Terms and Conditions (“T&Cs”)
Last updated: (September 2022)
INFTE (“INFTE” or “Platform”) is operated by INFTE Cayman Limited (hereinafter referred as “INFTE”, “we” or “us”), whose registered office is at 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands.
INFTE is a platform that allows users to purchase, sell or otherwise trade redeemable non-fungible tokens (“NFTs”) implemented on the blockchain using smart contracts which represents an ownership of a tangible redeemable item (“Redeemable Item”) that are stored by INFTE in a secured physical facility. Owner of the NFT shall, subject to the terms of these T&Cs, have the right to redeem the corresponding Redeemable Item by having the Redeemable Item delivered to the owner of the NFT from our facility. We offer this Platform, including all information, tools and services available on the Platform to you, the user, conditioned upon your acceptance of all terms, conditions, policies and notices stated herein.
By visiting our Platform, you agree to use our services on the Platform (“Services”) and agree to be bound by these T&Cs, including those additional terms and conditions and policies referenced herein. These T&Cs apply to all users of the Platform, irrespective of whether you are a buyer, seller, or in any capacity.
Please read these T&Cs carefully before accessing or using our Platform. By continue accessing or using any part of the Platform, you agree to be bound by these T&Cs.
If you find yourself unable to agree to these T&Cs, you must immediately cease using the Platform, including using and/or accessing any Services available on the Platform.
We reserve the right to refuse to provide our Services or the use of our Platform to anyone for any reason at any time. You understand that any information provided by you may be transferred unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices.
The headings used in these T&Cs are included for convenience only and will not limit or otherwise affect these T&Cs.
All descriptions of our Services and fees are subject to change at any time without notice, at the sole discretion of us. We reserve the right to discontinue or modify any Services (or any part or content thereof) at any time without notice.
We shall not be liable to you or to any third party for any modification, price change, suspension, or discontinuance of the Services.
Registration. In order to purchase an NFT on our Platform, you must register an account with us on the Platform. You are wholly responsible to keep your login credentials confidential and secured. You shall be wholly responsible for all activities that occur on or in connection with your account and you agree to notify us immediately of any unauthorized access or use of your account. You acknowledge and agree that we are not responsible or liable for any damages, losses, costs and expenses, or liabilities related to any unauthorized access to or use of your account.
You agree to provide true, accurate, current, and complete information when prompted by us at registration. You must not impersonate others or otherwise provide false information when creating an account on our Platform. We have the right to suspend any party’s use of the Platform if we reasonably believe that the information provided to us at registration is not true, accurate, current or complete.
KYC Procedures. We may, at our discretion or otherwise required by any applicable laws (including but not limited to the applicable AML/CTF laws) or upon a request by a competent legal authority, to conduct “Know Your Client” checks before you can use our Services or wherever we are legally required to do so. Your use of our Services is subject to our completion of KYC procedures against you and you shall cooperate fully with us or our designated KYC service providers when prompted. You understand that if you fail to provide such KYC documents as requested, you may not be able to register an account on the Platform or to use any part of our Services.
Age. This Platform is intended for use by users that are least 18 years old (or the legal age as required in your jurisdiction) to use our Platform. By accessing the Platform or using our Services, you confirm that you meet this age requirement. If you are under 18 (or the relevant age in your jurisdiction that you are considered a minor), you have received permission from your legal guardian or parent before accessing the Platform or using our Services and that you legal guardian or parent shall also agree to these T&Cs (for themselves and on your behalf) before you access our Platform or using any of our Services. If you are a parent or guardian agreeing to the terms for the benefit of a minor, then you agree to, and accept full responsibility for, that minor's use of the Platform, including all financial charges and legal liability that he or she may incur.
Our Services allow you to sell, purchase or otherwise trade physical items that are sold together with its corresponding NFT. Your ownership of such NFT gives you the right to redeem the Item, subject to these T&Cs. Prior to the redemption of the corresponding Redeemable Item, we shall use all commercially reasonable degree of care to store the corresponding Redeemable Item at our secured storage facility at no additional costs to the issuer or the buyer. Notwithstanding the above, we reserve the right to impose storage fees to the issuer for certain types of items. If storage fees will be charged, we will notify the issuer in advance.
