NiftyCharms CharmNFT Magic & Ownership Guide

Welcome to the NiftyCharms CharmNFT Magic & Ownership Guide. This document outlines the exclusive rights bestowed upon you as a NiftyCharms CharmNFT owner, offering you a gateway to personal enjoyment and, in some cases, commercial opportunities. Every CharmNFT is imbued with specific rights, including personal use rights that endure across all who have owned the CharmNFT. Additionally, select CharmNFTs may grant commercial rights to the artwork, the song, or both.

Charm-Specific Terms and Superseding Magic

These general terms cover all NiftyCharms CharmNFTs. Yet, some charms may come with unique enchantments—special terms that reside within the NFT’s description, downloadable files, or safeguarded behind a token gate. Should these individual terms differ in a clear and unmistakable way, consider them the higher magic of that charm, superseding the general terms here. Each charm tells its own story, with terms woven as part of its personal spellbook—accessible only to those who possess it. In such cases, the charm’s unique magic takes precedence, blending seamlessly with these overarching terms where it aligns.

A World of Enchantment and Opportunity

As a NiftyCharms CharmNFT owner, you unlock a realm of extraordinary possibilities:

  • 100% Ownership and Transfer Conditions: As the charm’s owner and guardian, you harness the wellspring of its power. Transfers must be made through enchanted channels that ensure the charm’s magical royalty is safely delivered. This ensures the new Keeper receives all the legal and magical rights they are entitled to, while also protecting you from legal difficulties. Failure to comply with this requirement may result in the new owner not being granted legal rights to the CharmNFT or any associated commercial rights, making you liable for any damages.
  • Flexibility to Use and Share: All CharmNFTs come with personal rights, allowing the holder to revel in its magic, showcasing it publicly or privately in any non-commercial manner. For those with commercial rights, in addition to personal rights, the charm’s magic empowers you to craft wondrous creations, bringing the art and/or song to life in ways that can enchant others.
  • Protection of Value: To preserve the spellbinding allure and value of your CharmNFT, we’ve woven in protective measures that safeguard its exclusivity, ensuring your investment remains a treasured asset in the market.

Shared Commercial Rights: The Magic We Share

For CharmNFTs that include commercial rights, these rights are entrusted to you as the CharmNFT owner. NiftyCharms retains its inherent rights to the artwork and song, ensuring both parties can use the granted elements commercially within the outlined restrictions, without infringing upon each other’s rights.

Ownership and Commercial Rights: The Power in Your Hands

If your CharmNFT includes commercial rights, you hold the power to generate 100% of the revenue from your commercial activities related to the specific rights granted by the CharmNFT.

  • Unleash Your Creative Potential: Your creative ventures not only bring the charm’s magic to life but also contribute to its enduring legacy. The commercial rights are yours to explore, allowing you to craft and market products that resonate with the charm’s magic. From captivating merchandise to soulful music, your creative endeavors are limited only by your vision and the agreed-upon guidelines.

Guardians of the Charm’s Magic: Protection of Value

To preserve the charm’s allure and market value, protective measures are in place to safeguard its exclusivity, ensuring your investment remains a treasured asset.

  • ART: If your CharmNFT grants you commercial rights to the artwork, you may create derivative works based on the original art. You are also allowed to sell physical versions of the original artwork and any derivative works. However, selling the original or derivative works as NFTs, or transferring the digital versions to others for commercial use, is strictly prohibited. Physical sales, such as prints or merchandise, are allowed within the scope of the granted rights.
  • SONG: If your CharmNFT grants you commercial rights to the song, you are empowered to use the song in ways similar to how a major music label might manage its catalog. You can use the song in commercial productions, create derivative works, and license it for specific uses. However, to protect the value of the NFT and the rights it conveys to future owners, you are prohibited from selling the song or any derivatives as NFTs or licensing the song in a way that extends beyond your ownership of the CharmNFT. This ensures that all commercial rights revert to the new owner when the CharmNFT is sold.

Personal Use Rights

  • Use of Art When Exclusively for Personal Use: If the art portion of the CharmNFT is granted for personal use only, you may enjoy the art personally—display it, print it, include it in non-commercial posts, or create personal items incorporating the art. These rights do not extend to commercial use. Personal use rights for others can only be transferred through the sale of the CharmNFT.
  • Use of Song When Exclusively for Personal Use: If the song portion of the CharmNFT is granted for personal use only, it may be enjoyed in ways typically permitted for personally purchased digital music. These rights do not extend to commercial use. Personal use rights for others can only be transferred through the sale of the CharmNFT, similar to selling physical media.

The Magic Lives On: Lifelong Personal Use

Your connection to the magic doesn’t end when ownership transfers. While the new owner may unlock the charm’s full potential, you retain lifelong personal use rights for the artwork, song, and any exclusive content accessed during your ownership. Past owners remain woven into the charm’s legacy, sharing a unique connection that transcends ownership.

