The MBX NFT Terms of Service (hereinafter referred to as ”Agreement”) define the material matters of the MBX NFT (hereinafter referred to as “Services”) to be provided by Marblex (hereinafter referred to as “Company”) and stipulate specific rights and obligations between the parties hereto.
If you do not agree to the Agreement, you cannot use the Services and by using the Services, it will be deemed that you or the user acknowledges that they are an adult with the legal capacity to use the Services and have fully understood and agreed to the Agreement.
NOTICE: THE SERVICES ARE AVAILABLE ONLY TO ADULTS WITH LEGAL CAPACITY ACCORDING TO THE LAWS OF THE COUNTRY THEY RESIDE. YOU ACKNOWLEDGE AND AGREE THAT THE USE OF THE SERVICES AND ANY CONSEQUENCES OF SUCH USE ARE ENTIRELY AT THE DISCRETION OF USER, AND THAT YOU BEAR ALL THE CONSEQUENCES AND THE LIABILITIES ACCRUED THEREFROM.
1. Definition
The definitions of terms used in this Agreement are as follows:
1.1 NFT means a unique digital identifier recorded on the blockchain network and it is linked to content (including, but not limited to, artwork, photos, videos, graphics, images, designs, logos, marks, software, data, information, materials, etc.).
1.2 Available NFT means an NFT that can use the Services and is directly issued by the Company or by a third party through partnership or contract. Available NFT that users can participate in each staking service are classified.
1.3 Staking means an action as an activity required by the operating entity (NFT issuing entity) such as transferring NFT to a specific wallet or address. Staking can be provided in two ways including: (i) a mining type which provides pre-suggested rewards at regular intervals; and (ii) a season type which provides pre-suggested rewards at a time separately designated by the issuer.
1.4 Unstaking means a suspension of the Staking activity as provided for in Section 1.3. Unless otherwise specified, Unstaking is not made automatically and is available only upon user's request.
1.5 Reward means a reward provided to users who fullfill the conditions when usdin the Services.. It is offered in the form of FT (Fungible Token) or Available NFT.
1.6 Boost Staking means a service that allows users who participate in any Staking (Mining type) to shorten the reward grant time by additionally staking an FT (Fungible Token), etc. under specified conditions.
1.8 NFTSwap means a service that holds NFT in the wallet that meet the conditions specified by the Company (including, but not limited to, who can participate, types, exchange methods, etc.) or provides rewards to eligible users upon satisfaction of the conditions, and can be classified as follows. All services are subject to a specified Claim fee.
- NFTAirdrop Deposits NFT that meet the specified conditions into a pool for a period of time and delivers the deposited NFT and new Available NFT(hereinafter referred to as Reward).
- NFTSwap Swap NFT that meet the specified conditions for Reward.
- NFTClaim Provide Reward to users who meet specified qualifications
- NFTCoupon Provides coupons for services available in the company or affiliated services to users who hold NFT that meet the specified conditions.
1.9 Wallet means an online wallet service that allows users to store, trade, exchange and manage digital assets such as NFTs and FTs. The Company may set the types and conditions of wallets that can use the Services separately.
1.10 Claim Fee means the fee incurred when receiving a reward. Claim fees may be deducted from Rewards according to the conditions specified by the Company for each service (including, but not limited to, the type and quantity of FTs paid), or you may receive Rewards after paying Claim fees in advance.
2. Eligibility
2.1 Eligibility to use the Services is granted only to adults whose legal capacity is recognized under the laws of the country they reside. Minors are not allowed to use the Services.
2.2 You shall have a Wallet account that is normally active for Services, and you can use the Services after completing the connection between such account and the Services.
3. Amendment
3.1 The Company reserves the right to change, add or delete any content of the Agreement, and users acknowledge and agree to this.
3.2 The Company may notify the content or any matter of changes in Section 3.1 hereof through the webpage or the Services. If a user does not agree to the revised matter, he or she shall stop using the Services. If you continue to use the Services even after the revision, you are deemed to have agreed to such revision of the Agreement.
3.3 Matters not described herein are interpreted according to and covered by the Marblex Wallet Terms of Service.
4. Services
If you have an active account with an available Wallet and connect to the Services, you can use the following Services
4.1 NFT Staking (Mining type) : When Staking an Available NFT specified as Mining type, you can receive the Reward specified for that NFT.