Administrative purpose only. You acknowledge and agree that we are not a broker, agent, employee or contractor of any parties and the Services offered are administrative only. Unless we state otherwise when we provide our Service to you (e.g. where we are named the direct seller of a particular NFT), we shall not be a party to any agreement or transaction that you make on the Platform (regardless of whether INFTE collects any fees from either party to the agreement or transaction on the Platform). We shall not be held liable for the any loss incurred by you in connection with any agreement or transaction or other amounts not received by you or from any amounts payable by you in connection with any transaction that takes place on a secondary marketplace or on any other third party sites.
Payment. All applicable payment made in connection with our Services shall be in United States dollars (“USD”) or in the accepted currency or cryptocurrency as displayed on each listing of the NFT on the Platform.
Any fiat currency payments via credit cards or other means will be directed to the payment provider, which we do not have affiliations with. You acknowledge and agree that we do not operate, own, or control the payment provider and your use of the services of the payment provider should be bound by the terms provided by that provider.
If cryptocurrencies are accepted, the cryptocurrency and its real-time price shall be displayed upon checkout. The cryptocurrency transaction may be handled through a payment gateway designated by us. If we engage the services of a payment gateway service provider, we do not have affiliations with such payment gateway providers and you acknowledge and agree that your use of such payment gateway is subject to the terms provided by that provider. The purchase price of the NFT in USD will be converted into the current value of the applicable cryptocurrency at the time your transaction is processed, pursuant to a source determined by us at our sole discretion. The conversion rate of the cryptocurrency shall only be valid during the timeframe as displayed in the payment gateway. Failure to complete the transaction within the designated timeframe may result in the change in actual purchase price due to fluctuations in cryptocurrency conversion.
We shall not be responsible for any exchange rate fees, contributions, payments, taxes or payment that are payable by you to any third party. All such costs shall be solely borne by you. The NFTs and the corresponding Redeemable Items are non-refundable and cannot be returned or exchanged.
Title and Ownership. The title and ownership to the NFT passes to you once you successfully complete the purchase of the particular NFT on our Platform. Your title and ownership to the NFT does not grant you automatic title to the corresponding Redeemable Item. Your ownership of the NFT only confers you with an option to exercise your right to redeem the corresponding Redeemable Item. The title and ownership to the corresponding Redeemable Item is passed to you upon your successful redemption of the Redeemable Item. When the NFT is redeemed and the Redeemable Item is delivered to you, the risk and responsibility for the Redeemable Item will be transferred to you from the time we deliver it to the address provided by you to us.
Redemption. Your ownership of the NFT does not entail an automatic ownership to the corresponding Redeemable Item. Each owners of NFTs (“Owner”) have the exclusive right to exercise the exclusive right to redeem the corresponding Redeemable Item and have it delivered to the owner or the designated recipient from INFTE’s facility. Upon the successful redemption of the NFT, the particular NFT will be burned. Upon the sale, transfer or burning of the NFT, or if your ownership of the NFT is relinquished for whatsoever reason, your rights and interests in the NFT and the corresponding Redeemable Item shall immediately and automatically be terminated. Certain Redeemable Item has a mandatory redemption date imposed. If a mandatory redemption date applies to your NFT, you must redeem your NFT on or before the mandatory redemption date. If you have not redeemed the NFT by the expiry date, you shall lose your rights to the corresponding Redeemable Item.
The redemption shall also be subject to full compliance of the applicable laws and regulations including but not limited to the laws and regulations of the shipping country and the destination country. Therefore, INFTE shall have the right to refuse shipping of the Redeemable Item if the destination country does not allow the importing of such goods. For each redemption of Redeemable Item, the Owner shall be responsible for the importation and customs law. The Owner (and/or where applicable, the recipient) shall also be responsible for all delivery costs, duties, taxes and all costs and expenses in relation to the redemption of the Redeemable Items. The redemption of certain Redeemable Item requires the verification of the Owner and/or the recipients’ age and other information that are statutorily required. By applying for a redemption of the NFT, you hereby represent and warrant that your redemption of the Redeemable Item shall be in compliance with all applicable laws and regulations and you have obtained all necessary permits or consents to import the Redeemable Item to the destination country. Upon a request by INFTE, you shall present valid supporting documents for us to verify your validity and eligibility to redeem the Redeemable Item.
Notwithstanding the full compliance of the applicable laws and regulation, if for whatever reason the Redeemable Item cannot be redeemed, the Owner retains full ownership of the NFT. If we are unable to ship the Redeemable Item to you because your shipping details are incorrect or out of date, or you refuse to accept delivery of the Redeemable Item, we will consider the Redeemable Item abandoned after thirty (30) days and we reserve the right charge for the reasonable expenses incurred due to your refusal to accept delivery.
