Terms of Service

 

1.       Introduction

 

The Art Exchange is blockchain-based platform that allows anyone to buy, sell, and trade part ownership in masterpieces on a liquid exchange. It is the NFT Marketplace, which provides you with the ability to sell, buy, bid, collect and otherwise transact certain digital media and works of art including real world art objects that can be represented as non-fungible tokens on blockchain. The Art Exchange does not create digital art. We only conduct Art supervision and the Curator selects works of art, which will be presented at our Marketplace, and provide access for them to byers.

 

BY USING https://www.theart.exchange OR ANY OTHER PORTION OF THE ART EXCHANGE ECOSYSTEM, YOU ARE AGREEING TO THESE TERMS.  PLEASE READ THEM CAREFULLY. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT USE THE WEBSITE OR ANY PORTION OR FUNCTIONALITY OF THE ART EXCHANGE ECOSYSTEM.

 

2.       Accessing the Service

 

You represent and warrant that you:

 

·         have legal capacity and are of legal age to form a binding contract and that you are at least 18 years old,

·         have not previously been rejected for an account or removed/suspended/restricted from using the Art Exchange or the Services,

·         are of sound mind and are capable of taking responsibility for your own actions and have full power and authority to enter into this agreement,

·         are not violating any other agreement to which you are a party in entering in this agreement,

·         you are not a resident or citizen of any Restricted Jurisdiction,

·         all the information you provide to us are accurate, up to date and not misleading and that you will notify us of any changes to any information you have provided

·         any money/ digital assets that you use through the Art Exchange Platform or the Services do not originate from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any relevant jurisdiction,

·         will not use the Art Exchange Platform or the Services if any applicable laws in your country prohibit you from doing so and that your use of the Art Exchange Platform or the Services do not violate any laws or regulations of any jurisdiction that applies to you.

 

3.       What is a non-fungible token or “NFT”?

 

A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the Purchaser of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

The Art Exchange Ecosystem uses NFT’s or other blockchains tokens of ERC1155 standard and smart contracts that are published to the Ethereum blockchain. The platform is blockchain-agnostic and does not preclude the use of other blockchains in the future. The smart contracts are self-executing, meaning that when the parties use the smart contracts, the code of the contract will automatically collect and transfer payments and deliver the Work of Art.  The smart contract will automatically record to, and track on, the Blockchain the ownership, sale and transfer of Work of Art and related Token that represents the Work of Art. 

·                    NFTs do not comply with any of the existing legal entities in the laws of any country.

·                    NFTs are not things from the point of view of law, because they are not the subject of the material world and exist only in the virtual world.

·                    NFTs are not a kind of digital currency (cryptocurrency), because, although they are tokens, they do not perform a payment function. Their function is to store a unique code that characterizes the owner of the NFT as the person who has the right to a digital work corresponding to this unique code.

·                    Digital rights in NFT are always individually defined.

 

4.       Limitation of Liability

 

The Art Exchange is not a wallet provider, exchange, broker, financial institution, or creditor. The Art Exchange 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.

The Art Exchange does not create digital art. We only conduct art supervision and the Curator selects works of art, which will be presented at our Marketplace, and provide access for them to byers. The responsibility for checking and verification wallets and any transactions lies on your provider.

 

5.       Intellectual Property

 

The Art Exchange is only responsible for storage of works of art that takes place on the platform. The Art Exchange does not have exclusive or non-exclusive rights to works of art posted on the platform. All third-party trademarks, registered trademarks, and product names mentioned on the Service or contained in the content linked to or associated with any NFTs displayed on the Service are the property of their respective owners.

 

6.       Your Account; Your Third-Party Wallet

 

If you want to purchase Work of Arts on the Art Exchange Ecosystem or use other functionality of the Art Exchange Ecosystem, you first must confirm that you accept these Terms of Service and the Privacy Policy and open an Art Exchange account. You should create a digital wallet outside of the Art Exchange Ecosystem or use any digital wallet, compatible with the Art Exchange Ecosystem («Third-Party Wallet»).