4.1.1 Available NFT have their own maximum quantity and type of Rewards that can be granted according to the type or grade/level determined by the issuer. You cannot receive a Reward just by holding Available NFT in your Wallet, and you can receive a Reward only by proceeding with the Staking.
4.1.2 Rewards according to the Staking will be provided accumulatively according to the specified calculation method and frequency. Rewards are not provided automatically, and users can directly receive Rewards in their Wallets connected to the Services by using the Reward receiving function within the Services. Any receiving of a Reward incurs a Claim Fee and the Reward subject to the granting will be sent to your Wallet after deducting applicable Claim Fee therefrom.
4.1.3 The Company reserves the right to change, add or delete major conditions related to the granting Rewards (including, but not limited to, calculation method of Available NFT, payment cycle, waiting time for Unstaking, Unstaking fee, Reward type, Claim Fee, etc.) And the issuer has the right to any Available NFT issued by a third party. The Company or the NFT issuing entity can provide major conditions related to the Reward through the Services or any link pages.
4.1.4 Any available NFT in the Staking state cannot be traded, swapped or transferred. User can trade, swap or transfer such Available NTF only when the application for the Unstaking thereof is filed and such application is duly accepted. Unstaking process is not completed immediately after the filing of application and it will be completed after the lapse of specified waiting time. If there is a Reward that has not been received, it will be automatically provided at the time of completion of the Unstaking after deducting applicable Claim Fee therefrom. Depending on the Available NFT, unstaking may incur fees.
4.1.5 Reward granting will be suspended upon the filing of application for Unstaking. If you proceed with the Staking again after Unstaking is completed, then you can continue to receive the remaining Rewards excluding the ones already granted.
4.1.6 Even upon trade, exchange or transfer of any Available NFT between users, the total granting amount of the Rewards and the remaining amount that can be received remain to be the same and will not be initialized. If the previous holder sells or transfers his/her Available NFT after receiving some or all its Rewards, then the subsequent holder can only acquire the remaining amount of such Rewards.
4.2 Boost Staking : The Company can provide any Boost Staking, which allows users to accelerate the granting timing of Rewards by additionally Staking FT under conditions specified by the Company. Boost Staking participants can receive the amount of granting per any Reward granting cycle in accordance with Section 4.1 hereof before the original granting cycle ends (provided, however, that this doesn’t mean the increase in the total amount of Rewards granted or scheduled to be granted). Users can opt to use the Boost Staking at his/her own discretion, and it is not a prerequisite for the participation in any NFT Staking.
4.2.1 Any user who is participating in the Staking set forth in Section 4.1 hereof while holding the FT (a FT that meets the major conditions defined in Section 4.2.3 hereof) by which the user can participate in the Boost Skating in his/her Wallet can increase the amount of Reward granting in the Staking granting period by conducting additional Boost Stacking. Even if the amount of Reward granting increases, the total amount of Reward granting specified according to the Available NFT grade or type will not change.
4.2.2 According to the number of Tokens involved in the Boost Staking, the amount of Reward granting during the granting cycle will increase according to the determined formula for provision. No separate Reward will be provided for Tokens participating in the Boost Staking, except for the increase in the amount of Rewards granted.
4.2.3 The Company reserves an absolute right to determine the main conditions of Boost Staking (including, but not limited to, the types of Tokens available for the participation, the formula for calculating the amount of Rewards, etc.) and to change, add or delete them afterwards. The main conditions for Boost Staking can be provided through the Services or a link page.
4.2.4 When a user is participating in a Boost Staking, he/she cannot change the quantity of Tokens that can participate in the Boost Staking or Unstake only a part of them. In order to change the participation quantity, you need to Unstake the Boost Staking entirely and then proceed with the Staking again. When a user Unstakes all the Stakings he/she is participating in, it will Unstake the Boost Staking automatically. Boost Staking may require payment of separate fee upon any Staking and Unstaking. Unstaking of a Boost Staking will not be implemented immediately and will be completed after the lapse of designated waiting time after the filing of application.
4.2.5 In principle, you may conduct the Boost staking only by the Staking of a single NFT. If you are participating in the Staking on a multiple number of NFTs, then the effect of the Boost Staking will be divided by the number of staked NFT based on the total Reward amount.