Additional Content

Any additional exclusive content unlocked as part of the CharmNFT’s ownership (e.g., music, stories, audio files) is governed by the same terms, ensuring consistency and clarity. Exceptions may apply to specific content governed by third-party agreements or other identified exceptions, which will be clearly communicated.

Conditions for Rights Validity

  • Royalty Payment Requirement: Any transfer of the CharmNFT must ensure that the royalty payment on the entire purchase price is processed by the smart contract. Rights—whether personal or commercial—are only valid if the full royalty payment is executed as stipulated by the smart contract. All transfers must be processed by the smart contract, which automatically pays NiftyCharms the full royalty on the entire purchase price. Off-platform sales are only permitted if pre-arranged with and agreed upon by NiftyCharms, with all conditions met. Failure to comply, or any attempt to circumvent the royalty on the full price at fair market value, will result in the new owner being denied legal rights to the CharmNFT and its associated rights, and the seller and buyer will be liable for any damages to the new owner and to NiftyCharms, including legal fees.
  • Fair Market Value and Payment Integrity: All CharmNFT sales must be conducted at fair market value, preserving the charm’s true worth and ensuring that all payment obligations are honored.
  • Enforcement of Rights: You have the power to protect your granted rights from third-party infringement, but you cannot enforce these rights against NiftyCharms. If this limitation does not hold, NiftyCharms’ liability is limited to the lesser of the original amount of cryptocurrency you bestowed upon us at the time of purchase or royalty payment, or the fair market value of that cryptocurrency at the time the mists of settlement clear.

Guardianship Against Shadowy Claims

By embracing this CharmNFT, you agree to shield NiftyCharms from any dark specters—claims, disputes, or demands—arising from your use of the charm. Should any third-party spirits allege that your enchantments infringe upon their mystical rights, you shall defend and hold NiftyCharms harmless against these shadowy claims at your own expense. The magic bestowed upon you is granted as-is, without warranties from this realm or any other.

Limitation of Enchanted Liability

In no event shall NiftyCharms be liable for any indirect, incidental, or consequential misfortunes arising from your journey with the CharmNFT. This includes, but is not limited to, losses from spectral claims, curses, or any other enchantments befalling you across any realm. Our enchanted liability is strictly limited to the magic we have directly received from you, calculated as the lesser of:

  • The original amount of cryptocurrency (e.g., ETH) you bestowed upon us at the time of purchase or royalty payment; or
  • The fair market value of that cryptocurrency at the moment the mists of settlement clear (time of resolution of any claim).

This ensures that our liability remains tethered to the original exchange of magic, unaffected by the ever-shifting sands of crypto realms. The enchanted essence we shared shall not fluctuate with market whims, protecting both the Keeper and NiftyCharms from unforeseen distortions in value.

Governing Law of the Everlasting Enchanted Realm

These terms and your use of the CharmNFT are governed by the mystical laws of the Everlasting Enchanted Realm of Singapore, without regard to its conflict of laws principles. The spells and statutes of this enduring realm shall guide the interpretation and enforcement of these terms, remaining constant even as the physical realm of NiftyCharms may change over time.

Resolution of Enchanted Disputes

In the unlikely event that any discord arises under or in connection with these enchanted terms, the parties shall first seek to resolve it through harmonious dialogue, guided by the wisdom of mutual respect.

Should the stars misalign and the dispute persist, it shall be finally settled by binding arbitration administered by the Singapore International Arbitration Centre (SIAC), under its Arbitration Rules, which are hereby deemed incorporated by reference.

  • The seat of arbitration shall be within the mystical borders of the Enchanted Realm of Singapore, yet the proceedings may be conducted through enchanted means, allowing all Keepers to participate from any realm they inhabit.
  • The arbitration shall be conducted in the common tongue (English), and the sages’ award shall be final and binding upon both parties, enforceable in any realm.
  • The number of sages (arbitrators) shall be one, unless the parties agree to a council of three.

Enduring Enchantment Clause

The magic woven into these terms is timeless. Should NiftyCharms traverse new realms or dimensions, these terms shall remain in effect, binding upon all Keepers of the Charms, unless amended by NiftyCharms with due notice through enchanted channels (e.g., official website updates or mystical notifications). Your continued use of the CharmNFT after such amendments signifies your acceptance of the new enchantments.

Transferability of Terms

These terms are part of the charm’s magic, binding on all current and future CharmNFT owners. They ensure the magic and value of your CharmNFT flourish as it changes hands, allowing each new owner to contribute to its story.

Agreement Acceptance

By purchasing this CharmNFT, you agree to these terms, which transfer to subsequent owners, ensuring the magic of NiftyCharms is upheld across generations of CharmNFT enthusiasts.