US Purchasers Exclusion
Limited Rights & Utility
Platform or Project-Specific Risks
Market Liquidity Risks
Tax Implications and Financial Advice
No Endorsement or Guarantee
Intellectual Property & Licensing
Ownership and Intellectual Property (“IP”)
SAGA Submission Process
Character Narration and Traits
Transfer of Ownership and SAGA Opt-Out for Successive Owners
CyberKongz® GENKAI AND SAGA PROJECT: IMPORTANT LEGAL TERMS AND DISCLOSURES1
Welcome to CyberKongz® Genkai and SAGA Projects. These terms govern participation in CyberKongz® Genkai, the trade and ownership of Genkai Art NFTs, and related events and activities, including the Genkai Public Story Project, collectively known as "SAGA."
These terms are supplementary to CyberKongz® Terms and Conditions2 and must be read in conjunction with those general terms.
By interacting or participating with CyberKongz® Genkai, Genkai Art NFTs, SAGA, and / or related projects and events, you confirm your understanding and acceptance of the following additional terms and disclosures. Please read these disclosures carefully and seek advice from a qualified legal professional or financial advisor if you have any questions or concerns.
- Please see CyberKongz General Definitions at: https://www.cyberkongz.com/terms/terms-and-conditions#definitions
- Genkai: Genkai is CyberKongz’ flagship collection of anime‑inspired collectibles imbued with unique characteristics within the CyberKongz ecosystem.
- SAGA: The SAGA Project (“SAGA”) is a community-driven narrative and storytelling experience shaped and propelled by the contributions of CyberKongz®, the CyberKongz® community, and Genkai NFT holders.
Legal and Regulatory Disclosures:
US Purchasers Exclusion.
- The purchase by US citizens or from within the United States is strictly prohibited.
- All CyberKongz® NFTs, including Genkai NFTs are digital art collectibles without inherent value, monetary or otherwise, beyond use and enjoyment as art and/or as may add creative utility and enjoyment in relation to CyberKongz® and the CyberKongz ecosystem.
Limited Rights & Utility.
- CyberKongz® NFTs may confer limited rights.
- Users considering participation must review and understand specific rights or utility associated with NFTs, including CyberKongz® NFTs and related projects and events prior to purchasing NFTs and/or participating herewith.
- CyberKongz® LLC 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 CyberKongz® internal Suspicious Activity Report (SAR) protocol.
Platform or Project-Specific Risks.
- Participants must be aware of unique risks including but not limited to technological vulnerabilities, governance issues, legal and regulatory challenges, and/or potential changes in project direction.
Market Liquidity Risks.
- Participants should understand that reselling, trading, exiting and/or liquidating CyberKongz® NFTs, including the Genkai 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.
- Participants must understand and accept the risk that one’s ability to exit and/or liquidate NFT, including CyberKongz® and/or Genkai Art NFTs may be limited or precluded entirely.
- 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;
- Participants are advised to seek professional 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 CyberKongz® NFTs, including the Genkai Art NFTs, 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 CyberKongz® and/or Genkai NFT-related Events.
- Participants must be fully informed about the various risks associated with NFTs generally, and CyberKongz® and Genkai Art NFTs specifically, including but not limited to monetary, legal, regulatory, and technical risks;
- Participants should remain cognizant that CyberKongz® provides NO warranties, technical audits of platforms or smart contracts, or other platforms and/or processes that are or may be involved with the Genkai Art NFT Event.
No Endorsement or Guarantee.
- CyberKongz® NFTs, including the Genkai Art NFT, are not endorsed or guaranteed by CyberKongz® LLC or any central authority.
- The value, functionality, and longevity of any CyberKongz®-related NFTs depend on a myriad of market dynamics outside the scope and influence of CyberKongz®'s mission and operations.
- Market forces that can affect the valuation of CyberKongz® and Genkai NFTs are beyond CyberKongz®’s capacity to control or monitor and may include, but are not limited to, economic trends, technological advancements within the NFT space, media coverage, community engagement, and general industry sentiment.
- Participants should be aware that these forces may cause fluctuations that occur independently of CyberKongz®’s platform or strategic intentions.
Intellectual Property & Licensing.
- Participation requires strict adherence to the intellectual property rights and licensing agreements pertaining to NFTs generally,and to CyberKongz® NFTs specifically, including but not limited to Genkai NFTs.
- Engaging in illegal activities or violations of laws, regulations, and/or terms and conditions of the CyberKongz® platform, including through NFT use, is strictly prohibited.
- CyberKongz® prioritizes legal and regulatory compliance and transparency. Staying informed and updated with regulatory standards is vital to responsible participation, and strongly advised.
- Participants are encouraged to self-educate on NFTs, blockchain technology, and related matters.
- Terms, Conditions, and legal disclosures are routinely updated and/or changed. It is the participant's responsibility to stay informed and abreast thereof.
SAGA Project Additional Terms and Conditions:
Welcome to the SAGA Project, a community-driven narrative experience by CyberKongz®. By submitting your Genkai NFT for potential inclusion in the SAGA Project, you are engaging with a unique storytelling experience that is shaped and propelled by the contributions of the CyberKongz® community. These terms define the scope of participation, outline the rights and responsibilities of all parties, and ensure that your involvement in the SAGA Project is in harmony with the overarching ethos of the CyberKongz® community. Your voluntary submission of a Genkai NFT signifies your understanding and acceptance of the following additional terms and conditions intended to foster a creative and inclusive environment for all:
Ownership and Intellectual Property (“IP”).