4.3 Level-up : Users may increase the total amount of the Rewards provided through the level-up of Available NFT in accordance with Section 4.1.1. hereof. Provided, however, that you cannot conduct the level up on any Available NFT which is participating in the Staking.
4.3.1 Users can level up their Available NFT owned by using the specified type and quantity of the Tokens, and when the level goes up, the maximum value of the specified Reward can be raised.
4.3.2 The Company reserves the right to change, add or delete the main conditions related to the level-up (including, but not limited to, the type and quantity of the FT required, the total amount of Rewards per level and the maximum level), and such right is vested in the issuing entity on any Available NFT which was issued by a third party. The Company or the NFT issuing entity may provide matters related to the main conditions on the level-up via the Services or any link page.
4.3.3 Level-up is available only when all Rewards assigned to the present level of the Available NFT have been received. You cannot level up if you have any Reward that has not been received or if your Available NFT has reached the maximum level.
4.3.4 The level-up status is maintained and not initialized even when the Available NFT is exchanged, traded or transferred between users. The provisions of Section 4.1.6 hereof shall apply mutatis mutandis to the content related to the Reward.
4.4 NFT Staking (Season type) : During any Staking Season, you can participate in the Staking and receive Rewards specified for such Staking Season according to the importance of the NFT.
4.4.1. When the Staking Season begins, users can participate in the NFT Staking (Season type) when they have Available NFT in their Wallets.
4.4.2 Each Available NFT has a level of importance determined by its issuing entity and depending on the issuing entity, Available NFT can be divided into multiple groups (names may vary depending on the issuing entity). You cannot receive a Reward just by holding Available NFT in your Wallet, and you can only receive a Reward by participating in any Staking.
4.4.3 In any Staking Season, the total amount of Rewards that can be granted within such Season is separately designated, and users can be granted the Rewards out of the total amount thereof in proportion to the level of importance designated in the Available NFT participating in the Staking and the ratio designated by group (only when the issuing entity has separately classified it). Rewards are not granted automatically, and users can directly receive Rewards in their Wallets connected to the service by using the Reward receiving function within the Services. A Claim Fee is charged when receiving a Reward and the Claim Fee will be deducted from the received Reward and the remaining will be sent to the Wallet.
4.4.4 If you did not participate in the Staking or have not received a Reward in any Staking Season, you can receive the Season Rewards for such Available NFT by getting accumulated Rewards upon your participation in the next round of Staking.
4.4.5 The Company reserves the right to change, add or delete major conditions related to the Staking (including, but not limited to, the timing and frequency of Season operation, classification of groups and total amount of Rewards per Season), and for any Available NFT issued by a third party, such right shall belong to the related issuing entity. The Company or NFT issuing entity may provide matters related to major conditions on the Staking via the Services or any link page.
4.4.6 Any Available NFT in the middle of the Staking state cannot be traded, exchanged or transferred. Any Available NFT may be traded, exchanged or transferred after a user directly requests for the Unstaking and the Unstaking process is completed. Unstaking is not completed immediately after the request, and it will be completed after the lapse of specified waiting time.
4.4.7 Even when the Available NFT is exchanged, traded or transferred between users, the importance level and the Season Reward receipt status of such Available NFT will stay the same and will not be initialized. If the previous holder sells or transfers an Available NTF after receiving all related Season Rewards, then the subsequent holder may only acquire the Rewards for the following Season.
4.5 NFTSwap means that you can input/deposit your existing Available NFT under the conditions specified by the Company, or exchange them for new Available NFT by meeting the specified qualifications. This service can be divided into detailed services such as NFT Swap, NFT Airdrop, NFT Claim, and NFT Coupon.
4.5.1 NFT Swap If you hold Available NFT with the conditions specified by the Company, you can exchange at least one of your Available NFT for one new Available NFT if the swap conditions are satisfied, and the Available NFT will not be returned. The type and range of Available NFT to be swapped will be disclosed in advance and provided by the specified probability.
4.5.2 NFT Airdrop If a holds Available NFT with conditions specified by the Company, it can deposit at least one holding Available NFT into the services system and swap it for one new Available NFT after a specified period of time, and the deposited Available NFT will be returned. The type, range, and deposit period of swapped Available NFT will be disclosed in advance and will be provided by a specified probability. Transfer, trading, and exchange of Available NFT on deposit are restricted.