By creating an account, you agree to provide accurate, current and complete account information about yourself, and to maintain and promptly update as necessary your account information. After your information has been verified, you will be added to the waiting list to receive an account. You will be notified via email once your account is approved. After you receive notification that your account is approved, click on the link in the email to finish the account creation process then link your Third-Party Wallet.  We use your Third-Party Wallet to validate your Art Exchange account.

Any funds held in the Third-Party Wallet are held by the third parties operating the Third-Party Wallet and not TheArt Exchange. The Art Exchange is not liable for the Third-Party Wallet terms of services, policies and disclaimers as well as not liable for Third-Party Wallet errors.

 

7.       Personal Data

 

The Art Exchange is not responsible for the storage of your personal data. The responsibility for storing personal data lies with your Third-Party Wallet or your platform. You confirm that you have been notified and informed of this by us.

 

8.       Ethereum Blockchain

 

As described in more detail below, the Art Exchange Ecosystem, among other things, provides in-browser (or otherwise local) software that facilitates the submission of Work of Art transaction data to the relevant Third-Party Wallet blockchain network.

In order to be completed, all proposed Work of Art transactions must be confirmed and recorded in the public ledger associated with your Third-Party Wallet’s network and in the Art Exchange Ethereum virtual network. Such networks are decentralized, peer-to-peer networks supported by independent third-parties, which are not owned, controlled or operated by Art Exchange. Third-Party Wallet networks and the Art Exchange Ecosystem are operated by decentralized networks of independent third parties. Art Exchange has no control over any Third-Party Wallet network or the Ethereum network and therefore cannot and does not ensure that any transaction details you submit via the Art Exchange Ecosystem will be confirmed via the relevant Third-Party Wallet network. You acknowledge and agree that the transaction details you submit via the Art Exchange Ecosystem may not be completed, or may be substantially delayed, by the Third-Party Wallet network or Ethereum Network, or both, used to process the transaction.

Each Work of Art is an intangible, digital asset. They exist only by virtue of the ownership record maintained in the   Ethereum network. The Art Exchange Ecosystem does not store, send or receive virtual currency. Any transfer of title of virtual currency occurs on the decentralized ledger within the Third-Party Wallet’s network and not within the Art Exchange Ecosystem. We do not guarantee that the Art Exchange Ecosystem can affect the transfer of title or right in any virtual currency. If you become aware of any unauthorized use of your Third-Party Wallet or of your Art Exchange account with us, you agree to notify us immediately at [email protected] .

When transaction details are submitted to the Virtual Currency network via the Art Exchange Ecosystem, the Art Exchange Ecosystem cannot assist you to cancel or otherwise modify your transaction details or smart contract.  Art Exchange has no control over any virtual currency network and does not have the ability to facilitate any requests to cancel or modify any virtual currency, Third Party Wallet or other transaction that has been submitted to the Ethereum blockchain

 

9.       Disclaimer

 

YOU UNDERSTAND AND AGREE THAT YOUR USE OF THE ART EXCHANGE ECOSYSTEM AND ANY PURCHASE, LICENSE, OWNERSHIP, VIEWING OR TRANSFER OF WORK OF ART IS AT YOUR SOLE RISK AND THE ART EXCHANGE ECOSYSTEM AND WORK OF ART ARE EACH PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

The information contained in this document and any information on the theart.exchange website is for informational purposes only and does not constitute an invitation to make an offer or an offer, financial or other advice, an inducement to buy or sell any service or security. Any use of the theart.exchange site is at the sole discretion of the TAEX user. The user of TAEX is aware of and accepts responsibility for the risk associated with the use of the site and participation in transactions with blockchain tokens. The user of TAEX should always conduct their own research, review and analysis, and check the content of the services before relying on or using them.

 

 

10.   Contact us

 

If you have questions or concerns, please contact us by e-mail at [email protected] .