The use of our Services shall be entirely at your own risk and we shall not be held responsible for any liabilities or losses in relation to such risks. You acknowledge and agree that your access and use of our Platform and our Services are subject to certain inherent risks which would include but not limited to the following:
The list of risks as set out above is not intended to be exhaustive. We do not give any investment, tax or legal advice or recommendations regarding the NFTs. You understand and agree that you are solely responsible for determining the potential value, suitability and appropriateness of these risks. Any information regarding the NFTs provided on our Platform do not constitute advice or recommendations of any sort and you shall not treat any such content as such. You acknowledge that you should conduct your own due diligence and obtain sufficient independent information to make an informed decision before using our Services.
We hereby grant you a limited, non-exclusive, non-transferable, revocable licence to access and use our Platform and the INFTE Content, subject to your full compliance with the following use policy and the acceptance of these T&C:
User Conduct. In your access to our Platform, you hereby agree not to:
Furthermore, you shall not use the Service:
We may (but are not obligated to) monitor and review your account, content, and conduct when you use our Platform. We shall have the right to suspend your access to the Platform or to take down your listings if we find your use of the Platform is in violation of these T&Cs.
Listings. If you list any NFTs for sale or for auction on our Platform, in supplement to Section 7 (Acceptable Use Policy), you hereby further agree to the following:
User Comments, Feedback And Other Submissions. If at our request, you send certain specific submissions or without a request from us you send creative ideas, suggestions, proposals, plans, or other materials, whether online, by email, by postal mail, or otherwise (collectively, ‘comments’), you agree that we may, at any time, without restriction, edit, copy, publish, distribute, translate and otherwise use in any medium any comments that you forward to us. We are and shall be under no obligation (1) to maintain any comments in confidence; (2) to pay compensation for any comments; or (3) to respond to any comments. We may, but have no obligation to, monitor, edit or remove comments or part of the comments that we determine in our sole discretion are unlawful, offensive, threatening, libellous, defamatory, pornographic, obscene or otherwise objectionable or violates any party’s intellectual property or these T&Cs.
You agree that your comments will not violate any right of any third party, including copyright, trademark, privacy, personality or other personal or proprietary rights. You further agree that your comments will not contain libellous or otherwise unlawful, abusive, or obscene material, or contain any computer virus or other malware that could in any way affect the operation of the Service or any related website. You may not use a false e-mail address, pretend to be someone other than yourself, or otherwise mislead us or third-parties as to the origin of any comments. You are solely responsible for any comments you make and their accuracy. We take no responsibility and assume no liability for any comments posted by you or any third party.
You acknowledge and agree that the intellectual property rights attached to each NFT and the corresponding Redeemable Item is solely owned by the issuer or the person who created the intellectual property that subsists in each NFT.
By purchasing a NFT and/or redeeming the corresponding Redeemable Item, the issuer grants you a worldwide, perpetual, exclusive transferable, royalty-free licence to use and display the NFT and the corresponding Redeemable Item for so long as you own the NFT and the corresponding Redeemable Item solely for the following purpose: (a) for your on personal, non-commercial use; or (b) as part of the INFTE marketplace and/or a secondary marketplace that permits the purchase, sale and display or storage of the NFT and/or the corresponding Redeemable Item.
For the avoidance of doubt, your purchase of the NFT or the redemption of the Redeemable Item shall not be regarded as an assignment or transfer of any intellectual property subsisting in such NFT or the Redeemable Item from the intellectual property owner to you. Your purchase or redemption does not confer you with the right to copy, duplicate, modify, reproduce, prepare derivative works, imitate any part of the NFT without permission of the intellectual property right owner.
We or our licensors own all right, title, and interest in and to the Platform and the “look and feel” of the Platform, including all software, ideas, processes, data, text, media, domain names, trade secrets, trademarks, logos, copyrights and all other intellectual property rights (“INFTE Content”). Our Platform and INFTE Content are each protected under Hong Kong and applicable international laws. You may not duplicate, copy, or reuse any portion of our intellectual property without our prior express written consent.
We do not intend to receive information that is confidential or proprietary. If you send us any ideas, suggestions, proposals, plan, or other material related to our business (individually, and collectively, “Feedback”), you acknowledge and agree that we have no obligation (including no obligation of confidentiality or privacy) with respect to that Feedback and we may use such Feedback in any way and for any or all purposes, with no compensation or attribution to you.
If you believe that materials on the Platform infringe your copyright, please send the following information to us via [email protected]:
We shall only process notices of alleged copyright infringement that is sent to our designated address and in the prescribed form.