4.5.3 NFT Claim Users who meet the conditions specified by the Company may acquire new Available NFT by providing a certain fee. The type and range of Available NFT that can be acquired will be disclosed in advance and provided by the specified probability.
4.5.4 Users who have Available NFT with the conditions specified by the Company can authenticate the Available NFT to the Service and receive the specified coupon. The coupon information is sent to the user's wallet, and the coupon can be used by authenticating the coupon information in the wallet at the place of use.
4.5.5 All services within NFTswap have a limited period and quantity of rewards. If the period expires or the quantity is exhausted, the service will not be available until the next opening. However, unlike the NFTswap services, coupons that have been paid may be used within the period specified in the coupon's available information and usage destination. You can check the provision period and quantity of all services in NFT swap at any time within the Services.
4.5.6 Available NFT that are participating in NFT staking or deposited in NFT airdrop cannot be used for NFTswap services. However, Available NFT that are participating in NFT staking can be used for NFTswap service after unstaking.
4.5.7 Claim fee is charged for the use of all services of NFTswap, and the user acknowledges and agrees that the company reserves all rights to change, add, or delete the Claim fee. In addition, the user acknowledges and agrees that the company reserves all rights to change, add, or delete the conditions of all services of NFTswap (including, but not limited to, the type of NFT available, the target, the type and scope of NFT to be swapped, etc.).
4.5.8 The Company does not guarantee the use of the NFTswap service for all availableNFT, and the use of the service is not included in the requirements to constitute an Available NFT. Coupons provided through the NFT coupon service are subject to change in accordance with the policies of the affiliated service operator or the coupon usage destination, and the Company is not responsible for guaranteeing or compensating.
4.5.9 The Company may provide services through multiple blockchain networks, but does not guarantee the integrity of the blockchain network. Users must clearly recognize and select the "Available NFT" blockchain network for input and acquisition when using all services of NFT swap. The Company does not guarantee or assume responsibility for any results caused by the blockchain network.
5. User Compliance
5.1 Users shall not engage in any of the following acts while using the Services. The Company may restrict the use of the Services, in part or in whole, or otherwise terminate the contract related to the Services to a user if the Company reasonably suspects that such user conducted or intends to conduct any of the following acts:
- any action that may cause any failure or interruption/suspension of the Services;
- any infringement of rights such as intellectual property rights of the Company, affiliated providers of the Services or any other third party;
- any act of using the Services for the purpose of giving unfair benefits to other users or others or otherwise harming others;
- any act of lending or transferring the right to use the Services to others or allowing their access by giving a transaction password or secondary password;
- any act of using the Services by stealing or illegally accessing others’ information;
- any act of installing illegal software or code or technically neutralizing security measures within the Services (including any act of distributing or discussing the methods therefor);
- any act of using or attempting to use the Services with an NFT that user does not have legal rights thereto or that has been unfairly created or copied;
- any act of using a method not approved by the Company or using or attempting to use the Services in an illegal way; or
- any other acts deemed by the Company to interfere with the operation of the Services or acts prohibited by the business partners or counterparties of the Company
5.2 Users shall check the relevant information when purchasing or acquiring an Available NFT. User shall take complete responsibility for all the consequences from the use of an Available NFT created or obtained through inappropriate methods or attempts in the view of the issuance entity or in accordance with the terms of service of the issuing entity, and the Company does not guarantee or compensate for such matters.
6. Intellectual Property
6.1 Users acknowledge and agree that all copyrights, trademarks and other intellectual property rights related to all materials provided on the Services belong to or are licensed to the Company.
6.2 Users acknowledge that the right to use the Services granted hereunder is personal, non-exclusive and non-transferable or assignable.
6.3 Users may not cancel or disable the security measures applied to the Services, nor engage in any reverse engineering or hacking activity.
6.4 Users shall not reproduce, transmit, distribute, use by any other means, or allow a third party to use, the Services or any and all materials contained therein unless he/she obtains a separate prior written consent from the Company and Affiliated Service providers or excutes a separate contract thereon, nor shall he/she use the Services or any materials contained therein for his/her own commercial purposes. In addition, the User shall not lease, rent, sublicense, sell, assign, encumber or transfer the Services or such materials.
