Terms and Conditions of the ARTEFACT Service

1. Definitions

1.1. Platform – the online system available at https://www.art-e-fact.com, enabling the purchase, sale, issuance, and storage of DCOO, NFTs, and other products related to the art industry.
1.2. User – an individual who has registered on the Platform and accepted these terms and conditions.
1.3. DCOO – a token created for the purpose of issuing art works.
1.4. NFT – a non-fungible token related to DCOO, representing digital ownership of an artwork.
1.5. $ARTF – a cryptocurrency token used within the Platform’s system.
1.6. Metaverse – a virtual world where Users can view artworks, participate in issuances, and exchange digital assets.
1.7. KYC (Know Your Customer) – the process of identifying the User's identity.
1.8. AML (Anti-Money Laundering) – procedures to prevent money laundering.

2. Purpose of the Terms and Conditions

2.1. These Terms and Conditions define the rules for using the ARTEFACT Platform, including the issuance of art works, trading of DCOO and NFTs, and other services related to the art market.
2.2. By using the Platform, the User agrees to comply with these Terms and Conditions.

3. Registration on the Platform

3.1. Registration on the Platform is voluntary but required to access the full functionality.
3.2. The User agrees to provide true information during registration and to update it in the case of any changes.
3.3. Upon completing registration, the User gains access to their account, which allows them to purchase DCOO and NFTs, as well as access Metaverse services.

4. Rules for Issuance of Artworks

4.1. DCOOs can only be purchased through the ARTEFACT Platform.
4.2. Each artwork issued on the Platform is linked to a specific number of DCOO tokens.
4.3. The issuance may occur in different rounds, with the number of tokens in each round predetermined.
4.4. Artists retain 1% of DCOO from each issuance for purposes related to releasing a physical version of the artwork.
4.5. NFT is a derivative of the DCOO token and is linked to a specific DCOO.

5. Rights Associated with DCOO and NFT

5.1. Ownership of DCOO grants the right to receive an NFT, which represents digital ownership of the artwork.
5.2. NFTs may be traded on the Platform as well as on other external markets.

6. Rules for Exchange of DCOO

6.1. DCOO can only be sold on the ARTEFACT Platform, except in cases specified in the Terms and Conditions.
6.2. Holders of DCOO may participate in the issuance of new artworks and exchange tokens within the Platform ecosystem.

7. Issuance of Artworks from Private Collections

7.1. Each issued artwork of a deceased artist is an attribution, this is done by attributing the work to the artist, a procedure very often used in the classical market, in order not to mislead the User.
7.2. ARTEFACT collaborates with private collectors who may contribute their artworks to the Platform for issuance.
7.3. The proceeds from the sale of the artwork are divided between ARTEFACT, the collector, and the holders of DCOO with Elite Art Collector status.
7.4. Upon completion of the issuance, the artwork becomes the property of the Users who purchased it, and the artwork is stored in the ARTEFACT vault.

8. Metaverse – ARTEFACT Gallery

8.1. Access to the ARTEFACT Gallery requires the purchase of an access key for 100 $ARTF.
8.2. Users can visit the Gallery in a virtual space and view artworks issued by ARTEFACT.
8.3. This service is available on VR devices.

9. Right to Redeem the Artwork in Physical Form

9.1. To acquire a physical version of an artwork, the User must hold at least 100,000 $ARTF in their wallet.
9.2. After acquiring 51% of DCOO, the User may proceed to purchase the remaining shares, and the Platform will conduct a “forced” sale for other token holders.
9.3. After purchasing 99% of the DCOO, the User must pay a “redemption key” fee of 1000 $ARTF, which will then be burned.
9.4. After acquiring 100% of the DCOO, the User contacts the ARTEFACT team to arrange the delivery of the physical artwork.

10. Data Protection

10.1. The administrator of personal data is LEANJUTSU Ltd., based in Wrocław, Poland.
10.2. Data processing is carried out in accordance with applicable law, including the GDPR regulation.
10.3. Users have the right to access their data, correct it, and request its deletion.

11. Liability

11.1. The Platform is not responsible for the actions of Users or for damages resulting from the use of blockchain technology.
11.2. The Platform does not guarantee the stability of the value of Tokens or the availability of services.
11.3. ARTEFACT is not responsible for any damages caused to third parties by the actions of Users.

12. Final Provisions

12.1. ARTEFACT reserves the right to amend these Terms and Conditions, with any changes taking effect from the moment they are published on the Platform.
12.2. Any disputes arising from these Terms and Conditions will be resolved by the competent common court.
12.3. These Terms and Conditions come into effect on the date of their publication on the Platform.

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