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NFT

NFT Webpage service terms and condition

Chapter 1. General Provisions

Article 1. Purpose

The Terms and Conditions (hereinafter “Terms & Conditions”) govern the use and stipulate the rights, obligations, responsibilities, and other requirements of Hyundai Metamobility Universe (hereinafter the “Company”) and the user (defined in Article 2 of the Terms & Conditions) when the user uses any of the services provided by the Company on the website https://www.hyundai.com/worldwide/en/company/metaverse/nft (Previous website: https://www.hyundai-nft.com/) (hereinafter the “Company’s website”).

Article 2. Terms

The definition of the terms used in the Terms & Conditions are described in the subsequent subparagraphs. Interpretation of terms not defined in each of the following subparagraphs is in accordance with applicable laws, the Company’s Privacy Policy, and supplementary guidelines and commercial practices set or determined afterwards by the Company.

  • 1. “User” means any person who visits the Company’s website regardless of purpose, time, place, access method, or access route, and uses the services provided by the Company’s website.
  • 2. “NFT” means Non-Fungible Token. NFTs are digital assets stored on a blockchain and (i) issued with unique ID and assigned metadata information for software, texts, images, videos, music and other “original works”, and (ii) grants the corresponding NFT owner with certain rights (hereinafter “NFT ownership rights”) pertaining to the aforementioned “original works”.
  • 3. “Original works” means the original content in any form or means, including but not limited to software, text, images, videos, music, and other materials used in NFT minting such as tangible goods, intangible goods, and data.
  • 4. “NFT ownership rights” means the informed rights granted when the user first purchases the Company’s NFTs through the Company’s website. “NFT ownership rights” only represents the right to use the “original works” related to the NFT within certain limits, and does not mean acquiring the right to ownership of the actual “original works”, intellectual property rights including copyright or other related rights, and therefore the contents of “NFT ownership rights” may differ for each NFT.
  • 5. “Digital asset wallet” is a digital asset address or account used by the user or third parties to trade or store digital assets externally from the Company’s website. The Company does not provide a separate digital asset wallet service for the user, and the digital asset wallet is not owned, controlled, or operated by the Company.
  • 6. “First purchase” means the user paying a set price and gas fee for the NFT they want to mint from the Company and acquiring the NFT ownership rights when the NFT is minted and transmitted to the user's personal digital asset wallet.

Article 3. Disclosure, effect, and amendments of the Terms & Conditions

  • ① The Company posts the Terms & Conditions on the Company’s website so that the user can easily check the contents of the Terms & Conditions.
  • ② It is assumed that the user using the services of the Company’s website or attempting to purchase the Company’s NFTs from the Company’s website fully agrees to the Terms & Conditions, and users who do not agree to all or part of the Terms & Conditions are restricted from using or purchasing the Company’s NFTs.
  • ③ The Company may revise the Terms & Conditions at any given time when required, within the limits of relevant laws and regulations.
  • ④ In the case of the Company revising the Terms & Conditions, the Company will notify the contents of the amendments, the reason for the amendments, and the effective date of the revised Terms & Conditions on the Company’s website 10 days prior to the effective date of the revised Terms & Conditions. However, if the Terms & Conditions are amended unilaterally unfavorable to the user, this will be notified 30 days prior to the effective date of the revised Terms & Conditions.
  • ⑤ Despite the fact the Company has clearly notified about the amendments to the Terms & Conditions in accordance with the preceding paragraph, that users can raise objections up to the day before the effective date of the Terms & Conditions, and that it will be assumed the user has agreed to the revised Terms & Conditions if the user does not clearly express their rejection before the effective date; it will be assumed that the user has agreed to the revised Terms & Conditions if the user does not clearly express their rejection before the effective date.
  • ⑥ If the user does not agree to the revised Terms & Conditions, the user may express their rejection to the Company and terminate the contract for use of the Company’s website service.

Chapter 2. Provided Services

Article 4. Provided services of the Company’s website

  • ① The Company may provide the services in each of the following subparagraphs to users through the Company’s website.