If you believe that any of the content in the Services as posted on the Platform is in violation of your proprietary rights or is otherwise violating these T&Cs, please report to us via [email protected] For any complaints regarding copyright infringement, please refer to Section 10 (Intellectual Property). In relation to any complaints, conflicts, claims, or after sales inquiry or feedback in relation to our Services, please send us an email via [email protected] We shall as soon as practicable respond to such complaints, conflicts, claims or after sales inquiry. Our determination to any complaints, conflicts or claims shall be final.
We do not guarantee, represent, or warrant that your use of our Platform will be uninterrupted, timely, secure, or error-free. We do not warrant that the information and content as provided on the Platform will be accurate or reliable. You agree that from time to time we may remove the Platform for indefinite periods of time or cancel any of our Services offered at any time, without notice to you.
You acknowledge and agree that we shall, to the extent permitted by law, have no liability for any: (i) errors, mistakes, or inaccuracies of content; (ii) personal injury, property damage, or other harm resulting from your access to or use of our Platform; (iii) any unauthorized access to or use of our servers, any personal information, or user data; (iv) any interruption of transmission to or from our Platform; (v) any bugs, viruses, trojan horses, or the like that may be transmitted on or through our Platform; or (vi) any damages, losses, costs, expenses, or liabilities of any kind incurred as a result of any content or the use of any content posted or shared through our Platform.
You agree to the fullest extent permitted by law, to indemnify, defend and hold us and our parent, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns and employees, harmless from and against any actual or alleged claims or demands, including legal fees, of every kind and nature whatsoever (“Claims”), made by any third party due to or arising out of your breach of these T&Cs or the documents they incorporate by reference, or your violation of any law or the rights of a third party. You agree to promptly notify us of any Claims and fully cooperate with us in defending such Claims. You further agree that we shall have the right to intervene any proceedings in relation to the Claims and shall have control of the defence or settlement of any Claims. THIS INDEMNITY IS IN ADDITION TO, AND NOT IN LIEU OF, ANY OTHER INDEMNITIES SET FORTH IN A WRITTEN AGREEMENT BETWEEN YOU AND INFTE.
In the event that any provision of these T&Cs is determined to be unlawful, void or unenforceable, such provision shall nonetheless be enforceable to the fullest extent permitted by applicable law, and the unenforceable portion shall be deemed to be severed from these T&Cs, such determination shall not affect the validity and enforceability of any other remaining provisions.
The obligations and liabilities of the parties incurred prior to the termination date shall survive the termination of this agreement for all purposes.
These T&Cs are effective unless and until terminated by either you or us. You may terminate these T&Cs at any time by notifying us that you no longer wish to use our Services, or when you cease using our Platform.
If in our sole judgment you fail, or we suspect that you have failed, to comply with any term or provision of these T&Cs, we also may terminate out relationship with you at any time without notice and you will remain liable for all amounts due up to and including the date of termination; and/or accordingly may deny you access to our Services (or any part thereof).
The failure of us to exercise or enforce any right or provision of these T&Cs shall not constitute a waiver of such right or provision.
These T&Cs and any policies or operating rules posted by us on this Platform or in respect to the Service constitutes the entire agreement and understanding between you and us and govern your use of the Service, superseding any prior or contemporaneous agreements, communications and proposals, whether oral or written, between you and us (including, but not limited to, any prior versions of these T&Cs).
Any ambiguities in the interpretation of these T&Cs shall not be construed against the drafting party.
These T&Cs are drafted in English, and versions in any other language are for reference purposes only. In the event of conflict between the English version and any other translated versions of these T&Cs, the English version shall prevail.
These T&Cs and any separate agreements whereby we provide you Services shall be governed by and construed in accordance with the laws of Hong Kong SAR.
You and INFTE agree to resolve any disputes between you and INFTE through binding and final arbitration instead of through court proceedings. Any claim arising out of or relating to your use of our Platform, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to the use of our Platform shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be Hong Kong law. The seat of arbitration shall be Hong Kong. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.
You can review the most current version of these T&Cs at any time on this page. We reserve the right to update, change or replace any part of these T&Cs by posting updates and/or changes to our Platform from time to time. Any changes to these T&Cs will apply to orders placed or Services used on or after the effective date stated in these T&Cs. It is your responsibility to check this page periodically for changes. Your continued use of our Services or access to the Platform following the posting of any changes constitutes acceptance of those changes.
Questions about these T&Cs should be sent to us at [email protected]