- Ownership of NFTs: Genkai NFT holders retain full ownership of their respective NFTs regardless of their participation in the SAGA Project. This ownership is acknowledged and respected by CyberKongz® LLC, which does not assert any ownership claim over the individual Genkai NFTs themselves.
- Intellectual Property Rights of SAGA Content: While individual NFT owners hold their respective Genkai NFTs, CyberKongz® LLC exclusively maintains all intellectual property rights to any SAGA-related content. This includes, but is not limited to, narratives, depictions, derivative stories, distinctive characteristics, and any other intellectual creations or contributions that arise from or are connected with the SAGA Project. These IP rights extend to any engagement, adaptations, or developments that occur as a result of the SAGA Project and are integral to its unfolding and expansion.
- IP Rights in Derived Content: Participants understand and agree that by engaging with the SAGA Project, any new content, stories, attributes, or related material that are created, contributed to, or derived from the Genkai NFTs and the SAGA Project participation will be the exclusive property of CyberKongz® LLC. This encompasses any material that may be developed through community interaction, collaborations, or as a consequence of the Genkai NFTs' involvement in the SAGA narrative.
- Clear Distinction of Rights: It is essential for participants to understand the clear distinction between their ownership of the Genkai NFT and the separate IP rights held by CyberKongz® LLC. The latter exclusively retains all creative control and legal rights over the content associated with or generated by the SAGA Project.
- Licensing and Use: CyberKongz® LLC grants Genkai NFT owners a non-exclusive, royalty-free license to use, display, and enjoy their NFTs within the guidelines of the CyberKongz® terms and conditions and the broader CyberKongz® ecosystem. This includes any additional rights or permissions that may be necessary for participants to utilize their NFTs in relation to the SAGA Project without infringing on the IP rights of CyberKongz® LLC.
SAGA Submission Process.
- To participate in the SAGA Project, Genkai NFT holders must submit their Genkai NFT’s according to instructions provided by CyberKongz®. Whether your Genkai NFT is included in the SAGA project, however, is subject to approval by the CyberKongz® community via a “Public Voting” system.
- There is no obligation for Genkai NFT holders to submit their NFTs.
- A public voting system will determine which of the submitted Genkai NFTs are incorporated into the SAGA Project and related stories. In the unlikely event that the outcome of voting results in a tie, the matter will be settled by and at the sole discretion of CyberKongz® LLC.
Character Narration and Traits.
- Character Attributes: Upon inclusion of your Genkai NFT in the SAGA project, certain character attributes or traits may be ascribed to your Genkai NFT. This occurs for the sake of storytelling only, and is not intended to attribute or reflect any real characteristics of the Genkai NFT, or its owner .
- Reputational Impact: Upon inclusion of your Genkai NFT in the SAGA project, and according to the specific character attributes and narrative developments, your Genkai NFT may incur reputational impacts that can be positive and or negative. While unrelated to real-life, certain SAGA-related reputational characteristics associated with your Genkai NFT may potentially influence your reputation or standing within the CyberKongz® Ecosystem and Community.
Transfer of Ownership and SAGA Opt-Out for Successive Owners.
- Successive owners of Genkai NFTs have the right to request opt out of future SAGA Project participation.
- Opt-out requests are to be directed to CyberKongz® at [email protected] and are subject to approval at CyberKongz® LLC’s discretion.
- Previous SAGA participation is not reversed upon opting out.
By participating in the SAGA Project, NFT owners acknowledge and agree to these terms regarding ownership and intellectual property rights, which are designed to ensure a collaborative and creative environment within the CyberKongz® community while safeguarding intellectual property and ownership rights, and the creative expressions of CyberKongz® and its community and initiatives. Participation in the SAGA Project is voluntary and complimentary, with no monetary investment required. It should not be construed as an investment or tied to any expectation of profit, aligning with CyberKongz®'s compliance and regulatory adherence policies.
Your engagement with the SAGA Project signifies an understanding and consent to these terms, which encompass the general terms and conditions provided by CyberKongz® at https://www.cyberkongz.com/terms/terms-and-conditions
Continued use of the CyberKongz® platform, participation in its events, or engagement with CyberKongz® Platform, Genkai Art NFTs and / or SAGA Project constitutes an acknowledgment and acceptance that the terms on the website at the time of such use or participation are binding. In the event of any discrepancy or inconsistency between the provisions of CyberKongz®'s General Terms and Conditions and the Genkai Art NFT and SAGA Project Specific Terms and Conditions, the terms and conditions that are most favorable to maintaining the integrity and enforceability of the intellectual property rights and limiting the liability of CyberKongz® LLC shall prevail. By submitting your Genkai NFT, you accept the nuances of the SAGA Project, including the subtleties of ownership, intellectual property, character attributes, and potential reputational impact that participation may entail.
It is important to note that CyberKongz® terms and conditions are subject to regular updates. All users, including NFT holders and participants in CyberKongz® projects or events, bear the responsibility of remaining informed about these changes.
Your continued use of the CyberKongz® Platform or participation in its events reaffirms your commitment to understanding, accepting, and observing these terms, as well as the general terms governing CyberKongz®'s digital landscape.
If you have any questions or comments about these Terms and Conditions, please contact us at [email protected] or through our Discord or Twitter channels.
Thank you for choosing CyberKongz® as your destination for digital art, entertainment, gaming, and global conservation via blockchain. We hope you enjoy your experience on our platform and look forward to seeing you in the CyberKongz® community!
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. Individuals considering participation in CyberKongz® related NFTs and events 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.