QNFT License 1.0.0

 

Summary

Generally speaking, this license provides the new owner of an NFT with broad and exclusive intellectual property rights to the digital asset associated with that NFT.

1. Introduction

This license agreement is attached to a specific non-fungible token ("the NFT") and its associated digital asset ("the Asset"), and defines the intellectual property rights and usage terms between three legal parties:

  • a party acquiring the NFT ("New Owner"),
  • a party who has relinquished the NFT ("Prior Owner"), and
  • the original creator and licensor of the NFT and the Asset ("Creator").

For the purposes of this license, a New Owner may gain the NFT through purchase, gift, or other means; and a Prior Owner may relinquish the NFT through sale, gift, or other means.

To the extent possible, this license is automatically and immediately in effect upon receipt of the NFT. At that time, the New Owner fully accepts the terms of this agreement: all rights, limitations, and responsibilities described below, including those that apply upon relinquishing the NFT. If the New Owner cannot accept the terms, they are obligated to sell, gift, or otherwise transfer ownership of the NFT to another party willing to accept these terms at the earliest possible opportunity.

2. The New Owner

By acquiring the NFT, a New Owner gains the following exclusive intellectual property rights to the Asset:

  • the exclusive right to transmit, convey, or display the Asset digitally;
  • the exclusive right to make, print, sell, or distribute likenesses or non-NFT copies of the Asset, whether digitally or physically, even commercially, without limitations on geography, industry, medium, format, context, or method of distribution; and
  • the exclusive right to legally pursue infringement of this exclusivity by others, including by a Prior Owner.

The New Owner's rights are limited as followed:

  • The rights described above are terminated at such time as the New Owner sells, gifts, or otherwise gives up the NFT, an action which converts the New Owner into a Prior Owner, as described below.
  • The New Owner does not gain the right to create derivative copies of the Asset. However, the New Owner can make technical modifications to Asset likenesses as strictly necessary to exercise the licensed rights described above (for example, scaling an image to fit printed material).
  • The New Owner does not gain the right to mint new NFTs based on the likenesses of the Asset without the express written consent of the Creator.
  • The New Owner does not gain rights to the methods, processes, algorithms, programming, source code, tools, decision-making, or any other aspects of the production of the Asset.

If the Creator or a Prior Owner has already made, printed, sold, or distributed likenesses or non-NFT copies of the Asset prior to the New Owner's acquisition of the NFT, those likenesses and copies are considered pre-existing and are not an infringement of this license.

3. The Prior Owner

By selling, gifting, or otherwise giving up the NFT, a New Owner becomes a Prior Owner, and surrenders the rights to the Asset they previously gained. As a result, the Prior Owner is responsible to cease transmitting, conveying, or displaying the Asset digitally.

In addition, if a Prior Owner has previously entered into efforts to make, sell, or distribute likenesses or copies of the Asset, whether digitally or physically, they must either terminate these efforts at the earliest possible time, or negotiate in writing with the New Owner about the continuation of these efforts. A New Owner is not obligated to permit a Prior Owner to continue such efforts; a New Owner now has all of the exclusive rights, and the Prior Owner has none.

The Prior Owner may not offer or impose any additional or different terms or conditions upon the use of the Asset to a New Owner beyond this license.

4. The Creator

Irrevocably, the Creator of the Asset retains ownership of the original copyright of the Asset.

Prior to the first sale of the NFT, the Creator retains all the rights of the New Owner. Upon the first sale of the NFT, the Creator relinquishes all of these rights, as a Prior Owner would, with one exception: irrevocably, the Creator retains the right to display a digital likeness of the Asset on the Creator's website for noncommercial purposes.

5. Enforceabilities, Warranties and Liabilities

The parties involved do not have to comply with a restriction of the license where their use is permitted by an applicable exception or limitation. For the avoidance of doubt, this license does not, and shall not be interpreted to, reduce, limit, restrict, or impose conditions on any use of the NFT or the Asset that could lawfully be made without permission under this license.

To the extent possible, if any provision of this license is deemed unenforceable, it shall be automatically reformed to the minimum extent necessary to make it enforceable. If the provision cannot be reformed, it shall be severed from this license without affecting the enforceability of the remaining terms and conditions.

No warranties are given by this license. This license may not give you all of the rights or permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.

The Asset is offered as-is and as-available, and none of the parties involved make any representations or warranties of any kind concerning the Asset, whether express, implied, statutory, or other. This includes, without limitation, warranties of title, merchantability, fitness for a particular purpose, non-infringement, absence of latent or other defects, accuracy, or the presence or absence of errors, whether or not known or discoverable. Where disclaimers of warranties are not allowed in full or in part, this disclaimer may not apply.

To the extent possible, in no event will the Creator, any New Owner, or any Prior Owner be liable each other on any legal theory (including, without limitation, negligence) or otherwise for any direct, special, indirect, incidental, consequential, punitive, exemplary, or other losses, costs, expenses, or damages arising out of this license or use of the Asset, even if the parties involved have been advised of the possibility of such losses, costs, expenses, or damages. Where a limitation of liability is not allowed in full or in part, this limitation may not apply.

The disclaimer of warranties and limitation of liability provided above shall be interpreted in a manner that, to the extent possible, most closely approximates an absolute disclaimer and waiver of all liability.

Nothing in this license constitutes or may be interpreted as a limitation upon, or waiver of, any privileges and immunities that apply to the parties involved, including from the legal processes of any jurisdiction or authority.

Nothing in this license constitutes or may be construed as permission to assert or imply that there is any connection, endorsement, sponsorship, or status between the Creator, any New Owner, and any Prior Owner, beyond the transfer of rights outlined herein.

6. Miscellaneous

The text of this QNFT License v1.0.0 is released under the Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0) license, which can be found at https://creativecommons.org/licenses/by-sa/4.0/. The QNFT License v1.0.0 may be copied and redistributed in any medium or format, and may be edited, transformed, and adapted for any purpose, even commercially. However, any distributed or adapted licenses must give appropriate credit, and indicate if changes were made. It may be credited in any reasonable manner, but not in any way that suggests the licensor endorses the new adaptation or use. Additionally, distributed or adapted licenses must be released under the same Creative Commons license as the original.

This QNFT License v1.0.0 includes and adapts parts of the Creative Commons Attribution-NoDerivatives 4.0 International (CC BY-ND 4.0) license, which can be found at https://creativecommons.org/licenses/by-nd/4.0/, which itself has been released to the public domain. No endorsement by Creative Commons is intended or implied by this adaptation. Creative Commons is not a party to this license.