US Purchasers Exclusion
AML, KYC, and Regulatory Compliance
Limited Rights & Utility
Platform or Project-Specific Risks
Secondary Market Liquidity
Tax Implications and Financial Advice
Intellectual Property & Licensing
Lack of Endorsement or Guarantee
Modification of Disclosures
CYBERKONGZ’ GENKAI ART NFT EVENT: IMPORTANT LEGAL DISCLOSURES1
In addition to the general terms and conditions provided by Cyberkongz LLC (“CK”)2, the following important legal disclosures govern your participation in Cyberkongz’ Genkai (“GK”) Art NFT Event, and your participation, purchase, and/or possession of Cyberkongz Genkai Art NFT(s).
Please read these disclosures carefully and seek advice from a qualified legal professional or financial advisor if you have any questions or concerns.
By engaging with Cyberkongz Genkai Art NFT Event, you acknowledge your acceptance and understanding of these disclosures.
US Purchasers Exclusion.
Purchasers located in the United States are expressly excluded from participating in the Genkai Art NFT Event; The GK Art NFT is strictly classified as a form of digital art collectible, not intended to hold any value beyond its use and enjoyment as art and/or as may add creative utility and enjoyment in relation to CK Game(s).
AML, KYC, and Regulatory Compliance.
CK is committed to adhering diligently to all Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Anti-Terrorist Financing (ATF) regulations;
Any suspicious activity will be promptly reported to the appropriate authorities, as per CK's internal Suspicious Activity Report (SAR) protocol.
Limited Rights & Utility.
CK NFTs, including the GK Art NFT may confer limited rights or utility;
Participants must review and understand specific rights or utility associated with NFTs, including CK and GK NFTs, prior to purchasing and/or participating therewith.
Platform or Project-Specific Risks.
CK NFTs, including the GK Art NFT, are exclusively associated with Cyberkongz Art, Art and Adventure related Games, and Platform.
Participants should be aware of unique risks associated therewith, including but not limited to technological vulnerabilities, governance issues, legal and regulatory challenges, and/or potential changes in project direction.
Secondary Market Liquidity.
Participants should understand that reselling, trading, exiting and/or liquidating CK NFTs, including the GK Art NFT, on secondary markets may be subject to additional risks including but not limited to liquidity constraints, limited buyer interest, market volatility and/or manipulation, and negligible inherent value. Accordingly, participants must understand and accept the risk that one’s ability to exit and/or liquidate NFT, including CK and/or GK Art NFTs may be limited or precluded entirely.
Participants must be fully informed about the various risks associated with NFTs generally, and CK and GK Art NFTs specifically, including but not limited to monetary, legal, regulatory, and technical risks;
Participants should remain cognizant that CK provides NO warranties, technical audits of platforms or smart contracts, or other platforms and/or processes that are or may be involved with the GK Art NFT Event.
Participants should be aware that NFTs entail global-reach potential3 and involve decentralized technology, potentially subjecting them to additional legal and regulatory requirements and laws from other jurisdictions; Accordingly, participants should seek guidance from independent legal experts regarding participant’s particular jurisdiction(s).
Tax Implications and Financial Advice.
Participants should be aware that the acquisition, possession, and sale of CK NFTs, including the GK Art NFT, may have tax implications in their respective jurisdictions. It is essential to seek professional tax and financial advice regarding these potential tax liabilities before participating in the Genkai Art NFT Event or engaging in any CK and/or GK NFT-related Events.
Intellectual Property & Licensing.
CK NFTs, including the GK Art NFT, contain digital artwork and other creative assets protected by intellectual property rights and licensing agreements;
Participants must be fully aware of and adhere to the terms and conditions governing the use and display of said NFTs.
Lack of Endorsement or Guarantee.
Cyberkongz NFTs, including the GK Art NFT, are not endorsed or guaranteed by any central authority, including CK and GK platform creators;
The value, functionality, and longevity of Cyberkongz NFTs, including the GK Art NFT, depend solely on dynamics unrelated to the Cyberkongz and/or Genkai’s artistic purpose.
Participants should recognize that the market value of Cyberkongz and/or GK NFTs are subject to forces and variables beyond CK’s interest or ability or control and/or monitor and which may fluctuate independently of the platform's stated intentions or objectives. Examples include, but are not limited to economic or market fluctuations, NFT-related technologies, media, community support, industry sentiment, etc.
Participants must refrain from engaging in any prohibited uses of CK NFTs, including the GK Art NFT, including but not limited to illegal activities, fraud, misrepresentation, or any action that violates applicable laws, regulations, or the terms and conditions of the platform.
At Cyberkongz, we place utmost importance on compliance with all applicable laws and regulations, including AML, KYC, and ATF requirements. We are dedicated to protecting our community and ensuring a secure, transparent, and informed environment for all participants.
Participants are encouraged to educate themselves about NFTs, blockchain technology, and relevant best practices to enhance their understanding and safety in participating in Cyberkongz and/or Genkai related NFT Art Events.
Modification of Disclosures.
These disclosures are subject to change, and any modifications will be effective immediately upon posting. Participants are responsible for staying updated with the latest disclosures.
By participating in the Genkai Art NFT Event, acquiring GK NFTs, and/or participating in any Cyberkongz related event or game, you confirm that you have read, understood, and accepted these legal disclosures, as well as the general terms and conditions provided by Cyberkongz at https://www.cyberkongz.com/terms/terms-and-conditions
These disclosures explicitly establish that the GK Art NFT Event is a art-related event only;
By participating in and/or acquiring Genkai Art NFTs, you understand and confirm that you are doing so without any expectation of profits whatsoever, and for purposes related to the enjoyment of Cyberkongz-related art and digital collectibles and/or adventure-related events and games.
At Cyberkongz, we remain committed to fostering a safe and compliant ecosystem while promoting creativity and enjoyment within the Cyberkongz Community. Thank you for your attention to these important matters.
1 While the legal disclosures provided herein make every effort to provide robust and informative legal and regulatory guidelines, they do not do so comprehensively. Accordingly, individuals considering participation in the GK Art NFT Event are strongly encouraged to conduct their own, independent, and thorough research and not to rely solely on the information provided. Participants must also be aware that the disclosed information may differ based on legal, regulatory, and jurisdictional variations.
3 Notwithstanding ongoing efforts to comply with guidance, advisory notices and related updates regarding economic and trade sanctions such as those provided by OFAC, et al.