    • 1. First purchase of NFTs issued by the Company
    • 2. Posting about general information of NFTs issued by the Company
    • 3. Posting of future business directions and such for NFTs issued by the Company
  • ② Transaction details according to the service described in subparagraph 1 of the preceding paragraph are managed and verified through the Ethereum network operated by a third party, and not the Company. The user understands and agrees when participating in the first purchase of NFTs issued by the Company, the address of the user's digital asset wallet and transaction details are publicly displayed on the aforementioned network.
  • ③ The Company may continuously provide information other than the user's personal information pertaining to the first purchase NFTs described in subparagraph 1 of paragraph 1 on the Company’s website.
  • ④ The Company may operate the Company’s website by integrating it with other websites operated by the Company when required.

Article 5. Provision, change, and suspension of Services

  • ① The Company may specify the scope of service provision, available hours, frequency, and so forth, and users may use the service according to the conditions specified by the Company.
  • ② The Company may permanently or temporarily suspend or change all or part of the services for any of the following reasons in the subparagraphs below. In principle, the Company notifies users prior to the suspension or change of services, but if there are unavoidable reasons that make it difficult to notify in advance, the Company may notify ex-post.

    • 1. When it is necessary to manage or change the contents, operation, or technology of the services for stable provision of the services.
    • 2. When it is impossible to provide normal service due to maintenance, inspection, replacement, or breakdown of information and communication facilities, or when maintenance and inspection are required to provide service.
    • 3. When it is suspected that an illegal act using the Company’s website or an illegal act related to the Company’s services has occurred or is likely to occur.
    • 4. When a user breaches the Terms & Conditions or the Company’s operation policy.
    • 5. When providing services is difficult due to administrative issues in the Company’s business operations.
    • 6. When it is difficult to provide normal services due to natural disasters, failures caused by external network problems unrelated to the Company, unexpected network congestion due to excessive usage, or regulations or restrictions of other laws or policies.
  • ③ The Company is not liable for any changes that occur to the user due to the suspension or change of all or part of the services provided by the Company’s website.

Article 6. Restriction of Services

  • ① The Company may restrict the user’s use of service for the safety and reliability of the Company’s website service in any case described in the following subparagraphs.

    • 1. The user is identified as an underaged minor according to civil law and has not received authorized legal consent from their legal representative to use the Company’s services.
    • 2. The user is the citizen of a specific country that restricts use of the Company’s services.
    • 3. The user has violated laws and regulations to use the Company’s services.
    • 4. The user has violated their obligations specified in the Terms & Conditions.
    • 5. The user has violated laws and regulations through hacking, fraud, or other illegal acts.
    • 6. The user is engaged in, or reasonably suspected of being involved in, money laundering, unfair trade, or other criminal activity related to the Company’s services.
    • 7. The user interferes with the Company’s normal service operations.
    • 8. When restrictions on the user's use of the service is requested by the court, investigative agencies, or other state agencies in accordance with relevant laws and regulations.
    • 9. When it is deemed necessary to take measures to prevent the occurrence or expected occurrence of other issues equivalent to those described in the above subparagraphs.
  • ② When intending to take measures to restrict the use of the service, the Company will notify or inform the user prior to restricting their use of service. However, in case of urgency or other unavoidable reasons that make it difficult to notify or inform the user in advance, the Company may take measures to place restrictions to the use of the service before notifying or informing the user.
  • ③ The user may file a complaint against the Company's service use restrictions according to the procedures set by the Company. The user may file the complaint to metaverselab@innocean.com, and must specify that the matter is pertinent to the “Hyundai NFT official site”.

Chapter 3. The Company’s and the user’s rights and obligations regarding the Company’s website

Article 7. The Company’s Obligations

  • ① The Company operates in compliance with relevant laws and regulations and makes the best effort to provide continuous and stable service.
  • ② The Company aims to protect the user’s personal information in accordance with relevant laws, such as the Act on Promotion of Information and Communications Network Utilization and Information Protection, and the Personal Information Protection Act. Relevant laws and regulations, and the separate Privacy Policy posted on the Company’s website are applied to the protection and use of personal information. However, the Privacy Policy does not apply to that beyond the Company’s limits of operations and management, such as linked external pages that are not created or provided by the Company.
  • ③ The Company provides services through secure information and communication facilities and systems for the user to safely use the Company’s website services.
  • ④ The Company has the required manpower and system to properly handle issues or complaints raised by the user regarding the use of the services, and when the issues and complaints are acknowledged as justifiable, the Company will dutifully process them while appropriately informing the user of the process and results via the Company’s website or otherwise.

