TERMS OF SERVICE – LATINO SOCIETY
Welcome to the Terms of Service (these “Terms”) for the website, latinosociety.io (the “Website”), operated by Latino Society (“Company”, “we”, “us”, “our”). The Website and any content, tools, products, features and functionality offered on or through our Website are collectively referred to as the “Services”. These Terms govern your access to and use of the Services. Please read these Terms carefully, as they include important information about your legal rights. By accessing and/or using the Services, you are agreeing to these Terms. If you do not understand or agree to these Terms, please do not use the Services. For purposes of these Terms, “you” and “your” means you as the user of the Services. If you use the Services on behalf of a company or other lawful entity then “you” includes you and that entity, and you represent and warrant that (a) you are an authorized representative of the entity with the authority to bind the entity to these Terms, and (b) you agree to these Terms on the entity’s behalf.
“Agreement” as defined in Article 3.1 herein.
“Art” means any digital creation, art, design and drawings created by its author, and first released to the public by the Creator, that may be associated with an NFT that can be transferred to an Owner.
“Creator” means the entity which released to the public the Purchased NFT and related Art, on behalf of its author – in this case, the Company.
“Effective Date” means the date on which the Agreement is attached to the Purchased NFT for the first time.
“NFT” means any blockchain-tracked, non-fungible token. In this case, tokens created by Latino Society.
“Own” means, with respect to an NFT, an NFT that one has purchased or otherwise rightfully acquired from a legitimate source, where proof of such purchase is recorded on the relevant blockchain, thus becoming Owner of the Purchased NFT and related Art.
“Owner” means the current owner of the NFT and related Art. In the case of transfer of ownership, including by means of Resale, the recipient becomes the sole Owner of the Purchased NFT. There can be several different owners of each NFT (and related Art) throughout time but only one Owner at a time. Owner shall include Primary Owner and all subsequent Owners.
“Primary Assignment” means the first assignment by Creator of all its rights, title and interest in and to the intellectual property rights on the Art to Primary Owner.
“Primary Owner” means the individual or entity qualifying as Owner on the Effective Date and party to the Primary Assignment.
“Purchased NFT” means a Latino Society NFT that one has purchased, or acquired in any way, and thus Owns altogether with the related Art.
“Purchase Price” means the price for such NFTs as set forth in the applicable listing for the NFT, and all processing fees, commission fees, network fees (including gas fees), handling charges, and all applicable taxes in connection with your purchase.
“Resale” means the sale by Owner of the Purchased NFT and related Art to a subsequent buyer, which shall Own the Purchased NFT and related Art upon its effective purchase and thus become its new Owner.
“Secondary Assignment” means, in case of Resale, any and all assignment by Owner of all its rights, title and interest in and to the intellectual property rights in the Art to the subsequent buyer of the Purchased NFT.