TERMS & CONDITIONS
The BuddyPoke Collection consists of digital art pieces (NFTs) on the Ethereum and Solana networks. All sales, trades, and wallet management are facilitated through the OpenSea and Magic Eden platforms. BuddyPoke does not directly handle any sales or manage user wallets. It is the user's sole responsibility to safeguard and manage their assets on the OpenSea and Magic Eden platforms and to verify every transaction and contract before confirming. Transactions cannot be undone, reversed, or restored.
q Important Notice Regarding Cryptocurrencies and NFTs:
Please be aware that cryptocurrencies and Non-Fungible Tokens (NFTs) are relatively new and experimental technologies. At BuddyPoke, our NFT collections are offered primarily as digital art, embodying artistic expression and creativity. These NFTs are not intended to be used as financial products, investment vehicles, nor do they confer access to special features, platforms, or exclusive content. The value of cryptocurrencies and NFTs can be extremely volatile and unpredictable. As a collector, you should be prepared for the possibility that the value of your NFTs may decline to zero. BuddyPoke expressly disclaims any liability for any financial loss or diminution in value that may occur. We emphasize that our NFTs should be collected and held for their artistic and collectible value, rather than for speculative financial purposes. By engaging with our NFT collections, you acknowledge and agree to assume all risks associated with their purchase, holding, and use, including the risk of digital assets being subject to loss, theft, or technological issues leading to diminished or total loss of value. BuddyPoke is not responsible for any losses or damages arising from the inherent risks associated with these technologies, market fluctuations, or external factors beyond our control.
q Nature of the BuddyPoke NFTs:
The BuddyPoke NFTs represent digital artworks created by artists, intended solely for personal use and enjoyment, not as financial assets, investments, or securities.
q No Future Profit Guaranteed:
BuddyPoke NFTs are purchased for their artistic value, not as a financial investment.
BuddyPoke LLC emphasizes that the value of its NFTs is subject to market volatility and can be unpredictable.
Buyers should be aware that the value of NFTs can drop to zero, making the NFTs devoid of any financial worth.
q Pricing and Value Acknowledgement
The Purchaser acknowledges that the pricing of NFTs in this collection is based solely on the artistic effort, complexity, and the costs associated with the creation of each individual NFT, including but not limited to, the creative design process, the artistic attributes, and the digital rendering efforts involved.
The Purchaser expressly acknowledges that the pricing is not indicative of, and should not be relied upon as a representation or guarantee of, the future market value.
The Purchaser agrees and acknowledges that the purchase of an NFT should be undertaken with an understanding of the artistic value of the NFT, and not with an expectation of potential future profit or gain.
The Seller, BuddyPoke LLC, does not guarantee any future performance or value of the NFTs, and the Purchaser acknowledges that the value of the NFTs may fluctuate, including decreasing in value, for various reasons beyond the control of the Seller.
q Secondary Market Sales:
BuddyPoke LLC does not facilitate secondary market sales.
Secondary market sales are conducted between the buyer and the seller through Opensea or Magic Eden, without involvement or endorsement from BuddyPoke LLC.
Secondary market sellers and buyers must abide by these terms and conditions.
Sellers lose all rights conferred by these terms upon the completion of a secondary market sale, while buyers automatically agree to adhere to these terms.
q Creator Royalty Agreement:
BuddyPoke LLC has a Creator Royalty of 2.5% for its NFTs. This royalty is conceptualized primarily as a means to support and appreciate the artists behind the BuddyPoke NFT collection.
Platform-Dependent Implementation: The application of this royalty may differ from one platform to another. Each NFT marketplace has its own policies and mechanisms regarding royalties. As such, the optionality and enforcement of royalties are subject to the terms and conditions of the specific platform at the time of the transaction.
Responsibility of the Buyer: Potential buyers are advised to familiarize themselves with the royalty policies of the platform they intend to use for purchasing BuddyPoke NFTs. Where the royalty is optional, the decision to contribute is at the discretion of the buyer.
When executing a sale on secondary markets, such as OpenSea or Magic Eden, the presence and specifics of any Creator Royalty will be clearly indicated within the platform's interface. This ensures transparency, allowing buyers to be fully aware of any additional costs associated with the royalty before completing a transaction.
