1. NFT Description.
Through the LockerRoom NFT service you may be permitted to purchase and subsequently pay for (together, “Purchase”) certain non-fungible tokens created by LockerRoom Athletics, LLC, a Texas limited liability company. These Additional Terms (“Additional Terms”) describe your rights and obligations with respect to such NFTs.
2. Ownership and License
2.2 License. Subject to your complete and ongoing compliance with these Additional Terms, the LockerRoom Terms of Service, and any other terms governing your relationship with LockerRoom Athletics, LLC or LockerRoom, LockerRoom Athletics, LLC grants you, solely for your personal, non-commercial use, a limited, non-exclusive, non-transferable (except in connection with a Secondary Sale), non-sublicensable, revocable license to use any to any intellectual property (or related intellectual property rights) included in the NFT (“NFT IP”) solely as included in the NFT. For clarity, except for the foregoing license, neither your Purchase of the NFT nor these Additional Terms grant you any other license or rights to any NFT IP.
2.3 License and Use Restrictions. Except and solely to the extent such a restriction is impermissible under applicable law, you may not:
2.4 Royalties. 10% of any amounts payable to you upon a Secondary Sale on the OpenSea.io, SolSea.io, or other similar NFT platform shall be remitted to LockerRoom Athletics, LLC as a royalty hereunder.
NFTS ARE INTANGIBLE DIGITAL ASSETS THAT EXIST BY VIRTUE OF THE OWNERSHIP RECORD MAINTAINED IN THE ETHEREUM NETWORK. ALL NFT SMART CONTRACTS OPERATE ON THE DECENTRALIZED ETHEREUM LEDGER. LOCKERROOM NFT, LOCKERROOM ATHLETICS, LLC, THE STUDENT ATHLETES, AND EACH OF THEIR AFFILIATES HAVE NO CONTROL OVER AND MAKE NO PROMISES OR GUARANTEES WITH RESPECT TO SOLANA, ETHEREUM, OR SMART CONTRACTS. YOU AGREE THAT LOCKERROOM NFT, LOCKERROOM ATHLETICS, LLC, ANY STUDENT ATHLETES, AND EACH OF THEIR AFFILIATES ARE NOT RESPONSIBLE FOR AND WILL HAVE NO LIABILITY FOR ANY ISSUES OR LOSSES RELATED TO THE NFT, THE ETHEREUM BLOCKCHAIN, YOUR DIGITAL WALLET, OR SMART CONTRACTS.
PLEASE READ THIS SECTION CAREFULLY. IT MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT. Your Purchase of an NFT constitutes your acceptance of this Arbitration provision.
As a condition to purchasing the NFT, you and we agree that any and all disputes, claims and causes of action (collectively, "Claims") arising out of or connected with the NFT (except for small claims court Claims, if applicable) shall be resolved exclusively by binding arbitration under the rules of the American Arbitration Association ("AAA"), including the Supplementary Procedures for Consumer Related Disputes, for full and final settlement of such Claim applying the Federal Arbitration Act and other federal arbitration laws. YOU UNDERSTAND AND AGREE THAT YOU ARE WAIVING YOUR RIGHT TO SUE OR GO TO COURT TO ASSERT OR DEFEND YOUR RIGHTS UNDER THIS CONTRACT. YOU AND WE ALSO AGREE THAT (A) ANY CLAIMS WILL BE RESOLVED INDIVIDUALLY NOT AS A PLAINTIFF OR CLASS REPRESENTATIVE, MEMBER OF OTHERWISE ON BEHALF OF OTHERS IN ANY PROPOSED CLASS, COLLECTIVE, OR REPRESENTATIVE PROCEEDING AND NOT THROUGH ANY CLASS ACTION, (B) IF A CLAIM PROCEEDS IN COURT ANYWAY, WE BOTH WAIVE ANY RIGHT TO A JURY TRIAL; AND (C) EITHER YOU OR WE MAY SEEK A COURT INJUNCTION REGARDING INTELLECTUAL PROPERTY INFRINGEMENT. ARBITRATION DOES NOT INVOLVE A JUDGE OR JURY.