📝Terms Of Service

KONMARKET Terms of service

Article 1 (Purpose]

These Terms of Use outline the rights and responsibilities of both the company and its members, as well as other necessary details when members who have agreed to the Terms of Use of "KONMARKET" (hereinafter referred to as the "Company") trade "NFT" within the "KONMARKET" service.

Article 2 (Definition of Terms)

1. “NFT” refers to non-fungible tokenization of digital files such as pictures, videos, and music.

2. “Creator” means a person who issues and distributes “NFT” for the first time, and among those who have a history of Minting on the “NFT” market platform or who are judged by the “Company” to have equivalent qualifications, generally “NFT” A person who produces a digital work linked to “Creator” becomes a “Creator”.

3. “Seller” refers to a person who owns a work and sells the work owned by the person who owns the “owner’s right” or who publishes and sells the work for the first time.

4. “Buyer” refers to a person who purchases the ownership of a work from the “Seller”.

5. “Immediate purchase” means purchasing the right to use the work within a certain limit, and possessing NFT does not mean acquiring intellectual property rights, including copyright, or other rights pertaining to the work itself.

6. “Ownership” means the limited scope of personal non-commercial use and resale rights.

7. If the “maker” unlinks the wallet, it can be recovered by itself using the seed phrase, and since the seed phrase is to access and control assets, the responsibility for management rests with the user. The company does not take any responsibility if the seed phrase is lost or stolen. If the seed phrase is lost and cannot be found, it cannot be restored. In addition, withdrawal and withdrawal are suspended in the event of a legal dispute regarding copyright infringement.

Article 3 (Role of the Company)

1. The “Company” only acts as a broker for “NFT” transactions and is not a party to such transactions. Therefore, the “manufacturer” or “seller” is responsible for “NFT” transactions, and the “Company” does not provide any representation or guarantees. However, if the “Company” is found to have clear intention or negligence which caused damages, the “Company” will compensate for the damage.

2. The “Company” must review the security of published and registered works, such as whether or not they contain malicious code, in order to post safe “NFT” works.

3. If the “Company” discovers an element that affects security, such as malicious code, after reviewing the security in accordance with Paragraph 2, the “Company” may take immediate measures, such as refusing issuance or suspending sales.

Article 4 (Cost of NFT Service)

"Members" are responsible for the costs of each item when using the "NFT" service.

1. Minting costs are incurred when registering "NFT" in the "NFT" marketplace (no cost is incurred when minting with KON).

2. A certain amount of copyright fee is paid to the " Creator " when the "seller" resells it on KONMARKET (the amount differs according to the Creator’s settings).

3. Transaction fees are incurred when trading in the "NFT" marketplace.

Article 5 (Rights of NFT Owners)

1. Holders of NFTs are granted only the right to use digital works linked to NFTs in accordance with the contents of "NFT Owner's Rights." NFTs do not confer intellectual property rights, including copyright and trademark rights, or specific rights such as portrait rights and merchandising rights, and holding NFTs only grants rights such as possession of digital works linked to NFTs or copyrights related to digital works.

2. "Rights of NFT owners" can only be exercised while legally holding NFTs, and "rights of NFT owners" are recognized by the holder of the NFT at the time of exercising the rights. If the NFT is transferred to another person, the member who transferred the NFT can no longer exercise the "NFT Owner's Rights." "Rights of NFT owners" may not be guaranteed to those who have received NFTs in a way that is not officially supported by the "Company" or in violation of relevant laws and regulations.

Article 6 (Prohibited Acts and Termination)

If a "Seller," "Buyer," or " Creator " engages in any of the following actions regarding "NFTs" traded on KONMARKET, digital works linked to "NFTs" issued/registered, or if applicable, the "Company" may take measures such as deletion, cancellation of authorship, restriction, and termination of service use:

1. Modifying, distorting, and selling the copyrighted original work

2. Issuing a separate "NFT" linked to digital works currently on sale

3. Abusing digital works by violating the rights of the "buyer" to acquire and register separate property rights

4. Planning and repeatedly trading with a specific person to abnormally fluctuate the price of "NFT"

5. Providing false or exaggerated information or slandering a specific person through a blockchain-related community, etc.

6. Members or Creators who register and publish "NFT" works must use a safe environment (PC, mobile) for posting separate from the "Company's" security review obligations under Article 3, Paragraph 3. After self-inspection, they must ensure that the work does not contain malicious code when registering.

In the case of each of the above, the "Company" may restrict service use and request an explanation. If the explanation is not completed within three business days or the same violation is committed three or more times, the use of the "NFT" marketplace service may be terminated.

Article 7 (Objection Related to Digital Works)

1. "Those who claim that their copyright or other rights have been infringed by NFTs distributed through the "NFT Marketplace" provided by the "Company" and the digital works linked to the NFTs (hereinafter referred to as "right claimants") can request the "Company" to stop using and distributing the NFT by providing an explanation of the facts.

2. "If the "Company" is requested to stop using and distributing NFTs according to Paragraph 1, it immediately suspends the exercise of "NFT owner's rights" for the NFTs, and the claimant, members who hold NFTs, and NFT issuers should be notified of this fact.

3. If the NFT issuer notified pursuant to Paragraph 2 requests the resumption of the use and distribution of the NFT while explaining that they have a legitimate right, the "Company" holds the claimant and the NFT with the request for resumption and the expected date of resumption. The "Company" will notify the member who holds the NFT of this fact and will resume the "Rights of NFT Owners" on the scheduled date. However, this is not the case if the claimant has notified the company that they filed a lawsuit against the NFT issuer's infringement before the scheduled resumption date.

4. If a third-party claims infringement of rights related to a specific NFT and related digital works or "NFT IP", the "Company" will suspend the provision of services, such as transaction brokerage of the NFT as set forth in this Article, and notify the claimant and "NFT issuer" without delay. The "Company" will endeavor to resolve the related dispute as soon as possible by arranging consultations between the claimant and the "NFT issuer" to resolve the issue. The Company will resume the intermediary of NFT transactions that have been suspended after the relevant dispute is settled. Even if the dispute between the NFT issuer and the claimant is not resolved, and the member holding the NFT suffers damage, the company is not responsible for it. However, if the damage is caused intentionally or negligently by the company, the company is liable within the scope set by the law.

Article 8 (Company's Disclaimer)

In case of disputes between a "seller" and a "buyer" or a " creator," the "company" shall not be held responsible except in cases where reconciliation is possible and where gross negligence or intentionality of the "seller," "buyer," or " creator " is confirmed.

Article 9 (Competent Court)

If a material dispute arises between the "Company" and a " creator " or "Seller" and "Buyer", the competent court shall be the court with jurisdiction over the location of the "Company".

Appendix

(Effective Date) These Terms and Conditions shall become effective as of February 24, 2023.