NFT Sales Contract
What is an NFT Sales contract? An NFT is basically a contract provided by Owner to transfer the NFT to a buyer. Download this NFT Contract for your reference
.docx (0.03 MB)
NFT's are booming and relatively new and since they are secured by the Ethereum blockchain, and no one can modify the record of ownership or copy/paste a new NFT into existence, the whole world starts to learn the benefits them. From small artists to Hollywood megastars, everybody is interested in creating, buying, and selling NFT's.
What is an NFT Sales contract?
An NFT is basically a contract, provided by the NFT owner to transfer the NFT to a buyer, asserting that this digital piece is the original and all the others are just copies (or “digital prints,” if we were to use a real-life analog), and therefore is complementary to the smart contract feature. It can also be used as terms and conditions for your website or NFT marketplace.
NFT stands for "Non-fungible token" which can be best describes as a commercial term for items that are not interchangeable with other items because they have unique properties. Consider art, collectibles, your furniture, a picture image file, or your laptop, or even real estate. NFTs are tokens that we can use to represent ownership of unique items. They can only have one official owner at a time and they're secured by the ETH blockchain. In theory, the scope for NFTs is anything that is unique that needs provable ownership. Non-fungible tokens are used to create verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms.
If you want to start dealing with NFT's, make sure to create a solid Terms and Conditions (T&C) to arrange the creation, displaying, buying, and selling NFTs. This Terms and Conditions of Service arranges the legal agreements between a service provider and a person who uses that service. The person must agree to abide by the Terms of service in order to use the offered service, for example by placing it as a disclaimer to be shown to the visitors of a website.
Some examples of NFTs that exist today:
- Unique digital artwork;
- Unique shoes in a limited edition;
- In-game item;
- Digital collectible;
- Domain name.
The following articles are included in this NFT Contract template:
- Use of the website
- User Content
- Intellectual Property
- Sale by Auction
- Your Ownership of the NFT's
- Data Protection
- Limitation of Services
- Account Closure
- Limitation of Liability
- Amendment and Variation
- Entire Agreement
- Notices and Communications
- Third-Party Rights
- Applicable law and Jurisdiction
Download this sample NFT Contract template for your reference.
The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained this site constitutes a solicitation, recommendation, endorsement, or offer by Bizzlibrary or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Clifford Owen - NZL
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Adrienne Macdonald - USA
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Sebrina Munoz - AUS
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