Last updated: 25 November 2022
These terms and conditions set forth the agreement between Freedomverse Company Limited (“Freedomverse”, “Company”, “We”, or “us”) and you (“you” or “User”) to use our Freedom NFTs services (“Terms”) where you can mint the Freedom NFT and earn the certain benefits (“Freedom NFTs Services”)
By using the Freedom NFTs Services, you agree to be bound by the Terms and acknowledge that the Terms may be amended from time to time, at our sole discretion. We will update the latest version of these Terms on the Freedom Wallet application or our website. By continuing to use the Freedom NFTs Services, it shall be deemed that you have fully agreed to be bound by any updated or revised version of the Terms.
1. Freedom NFTs
Freedom NFT is the non-fungible token (NFT) built on the Ethereum Network by Freedomverse and minted upon the order of the User. To mint the Freedom NFT, you must a.) have the Freedom Wallet account and b.) have sufficient FDM in your Freedom Wallet (FDM is the utility token created by our group company). You can find the instructions on how to mint your Freedom NFT on the Freedom Wallet application or our website.
2. Freedom NFT
Once the Freedom NFT has been successfully minted, your Freedom NFT will be stored in your Freedom Wallet. Your Freedom NFT may be lost by unauthorized access to your Freedom Wallet account. Although we are committed that we will use our best efforts to maintain our application and system safe. But you agree and acknowledge that we do not have any control over your devices, your action, or the unauthorized action of any third party. We will not be liable for any loss or damages arising from the unauthorized usage or access to your Freedom Wallet. So, you need to make sure that you safely keep all credentials of your Freedom Wallet account at all times.
3. Rights in Freedom NFT
You have ownership over your Freedom NFT. You can use your Freedom NFT for your purpose, such as set as your profile picture in your Freedom Wallet account. However, you cannot use the Freedom NFT in a way that is or may be harmful to us or any of our group companies, or in violation of any applicable laws.
You can transfer your Freedom NFT to any wallet or any person. However, the Freedom NFT is the ERC-721 token, which is transferable within the network that supports ERC-721 token only. Whenever you want to transfer your Freedom NFT to any external wallet other than Freedom Wallet, make sure that the external address supports the ERC-721 token. We will not be responsible for any loss or damages arising from the transfer of Freedom NFT to unsupported networks and we will not have any duty to recover the Freedom NFT or reverse the transaction for you. To enjoy and maintain your rights to earn any benefits under the Freedom NFTs Services, we strongly advise you to transfer your Freedom NFT within Freedom Wallet.
4. Benefits
4.1 Freedom NFTs Benefits. If you own any Freedom NFT, you can earn certain benefits provided by us from time to time (“Benefits”). You can find more details about the Benefits on our website. The Benefits that you can earn will depend on the type and rarity of your Freedom NFT.
4.1.1 Freedom NFT Benefits for Freedom Cardholders. If you own both Freedom Card and Freedom NFT, you are eligible to receive additional FDM Rebate rates per your Freedom Card transaction stated by your NFT’s attribute. You must connect your Freedom ID and Bitazza ID via Bitazza Connect to be eligible to earn Benefits. The FDM Rebate under this Freedom NFTs Services will be given out alongside your FDM Rebates under the Freedom Card services. You can find how to redeem FDM Rebate in Freedom Card Terms. However, you agree and acknowledge that your rights to earn FDM Rebate under the Freedom NFTs Services will also be subject to any conditions and restrictions under the Freedom Card Terms. You can find the Freedom Card Terms here.
Freedom Card Terms will be incorporated into these Terms. These Terms must be read in conjunction with Freedom Card Terms. In the event of any conflict between these Terms and Freedom Card Terms, the Freedom Card Terms will control.
4.1.2 Freedom NFTs Benefits for the User of Other Products: We may offer other benefits to Freedom NFT holders who do not own the Freedom Card. You can find the updated Benefits on our website.
4.2 Conditions to Earn Benefits. To earn the Benefits, you must satisfy the conditions below;
4.2.1 Once you have received your Freedom NFT minted, you must set your Freedom NFT as your Freedom Wallet profile picture. You can earn the Benefits only from the Freedom NFT that you set as your profile picture.
4.2.3 If any certain Freedom NFT has been used as a profile picture of any User, the subsequent User that later set that Freedom NFT as the profile picture can only earn the Benefits 72 hours after the time that the User set the profile picture.
