Effective Date: April 30, 2024

INTRODUCTION

These terms and conditions (Terms) are between DAX Foundation, a company based in the British Virgin Islands (referred to as we, us or our), and you (referred to as the User). These Terms should be read alongside our privacy policy and user knowledge documents on the NFT marketplace.

Please read these Terms carefully as they hold important information affecting your legal rights. By clicking to accept and/or using our service, you agree to follow these Terms and all the terms referenced within. If you do not agree, you should not access or use the service.

We run a marketplace where Users can sell Digital Assets (Sellers) and others can buy them (Buyers). Digital Assets are unique non-fungible tokens (NFTs) connected to certain digital media and art (NFT Media) on the Ethereum blockchain using smart contracts.

We facilitate interaction between Users and NFTs on public blockchains, acting as a peer-to-peer service. We do not provide wallet services, act as an exchange, broker, financial institution, or creditor. To use our Service, you must use a third-party wallet for transactions on blockchains.

We are not involved in agreements between users. It is your responsibility to verify the authenticity of NFTs purchased from third-party sellers using the Service. We do not guarantee the legitimacy, functionality, or authenticity of users, NFTs, or associated content displayed on the Service.

We reserve the right to modify these Terms at any time at our discretion. If there are significant changes, we will make efforts to notify you through the Service or update the “Last Updated” date in these Terms. By continuing to use the Service, you agree to the updated Terms. It is your responsibility to review the Terms periodically to stay informed about changes.

The NFT marketplace can be accessed at https://www.DAX.Foundation/ and other channels or addresses. In these Terms, the term “User” refers to the person/entity registered as a Buyer or Seller with us or an individual browsing the NFT Marketplace.

If you use the NFT Marketplace on behalf of an employer or business entity, you confirm that you are authorized to act on their behalf and bind them to these Terms. Services like MagicLink, MoonPay, or Metamask are not provided by Us, and we are not responsible for any issues or losses related to these services.

ACCEPTANCE AND NFT MARKETPLACE SUMMARY

These Terms make up a legal agreement governing your use of the NFT Marketplace, including its content, features, and services. By using the NFT Marketplace, Users are considered to have accepted these Terms. The NFT Marketplace allows Buyers and Sellers to connect, buy, and sell NFTs online. We provide the NFT Marketplace for Users to form contracts for purchasing NFTs (Marketplace Services).

You understand that we only provide access to the NFT Marketplace and Marketplace Services. We do not partake in agreements between Users, and we do not control Buyer or Seller conduct, especially concerning the sale of unlawfully acquired NFTs.

REGISTRATION

To register, you must create an Account on the NFT Marketplace, providing required information about yourself. You agree to keep your registration information accurate, update it promptly, secure your password, and report any security breaches. Buyers and Sellers need to generate a link key for using their cryptocurrency wallet (e.g., Metamask wallet) with the NFT Marketplace. You will use this link key to integrate your Wallet.

You can browse the NFT Marketplace without registration, but you need to register to purchase an NFT. It’s crucial to safeguard your key and not share your Wallet details. Loss of access to your key or Wallet details may result in losing access to connected NFTs. We are not liable for losses due to key or private key misplacement.

Ensure your Wallet is accurately linked by clicking on a verified link on our website to prevent unauthorized access. Be cautious with unknown links, especially when connecting to certain Wallets. It’s essential to understand that owning NFTs depends on maintaining control of your Wallet. We do not store any information beyond what’s necessary for NFT sales. By linking your Wallet or using any NFT Marketplace services, you agree to our Terms. Make sure to read and comprehend them.

When linking your Wallet, a private key is generated to enable transactions using your Wallet. Maintain confidentiality and responsibility for your private key, password, and keystore. Any activities with your Wallet are your accountability. We are not liable for losses due to failure to comply with these Terms.

TRANSACTIONS : GENERAL

The NFT Marketplace allows you to sell, purchase, collect, and showcase NFTs on the Ethereum blockchain network, governed by Sales Terms unique to each transaction. After registration, Buyers can purchase NFTs from Sellers as per Listings on the NFT Marketplace. It’s the Buyer’s duty to verify purchase details and assume risk associated with Intellectual Property in purchased NFTs.

Sellers warrant that they have the legal right to the intellectual property in NFT Media listed on the NFT Marketplace. They must own or have authorization to mint, provide, or sell the NFTs.

TRANSACTION FORMAT

Transactions occur in a Fixed Price Sale setup. Sellers list NFTs at a fixed price, which Buyers can agree to buy, forming a binding agreement (Fixed Price Sale). Prices can be in IMX, ETH tokens, or other cryptocurrencies.

LISTINGS

Sellers need to register on the NFT Marketplace to list NFTs. They set prices but we do not determine their value. Service fees may be added, including Protocol and Royalty fees. Sellers agree to certain conditions when listing NFTs. Once a Buyer pays for an NFT, the Seller can no longer withdraw it from their inventory. Buyers should review the total price, including fees, before purchasing an NFT.

CONCLUSION OF TRANSACTIONS

When a Buyer pays the Purchase Price for an NFT on the Marketplace, the Seller accepts the offer, forming a binding agreement. Full payment transfers ownership of the NFT to the Buyer. Be cautious with wallet addresses to prevent unauthorized actions. For all transactions, Buyers must pay in Ether currency, ensuring sufficient funds in their linked Wallet. Paying with fraudulent or unlawful means is prohibited.

Buyer payment of the Purchase Price constitutes a payment to the Seller. Buyers are responsible for Transaction Fees associated with transactions. Accepting these Terms means agreeing to pay applicable fees tied to transactions. By using the NFT Marketplace, you consent to receiving notices electronically, including service-related communications and marketing materials. Keep your email address current to receive important information.

PAYMENTS

While we provide the NFT Marketplace, we do not handle payment processing on behalf of Sellers. Buyers must pay the Purchase Price in Ether at the time of purchasing an NFT. Misuse or fraudulent payment attempts are not allowed. Payments are final unless there are errors or fraud incidences.

Buyers take full responsibility for managing their electronic wallet and risk any unauthorized activity under their Account. We are not liable for communication failures or errors caused when using the NFT Marketplace.

Thank you for choosing the Decentralized Art Exchange Foundation. We are committed to providing you with exceptional service.