Non-Negotiable Terms: The terms of the royalty, as displayed on the platform, are part of the conditions of sale. BuddyPoke LLC advises all potential buyers to conduct their due diligence and review the terms and conditions of the respective NFT marketplaces before making a purchase. If a buyer is not in agreement with the possibility of a mandatory royalty, as determined by the platform policies, they should reconsider their purchase decision.
q Hosting and Backup Responsibilities:
NFTs are hosted on Arweave, a decentralized storage network intended to ensure permanent accessibility, though its perpetual existence is not guaranteed. Buyers are responsible for securing and backing up their digital assets to prevent potential loss.
q No Membership or Special Rights:
Owning an NFT does not confer any special rights, privileges, or memberships.
q Advisory Disclaimer:
BuddyPoke LLC does not provide financial, legal, or other types of advice.
Potential buyers should consult with qualified professionals before making a purchase.
q Sales Policy:
All sales are final with no provisions for refunds.
A sale is deemed complete when BuddyPoke LLC receives payment in ETH to the buddypoke.eth wallet, and the buyer receives the corresponding NFT from Opensea.
By making a purchase, buyers explicitly agree to all the terms and conditions herein.
q Limitation of Liability and Indemnification:
BuddyPoke LLC is not liable for fluctuations in the value of NFTs or for any losses incurred through owning an NFT.
Buyers agree to indemnify and hold BuddyPoke LLC and its associates harmless from all claims and liabilities arising from the ownership or use of the NFTs.
By agreeing to these terms and conditions, buyers waive the right to initiate any form of legal action, whether individually or as a part of a class, against BuddyPoke LLC arising out of or relating to the purchase, possession, or use of the NFTs.
q Adherence to Local Laws on Cryptocurrency and NFT Transactions:
Buyers must adhere to all applicable laws in relation to the purchase, possession, and use of digital assets.
You, as a purchaser or prospective purchaser of a BuddyPoke NFT, hereby acknowledge and agree to fully comply with all local, state, and federal laws, regulations, and policies applicable to cryptocurrency transactions, including but not limited to the purchase, sale, and possession of NFTs in your jurisdiction.
You understand that it is your personal responsibility to be aware of and honor all such relevant laws and regulations.
If cryptocurrencies or NFT transactions are prohibited or restricted in any form in your jurisdiction, you agree not to engage in any transactions involving BuddyPoke NFTs.
Any transaction that is undertaken in violation of this term or in violation of any applicable law shall be considered null and void, and may be reported to the relevant authorities.
q Declaration of Legal Age for Purchase:
You hereby declare and affirm that you meet the age requirement to legally purchase and possess BuddyPoke NFTs as stipulated by the laws of your local jurisdiction.
For purchasers in the United States, you affirm that you are at least 18 years of age at the time of the transaction, or older as required by the specific laws of your state of residence.
You understand that by engaging in a transaction involving BuddyPoke NFTs, you are asserting that you are of the requisite legal age to do so, and you accept full responsibility for complying with age-related legal requirements.
BuddyPoke LLC reserves the right to refuse service to anyone for any reason at any time, including if there is a reasonable belief that the purchaser is not of legal age to transact.
q Compliance with OpenSea Terms and Conditions:
By proceeding with the purchase of a BuddyPoke NFT through the OpenSea platform, you acknowledge and agree to be bound by the terms and conditions of OpenSea, which govern the use of their platform and services.
You understand that any violation of the OpenSea terms and conditions may result in consequences as outlined in the OpenSea policy, which may include, but not limited to, the suspension or termination of your OpenSea account.
You agree to familiarize yourself with, and abide by, OpenSea's terms and conditions, including any updates or amendments which may be made to those terms and conditions by OpenSea at its sole discretion.
You agree that BuddyPoke LLC is not responsible for any consequences resulting from violations of the OpenSea terms and conditions and that BuddyPoke LLC does not assume any liability for your use of the OpenSea platform.
q Compliance with Magic Eden Terms and Conditions:
By proceeding with the purchase of a BuddyPoke NFT through the Magic Eden platform, you acknowledge and agree to be bound by the terms and conditions of Magic Eden, which govern the use of their platform and services.
You understand that any violation of the Magic Eden terms and conditions may result in consequences as outlined in the Magic Eden policy, which may include, but not limited to, the suspension or termination of your Magic Eden account.
You agree to familiarize yourself with, and abide by, Magic Eden's terms and conditions, including any updates or amendments which may be made to those terms and conditions by Magic Eden at its sole discretion.