Example. A used his Freedom NFT as his Freedom Wallet profile picture on 1 November 2022, then he transferred that Freedom NFT to B. And B set that Freedom NFT as her profile picture on 4 November 2022 at 6.00 a.m. As a result, B can earn the Freedom NFT Benefit after 6.00 a.m on Monday, 7 November 2022.
5. Termination of Freedom Wallet Account.
If you terminate your Freedom Wallet account, your rights to earn Benefits will be automatically terminated. You will no longer receive any other Benefits from the effective date of the termination.
6. Suspension and Termination by Freedomverse
6.1 Causes for Suspension and Termination. We reserve an absolute right to terminate your rights to earn the Benefits and/ or temporarily or permanently freeze or terminate your Freedom Wallet account, at any time, without any prior notice or liability to you if;
6.2 Effect of Termination.If, i.) your rights to earn the Benefits are terminated; or ii.) your Freedom Wallet account is terminated under clause 6.1 (Causes for Suspension and Termination) ( i and ii collectively referred to as "Termination"), your rights to the Benefits will be as follow;
7. Risks
7.1 Volatility and Fluctuations. The price of NFT and FDM is subject to volatility and fluctuations. Many factors may have an adverse effect on the NFT and FDM prices and may result in a decrease of your NFT and FDM value.
7.2 Blockchain. Freedom NFT is built on the public blockchain. Freedomverse is not the operator or has any control over that blockchain. There might be some event that has a negative impact on the ecosystem of the blockchain which may result in the delay of transaction or even loss of your assets or value of your assets.
7.3 Regulations. Since the NFT is one of the digital assets which may be regulated by the governments of any jurisdiction, including where our company is incorporated. So, the transaction relating to NFT may be subject to any regulation and laws which can be changed at any time and beyond our control. In the future, our Freedom NFTs Services may be restricted by any regulation and laws, and may result in the suspension of our services. However, we will strictly comply with any regulations or laws that may apply to us.
7.4 Tax. Your transaction relating to the Freedom NFT, such as minting, holding, or transfer of Freedom NFT, may be subject to taxation of the country where you are a tax resident. You will be solely responsible for any tax imposed on any transaction you have made. We will not provide you with any tax advice. If you have any issues relating to tax matters, you should consult the tax advisor.
7.5 Efficiency of Services. We do not make any representations or warranties, whether express or implied, that access to the site, application or any part of the Freedom NFTs Services, will be continuous, uninterrupted, timely; be compatible; work with any software, system or other services; or be secure, complete, free of harmful code, or error-free.
8. Limit of Liability
8.1 Indirect Damages. In no event we will we be liable to you for any special, indirect, incidental, or consequential damages (including, without limitation, loss of use, data, business, or profits) arising out of or in connection with these Terms, whether such liability arises from any claim based upon the contract, warranty, tort (including negligence), product liability or otherwise, and whether or not, we has been advised of or knew or should have known of the possibility of such damages.
8.2 Computer Viruses. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms, or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attacks.
9. Severability
Freedomverse and User (collectively referred to as "Parties”) intend every provision of these Terms to be severable. If any part of these Terms is not enforceable, the remaining provisions will remain valid and enforceable. If a court of competent jurisdiction determines that any term or provision contained herein is illegal or invalid for any reason, the illegality or invalidity will not affect the validity of the remainder of these Terms.
10. Force Majeure.
We will not be liable for any delays, suspension of operations, whether temporary or permanent, failure in performance, or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including without limitation, any delay or failure due to any act of God, natural disasters, act of civil or military authorities, act of terrorists, cyber-related terrorist acts, hacking, government restrictions, laws and regulations, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, or any other occurrence which is beyond our reasonable control.
11. Governing Law and Dispute Resolution
These Terms are governed by and construed by the laws of Thailand, without regard to conflict of law principles. In relation to any claim or dispute arising out of or in connection with these Terms between the Parties to these Terms, the Parties hereto irrevocably agree that they shall be referred to and be resolved by arbitration in Thailand under the Arbitration Rules of the Thai Arbitration Institute (TAI) for the time being in force.
12. Langage
There are two versions of these Terms, including English and Thai versions. In the event of any conflict between the two versions, the English version will control.