A Collector of a PROOF Collective NFT may receive Perks as determined by Proof in its sole discretion for a period of three (3) years after the PROOF Collective NFTs are first made available for sale (i.e., dropped) by Proof. Proof does not make any representation, warranty or guarantee that any Collector will receive any Perks or achieve any particular outcome as a result of owning any PROOF Collective NFT. Proof reserves the right, at its sole discretion, to restrict, limit, or deny any Perks to any Collector, including to limit the period of time when a Perk is available, for any reason, at any time. Perks are not intended to be an endorsement of any project, creator, NFT, individual or any other thing, and Proof makes no recommendation and provides no investment advice in connection with any Perks or otherwise as a result of holding or owning a PROOF Collective NFT.
Proof Collective NFT Royalties
Proof Collective NFT-Specific License Terms
Subject to continued compliance with these Terms, Proof grants the PROOF Collective NFT Collector a limited, worldwide, non-assignable and non-transferable (except as part of a Secondary Sale), non-sublicensable, royalty-free license to display the NFT IP for such Collector’s PROOF Collective NFT solely for the Collector’s non-commercial purposes (except as expressly permitted herein), including the right to display such NFT IP privately or publicly: (i) for the purpose of promoting or sharing the Collector’s purchase of, ownership of, or interest in such PROOF Collective NFT, (ii) for the purpose of sharing, promoting, discussing, or commenting on such PROOF Collective NFT or such NFT IP; (iii) on third party marketplaces, exchanges, platforms, or applications in association with a Transaction of the PROOF Collective NFT; and (iv) within decentralized virtual environments, virtual worlds, virtual galleries, virtual museums, or other navigable and perceivable virtual environments (the “Collector License”). While such Collector has the right to sell, trade, transfer, or use their PROOF Collective NFT, the Collector may not make commercial use of such NFT IP.