You agree that BuddyPoke LLC is not responsible for any consequences resulting from violations of the Magic Eden terms and conditions and that BuddyPoke LLC does not assume any liability for your use of the Magic Eden platform.
q Changes to Terms:
BuddyPoke LLC reserves the right to update or modify these terms and conditions at any time to accurately reflect changes in relevant laws, regulations, technological advancements, or other pertinent developments. These updates may occur with or without prior notice to you. However, we will make reasonable efforts to inform users of any significant updates that materially affect your rights or obligations under these terms and conditions. While there is no obligation to provide notice, BuddyPoke LLC commits to making a reasonable effort to inform users of significant alterations through appropriate channels, including postings on the official BuddyPoke website and Opensea.
It is your responsibility to review the terms and conditions periodically to stay informed about any changes. Continued use of the BuddyPoke NFTs after any such updates take effect will constitute your acceptance of the revised terms and conditions.
Personal Use and Intellectual Property Rights:
q Personal Use and Intellectual Property Rights:
Purchasing a BuddyPoke NFT grants you a non-exclusive, non-transferable, royalty-free license to use, copy, and display the digital art for personal, non-commercial use. Below we elaborate on what personal, non-commercial use entails:
q Non-Commercial Use Clarified:
Personal Enjoyment and Display: You are encouraged to enjoy the digital art privately or to display it in personal spaces, including but not limited to your personal social media profiles, personal blogs, or as a digital display in your home.
Gifts: You may gift the NFT to friends or family for non-commercial purposes. The recipient of the gift would be bound to these same terms of personal, non-commercial use.
Educational Use: You may use the digital art in educational presentations or materials as long as these are not monetized in any way. Proper credit to BuddyPoke LLC and the original artist should be displayed alongside the digital art.
q Prohibited Uses Include but are Not Limited to:
Resale of Digital Copies: Creating and selling physical or digital copies of the digital art is strictly prohibited.
Commercial Merchandising: Using the digital art in any form of merchandise for sale, such as prints, T-shirts, mugs, etc., is not allowed.
Commercial Distribution: Distributing the digital art on commercial platforms, websites, or mediums aimed at selling or monetizing the digital art is prohibited.
Commercial Advertising and Promotions: Utilizing the digital art in advertising, promotions, or marketing campaigns for commercial benefits is not allowed.
q Modification of Digital Art:
Purchasers are not permitted to modify, alter, or create derivative works based on the digital art, whether for personal use or for commercial purposes, without the express written permission of BuddyPoke LLC. Any modifications or alterations made without such permission will be considered a violation of BuddyPoke LLC's intellectual property rights.
q Reproduction and Redistribution:
Purchasers may not reproduce or redistribute the digital art for commercial purposes. Any sharing of the digital art should credit BuddyPoke LLC appropriately and must not infringe on the original artist's rights and the proprietary rights of BuddyPoke LLC.
q Intellectual Property:
BuddyPoke LLC retains all intellectual property rights, including copyrights, in and to the digital art, inclusive of all elements that constitute the digital art (like avatars, geometry, animation, poses, textures, backgrounds, etc.), and reserves the right to continue displaying the digital art on its website and other platforms, even after sale.
BuddyPoke LLC may, at its discretion, offer additional licenses granting further rights for an additional fee. Buyers interested in obtaining additional rights should contact BuddyPoke LLC directly to inquire about the availability and terms of such licenses.
By purchasing a BuddyPoke NFT, you agree to respect these moral rights and not to engage in any activity that would infringe upon these rights.
Storage of NFT Images and JSON Meta Files
BuddyPoke uses Arweave to store all NFT images and JSON meta files. Arweave is a decentralized storage network designed for permanent data storage. Once data is stored on Arweave, it remains immutable, ensuring the assets underlying your NFTs are always available and verifiable.
q Why Arweave?
We have opted for Arweave for several key reasons:
Decentralization: Arweave operates as a decentralized storage network. Such a structure ensures that no single entity or group controls the data, helping eliminate single points of failure and making the system resilient against potential external disruptions.
Permanence: Arweave's core proposition is its commitment to data permanence. Once a piece of data is stored on the network, it remains immutable. This characteristic is essential for NFTs, ensuring the underlying assets are always accessible and verifiable.
Security: Arweave employs a gamut of security protocols to safeguard user data. This includes mechanisms like encryption, data replication, and regular network audits.