Article 8. User’s Obligations

  • ① The user must comply with the applicable laws and the Terms & Conditions.
  • ② The user must continuously check revisions to the Company’s Terms & Conditions.
  • ③ The user must not do any of the acts described in the subparagraphs below:

    • 1. Using the Company’s website services as an underaged minor without legitimate authority in accordance with applicable laws.
    • 2. Changing the information posted by the Company.
    • 3. Transmitting or posting information other than the information posted by the Company.
    • 4. Using the Company’s website services for profit without the Company’s prior consent.
    • 5. Copying, storing, processing, distributing, or providing to a third party the contents of the Company’s Website service without prior consent from the Company beyond the scope permitted by the Terms & Conditions.
    • 6. Accessing the service through illegal means or causing server failure on the Company’s servers with overloading traffic or using automated means such as agents, scripts, spyware, toolbars, macros, and others without the Company’s prior consent, or interfering with the Company’s efficient service provision by sending false or fraudulent commands to the server.
    • 7. Breaching the Company’s or a third party’s intellectual property rights such as copyright.
    • 8. Defamation of the Company or a third party, spreading false information, or interfering with business operations.
    • 9. Collecting personal information of a third party and not the user.
    • 10. Acts that violate other laws and regulations or go against proper social customs and order.
  • ④ The user must immediately notify the Company if their rights or personal information is leaked or disclosed to a third party while using the Company’s service. The Company is not liable for any damage caused by the user's failure to notify the Company of the above.

Chapter 4. First purchase of the NFTs issued by the Company

Article 9. Precautions when first purchasing NFTs issued by the Company

  • ① When the user first purchases NFTs issued by the Company through the Company’s website, all financial transactions will be conducted through the Ethereum network. The Company has no insight or control over these payments or transactions, and therefore the Company has no liability for any claims or damages that may arise as a result of other transactions that the user engages or conducts via the Ethereum network.
    The user must directly pay all transaction fees (e.g. gas fee) required for the purchase of NFTs issued by the Company, and transaction fees are automatically paid to a network of computers running the decentralized Ethereum network. The Company is not responsible for any problems that may arise from the user's failure to pay or the excessive payment of transaction fees.
  • ② The digital asset wallet must be connected by the user in advance and support the connection with the service handling the first purchase of the NFTs issued by the Company. The user is solely responsible for confirming whether the digital asset wallet and the Company website can be connected, and the Company has no liability regarding any problems that arise as a result of the user connecting a digital asset wallet that does not support the connection to the first purchase service of the NFTs issued by the Company.
  • ③ The user must fully understand the Terms & Conditions, the Company's general guidelines regarding the first purchase of NFTs issued by the Company, and notices on the first purchase methods before participating in any transactions. The Company has no liability in any damage caused by the user's lack of knowledge of these matters thereof.

Article 10. NFT Ownership Rights

  • ① All rights pertaining to the original works of NFTs issued by the Company are reserved by the Company.
  • ② NFTs issued by the Company are transferred to the first purchaser's digital asset wallet simultaneously with minting. The first purchaser of NFTs issued by the Company can freely trade them on other NFT trading platforms. However, the Company has no responsibilities in any management, supervision, or guidance regarding transactions between users, or between users and third parties which occur after the minting.
  • ③ The owner of NFTs issued by the Company is only granted the non-transferable, non-exclusive right to use the original works connected to the NFTs apart from the NFTs issued by the Company. NFTs issued by the Company do not indicate the actual intellectual property rights including copyright and trademarks of original works, or other specific rights such as portrait rights, publicity rights, and commercialization rights. Owning NFTs issued by the Company does not grant the user possession or acquisition of any intellectual property rights or other specific rights of the original works connected to the NFTs.
  • ④ NFT ownership rights apply only during the period the user legitimately owns the NFT, and if at any time the user transfers the NFT, they may no longer exercise their ownership rights. NFT ownership rights are only acknowledged when the user has actual ownership of the NFT at the time of exercising their rights, and NFT ownership rights may not be granted to those who acquire NFTs issued by the Company by violating applicable laws, or by other means not approved by the Company.
  • ⑤ All rights regarding original works not expressly granted to the owner of NFTs issued by the Company in the Terms & Conditions are reserved by the Company, and the NFT owner is prohibited from using the Company’s or Company website’s name, various marks and logos including the Company’s trademark, products, service names, designs, and slogans without the prior consent of the Company.

