Kaleidoscopes by Marco Bottigelli - License NFT

digital asset ownership license
1. Definition

“NFT” means any blockchain-tracked, non-fungible token, such as those conforming to the ERC-721 standard, issued and tradable on a blockchain

“Reference Art” (hereinafter the Art) means any art, design, and drawings that may be associated with the Original NFT.

“Rights” refers to the intellectual property rights associated to the Reference Art that are subject to this License and may associated with a License NFT

“Original NFT” refers to the NFT associated to the Reference Art, which is not regulated by this license.

“License NFT” (hereinafter the NFT) refers to the NFT associated to the Rights, that can also be sold to an Owner.

 “Creator” means the person or entity who minted the Reference Art, i.e. who linked the Reference Art to an Original NFT in a blockchain and made it available to purchase in the first place.

“Owner” means the current owner of the NFT. Before the first sale of the NFT, the Owner can solely be the Creator or the owner of the Original NFT. When sold, the buyer becomes the sole Owner of the Purchased NFT. There can be several different owners of the NFT throughout time but only one Owner at a time.

“Purchased NFT” means an License NFT that the Owner owns.

“Third Party IP” means any third party patent rights (including, without limitation, patent applications and disclosures), copyrights, trademarks, know-how or any other intellectual property rights recognized in any country or jurisdiction in the world.

2. Object
This license is intended to govern the terms and conditions under which the Creator grants the Owner the Rights on the NFT to which this license is attached (hereinafter the “License”). This License shall apply to the extent no other written agreement has been concluded between the Creator and the Owner. In case of contradiction between such agreement and the License, the provisions of the agreement shall prevail.
3. Ownership
The Owner acknowledges and agree that the Creator (or, as applicable, its licensors) owns all legal right, title, and interest in and to the Art, and all intellectual property rights therein. The Rights that the Owner has in and to the Art are limited to those described in this License. Creator reserves all rights in and to the Art not expressly granted to the Owner in this License.
4. License
Subject to the Owner continued compliance with the terms of this License and applicable laws, the Creator grants the Owner, for the legal duration of the Rights, a worldwide, exclusive, transferable, and non-sublicensable license on the Art, under the following terms and conditions. The Creator hereby grants to the Owner the rights to reproduce, use, perform, display, publish, distribute, duplicate and exploit derivative works thereof, and to this end, subject to the Creator’s moral right and where technically required, edit, adapt and modify in a non-substantial way the Art, in any manner and any medium it may choose, and for any purpose whatsoever, including commercial, to and for the sole personal use of the public. By exception the Owner shall only have the right to sale the License NFT on a marketplace that permits the purchase and sale of the Owner’s Purchased NFT.
5. Royalty Fees and Payment

The Owner shall pay the Creator royalty fees equal to [20] [twenty] % of all profits earned from the commercial exploitation of the Art, in any way whatsoever, based, where applicable, on the retail price excluding tax.

Due royalties are payable in Ξ [ETH] to marcobottigelli.eth, or via PayPal at https://paypal.me/marcobottigelli

6. Restrictions

The Owner shall not, nor permit any third party to, do or attempt to do any of the foregoing without Creator’s express prior written consent in each case:

(i) modify the Art associated to the Purchased NFT in any way, including, without limitation, the shapes, designs, drawings, attributes, or color schemes (your use of Extensions will not constitute a prohibited modification hereunder);

(ii) use the Art associated to the Purchased NFTs in connection with images, videos, or other forms of media that depict hatred, intolerance, violence, cruelty, or anything else that could reasonably be found to constitute hate speech or otherwise infringe upon the rights of others;

(iii) use the Art associated to the Purchased NFTs in movies, videos, or any other forms of media, except to the limited extent that such use is expressly permitted 

(iv) attempt to trademark, copyright, or otherwise acquire additional Rights in or to the Art associated to the Purchased NFTs;

7. Termination
This License applies only to the extent that the Owner continues to Own the applicable License NFT. If at any time the Owner sells, trades, donates, gives away, transfers, or otherwise disposes of the Purchased NFT for any reason, the License shall immediately expire without the requirement of notice and be transferred along with the Purchased NFT to its new Owner. The Owner acknowledges that, by disposing the License NFT, no longer benefits from the rights granted by this License. Any use of the Art after its disposal shall be considered as an infringing act.
8. Governing Law
The validity of this License and any of its terms and provisions, as well as the rights and duties of the Creator and Owner hereunder, shall be governed, interpreted and enforced in accordance with the laws of Italy.