Cost: Arweave's pricing model is transparent and straightforward. BuddyPoke has made a one-time upfront payment to Arweave to ensure perpetual data hosting, guaranteeing the long-term availability of your NFT-associated content, irrespective of BuddyPoke's future decisions or operational status.
q Drawbacks of Other Storage Solutions
While other storage solutions are available, they do not match Arweave's blend of decentralization, permanence, and security:
IPFS: IPFS operates as a decentralized network but lacks inherent data permanence. Data on IPFS is maintained by nodes, and if these nodes go offline, the data could be at risk. Moreover, IPFS requires ongoing payments to "pin" content to ensure its availability. If pinning fees aren't met, content can vanish. Furthermore, there's potential vulnerability concerning account hacks leading to data redirection or deletion.
GCS and AWS: Google Cloud Services (GCS) and Amazon AWS are centralized platforms, governed by Google and Amazon, respectively. Their centralized nature makes them susceptible to potential censorship, data alterations, or deletions by the host entities. Continual payment is essential for hosted data, making it vulnerable to potential disruptions due to missed payments, account hacks, or policy changes.
q Potential Risks with Arweave
While we firmly believe in Arweave's promise and strengths, no system is without its vulnerabilities. There's always the potential, albeit remote, for unforeseen disruptions to any network, including Arweave.
q Our Commitment
At BuddyPoke, we prioritize our users' experience and the longevity of the assets they invest in. Our decision to use Arweave stems from a commitment to offer the best available solution for our NFTs. We're dedicated to keeping our community informed about any significant developments, changes, or potential risks.
BuddyPoke's choice of Arweave is grounded in a belief in its unique capabilities in the realm of NFT storage. We've made this choice to ensure that our users' NFTs remain available and verifiable long into the future. By purchasing a BuddyPoke NFT, you acknowledge and accept the associated risks and our commitment to prioritizing your experience.
Dispute Resolution and Governing Law:
In the event of any disputes, controversies, or claims arising out of or relating to the BuddyPoke NFTs, the parties agree to first attempt to resolve the dispute amicably through informal negotiations initiated by a written notice from one party to the other.
If the dispute cannot be resolved through informal negotiations within thirty (30) days from the date of the written notice, either party may elect to resolve the dispute through binding arbitration. Within ten (10) days of the decision to proceed to arbitration, BuddyPoke LLC will propose a list of three potential arbitrators. Both parties will mutually agree upon a single arbitrator from the proposed list within ten (10) days of receiving the list of potential arbitrators. The arbitration will be conducted in accordance with the rules of the American Arbitration Association.
The arbitration shall take place in the San Francisco Bay Area, California, and shall be conducted in English. The arbitrator's decision shall be final and binding on both parties.
The buyers agree to waive their right to bring any claims under this agreement to court, including any right to a jury trial, and understand that arbitration is the exclusive remedy for any disputes under this agreement.
These terms and conditions shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of law principles.
By purchasing a BuddyPoke NFT, you agree to be bound by this arbitration agreement and waive any right to participate in a class action lawsuit or class-wide arbitration.
q 1. General Indemnification
The Buyer (“Indemnifying Party“) agrees to indemnify, defend, and hold harmless the Seller, its agents, affiliates, and employees (Indemnified Party) from and against any and all losses, liabilities, expenses, damages, and costs, including reasonable attorneys&rsquo fees and court costs, arising or resulting from any breach of the representations, warranties, and agreements set forth in this Agreement.
q 2. Breach of Terms and Conditions
The Indemnifying Party further agrees to indemnify and hold the Indemnified Party harmless from and against any and all losses arising out of or resulting from any breach of the terms and conditions of this Agreement, including any breach of warranties, representations, covenants, or agreements contained herein.
q 3. Misuse of Digital Art
The Indemnifying Party agrees to indemnify and hold the Indemnified Party harmless from and against any and all losses incurred as a result of the misuse of the digital art acquired through this Agreement, including, but not limited to, unauthorized reproduction, distribution, or display of the digital art.
q 4. Third-party Claims
The Indemnifying Party will indemnify and hold the Indemnified Party harmless from and against any and all claims brought by third parties arising out of the Indemnifying Party's use, possession, or distribution of the digital art, including, but not limited to, claims based on infringement of intellectual property rights, defamation, invasion of privacy, or other legal theories.