Article 11. Withdrawal of subscription

When a user purchases NFTs for the first time on the Company’s website, the action is recorded and managed on the Ethereum network, which renders the withdrawal of the subscription impossible due to its nature. It is presumed the user acknowledges and agrees that withdrawal of subscription is impossible after the act of first purchasing NFTs, and the Company has no obligations whatsoever to respond to any request for withdrawal of subscription from the user for the first purchase of NFTs.

Article 12. Further guidelines for NFTs issued by the Company

  • ① The user must not engage in any of the activities related to NFTs issued by the Company and the connected original works described in the following subparagraphs.

    • 1. Modifying or distorting original work and posting it.
    • 2. Using original works for commercial purposes, such as advertising products or services of users or third parties without prior consent from the Company.
    • 3. Creating a separate NFT derivative of the original work.
    • 4. Registering or acquiring separate intellectual property rights by abusing the right to use the original works acquired pursuant to Article 10.
  • ② The Company is not liable for the user infringing the rights of the Company or a third party by committing acts as described in paragraph 1.

Chapter 5. Supplement

Article 13. Guarantee of representation and assumption of risk

  • ① The user hereby understands, accepts, and acknowledges that there are risks involving NFTs issued by the Company such as described in the following subparagraphs.

    • 1. The intrinsic value of NFTs is controversial, and the intrinsic value of NFTs may become redundant at any time. The market and prices for blockchain assets are incredibly volatile and are subject to fluctuations that may also affect NFT prices and value.
    • 2. The safety and integrity of the blockchain and digital asset wallet are not guaranteed, and there may be security risks to the digital asset wallet and NFT due to viruses and malicious codes, internet connection failures, voice phishing and smishing, and various other issues.
  • ② All services provided by the Company and the Company’s NFT website may be changed at any time in accordance with applicable laws, government policies and regulations, administrative dispositions, and so forth. The Company does not guarantee the value, legality, completeness, stability, or non-infringement of the rights of others of the NFTs issued by the Company. The Company is not liable for any failure or loss of profit based on the user’s expectations from the use of the services.
  • ③ The Company may provide third party services or information via links, in-app pages, or other similar methods on the Company’s website to provide general information, market price, and other information of the NFTs issued by the Company. The Company will cite the sources for the services or information of third parties which are beyond the Company’s limits of operations and control. Using the service or information of a third party whose source is cited by the Company is solely between the user and the third party, and the Company does not control or approve any third party service or make any warranties thereof. The Company is not liable for the accuracy or reliability of any third party information, data, or facts provided as reference for the user’s use of services. The Company does not take responsibility for any liability or damage caused by the user’s use of third party services or information that the Company has provided.
  • ④ The Company does not make any direct or indirect contract or guarantee for any matters not specified in the Terms & Conditions regarding the service within the limits of laws and regulations.

Article 14. Compensation for damages

  • ① The Company is responsible for compensation for damages caused to users due to the Company’s negligence. However, liability of the Company may be reduced or exempted in each of the cases described in the subparagraphs below.

    • 1. In the event of damage due to the user failing to check the Terms & Conditions or the Company's guidelines, or failing to understand after checking the Terms & Conditions.
    • 2. Increase of damages due to the user failing to notify the Company despite the user’s knowledge of the cause of damage or the fact that the damage has occurred.
    • 3. When the Company's actions were made due to the user providing false or incorrect information to the Company.
    • 4. The user violating relevant laws and regulations or the Terms & Conditions.
    • 5. If there is attributable negligence on the part of the user in relation to the occurrence of other damages.
  • ② The user is liable for damages caused to the Company that occurs as a result of the member’s negligence and must compensate for the aforementioned damages.

Addendum

The Terms & Conditions are effective from May 9th, 2022.

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