q 5. Notice and Cooperation
The Indemnified Party shall promptly notify the Indemnifying Party of any claim, action or demand for which indemnification is sought and shall cooperate fully with the Indemnifying Party, at the Indemnifying Party&rsquos expense, in the defense or settlement thereof.
q 6. Survival
This indemnification clause shall survive the termination or expiration of this Agreement for any reason whatsoever and shall continue in full force and effect thereafter.
q Understanding NFT Nature:
Personal Use: BuddyPoke NFTs are primarily created for personal enjoyment. Consider them akin to a piece of art that you purchase to admire and appreciate. Not a Financial Instrument: It's vital to understand that BuddyPoke NFTs are not financial instruments and should not be treated as an investment.
q Market Volatility:
Fluctuating Values: Just as art can vary in value, so too can the value of an NFT fluctuate, potentially even dropping to zero.
q Purchasing Wisely:
Informed Decisions: Before making a purchase, acquaint yourself with the artistic value and the efforts put into creating the NFT.
No Guarantees on Future Profits: Remember, the primary purpose of purchasing an NFT should be personal enjoyment, not financial gain.
q Secondary Market Sales:
No Facilitation by BuddyPoke LLC: Be aware that BuddyPoke LLC does not facilitate or endorse secondary market sales.
q Digital Asset Responsibility:
Decentralized Hosting: NFTs are hosted on a decentralized platform, and while efforts are made to ensure their permanence, it is not guaranteed.
Backup and Security: The Buyer acknowledges that it is their sole responsibility to maintain appropriate and secure means for the backup and storage of their digital assets acquired through the platform. This includes ensuring the secure possession of necessary private keys, passwords, and other credentials that control access to the digital assets.
Secure Storage Solutions: We strongly recommend that Buyers employ reliable and secure storage solutions to safeguard their digital assets. Consider utilizing reputable digital wallets or other storage mediums designed with advanced security features.
Risks of Loss: The Buyer recognizes that there are inherent risks associated with storing digital assets, including but not limited to the risk of loss due to technical failures, security breaches, lost access credentials, and other unforeseen circumstances. The Buyer agrees to assume all risks of loss and to indemnify and hold harmless the platform, its affiliates, and their respective officers, directors, employees, and agents from and against any and all claims, liabilities, damages, losses, or expenses, including legal fees and costs, arising out of or in any way connected with the Buyer's failure to properly secure their digital assets.
q Adhering to Legal Norms:
Age Requirement: Ensure that you meet the legal age requirements as stipulated by your local jurisdiction before making a purchase.
Compliance with Cryptocurrency Laws: Make sure to adhere to all applicable laws governing cryptocurrency transactions in your jurisdiction.
q OpenSea Platform Usage:
Familiarity with OpenSea Terms: Since transactions are facilitated through the OpenSea platform, users should familiarize themselves with OpenSea's terms and conditions to avoid violations and potential consequences.
q Magic Eden Platform Usage:
Familiarity with Magic Eden Terms: Since transactions are facilitated through the Magic Eden platform, users should familiarize themselves with Magic Eden's terms and conditions to avoid violations and potential consequences.
q Arweave and Permanent Storage:
Commitment to Permanence: BuddyPoke uses Arweave for NFT storage because of its unique approach to permanent data hosting. With an upfront payment made by BuddyPoke, your NFT's images and metadata are stored indefinitely, ensuring consistent verifiability and availability.
Decentralized Yet Reliable: Arweave's decentralized design minimizes risks like censorship and central failures. However, all technologies have inherent risks. By purchasing, you acknowledge the rare chance of Arweave facing issues and agree that BuddyPoke shall not be held responsible for any failures or shortcomings of the Arweave platform.
q Personal and Intellectual Property Rights:
Non-Commercial Usage: Understand the boundaries of personal, non-commercial use to enjoy your NFTs without infringing on BuddyPoke LLC's intellectual property rights.
q Respecting Art and Artists:
Credit Where Due: If sharing the digital art, always provide appropriate credit to BuddyPoke LLC and respect the rights of the original artist.
q Resolution of Disputes:
Arbitration Agreement: In the event of disputes, be prepared to settle through the outlined arbitration process, acknowledging the waiver of rights to bring any claims to court.
q Stay Updated:
Changes to Terms and Conditions: Regularly check for updates to the terms and conditions to stay informed and compliant with the rules governing the use of BuddyPoke NFTs.
©2024 BuddyPoke, LLC. All rights reserved.