6.5 In using the Services, users shall not produce or use any mark identical or similar to the marks that represent the goods or services of a third party such as the Company’s and the third party’s trade name, company name, trademark, etc., or any mark that represents any third party’s business.
6.6 Available NFT and NFT-related content, as well as all registered trademarks, product names and intellectual property rights contained therein, are the property of the publisher or their respective rights holders and may not be copied, imitated or used. Any buyer or holder of an Available NFT cannot use such NFT beyond the scope of limited license specified by the issuing entity of such NFT.
7. License
7.1 By holding an Available NFT in his/her Wallet, users can exercise the license granted thereto. Provided, however, that users acknowledge and agree that all contents (including, but not limited to, artwork, photos, videos, graphics, images, designs, etc.) included in or linked to such NFT are owned by the Company or the related issuing entity.
7.2 In accordance with Section 7.1 hereof, users are entitled to a non-exclusive, non-transferable, non-sublicensable, revocable and limited license (including the right to sell, transfer or dispose of) on the Available NFT for personal and non-commercial use. If a user sells, transfers or disposes of the Available NFT, all licenses granted to such user in relation to such Available NFT will automatically terminate, and such user will not have any rights in relation to such Available NFT.
7.3 All matters in Section 7 hereof shall be commonly applied to Available NFT, and if any Available NFT issued by a third party other than the Company has a separately designated license, such license shall take precedence over this provision. Users shall directly check the relevant contents and comply with them.
8. Suspension and Changes of Services
8.1 Users acknowledge and agree that the Company reserves the right to suspend or discontinue all or part of the Services at its own discretion.
8.2 The Company may notify users of the contents of Section 7.1 hereof via the Services or any link page.
8.3 Regarding information related to any Available NFT not issued by the Company, users shall directly check the information of the issuer and any changed matters on such Available NFT, and the Company does not take any responsibility for the matters related thereto.
9. Termination
9.1 If a user does not violate this Agreement and has no digital assets (Tokens, NFTs, etc.) participating in The staking or if the Unstaking has been made on all such assets, such user may terminate the use contract by a disconnection from the Wallet.
9.2 The Company reserves the right to suspend or terminate user's access to the Services and revoke user's limited rights granted herein at any time for any reason without prior notice. In any of such cases, the Company has no obligation to provide refunds, benefits or other compensation to users in connection with the suspension or termination.
9.3 If the Company determines that a user has materially violated the Terms of Use (including minor violations in a repetitive manner), the Company may terminate and delete the Services for such user in part or in whole without providing prior warning, or temporarily or permanently restrict the Services or such user’s access to the Services. The Company may also terminate or suspend the Services in its sole discretion for any other reason that Company deems appropriate.
10. Limitation of Liability
10.1 The Company does not predict or guarantee the profit or loss or any changes in value of digital assets (including, but not limited to, NFTs, Tokens, etc.) according to the results of using the Services, and is not responsible for such results. You acknowledge and agree that you are solely responsible for all the consequences of using the Services and that you cannot claim any compensation or hold the Company liable for any such loss.
10.2 You acknowledge and agree that when trading any Available NFT between users (any sale or purchase through the Marblex Marketplace or 3rd Party), you shall directly check and determine any abnormality in the blockchain network and the authenticity of the target NFT information and you are entirely responsible for all the consequences of such trading.
10.3 You acknowledge and agree that there may be partial or complete restrictions on the use of digital assets (including, but not limited to, NFTs, Tokens, etc.) in accordance with the laws that govern your place of residence. Also, you acknowledge and agree that the Company does not guarantee or compensate for any restriction on purchase, possession or use of digital assets due to legal reasons nor guarantee any future availability thereof.
10.4 The Company does not guarantee integrity of the blockchain network, and does not compensate for or assume the responsibility for the consequences of disruptions or errors in the blockchain network.
10.5 Users shall directly check the information provided by the issuer when it comes to the conditions for conducting the Staking for any Available NFT (including, but not limited to, Season operations, Season Rewards, etc.). The Company is not responsible for any consequences resulting from the failure to check the related information.
10.6 Information on any Available NFT issued by a third party may be announced by the issuing entity by providing a link page, etc. within Services, etc. but the Company does not guarantee the contents of such announcement.
10.7 Available NFT cannot be purchased or held for investment purposes, and all information provided in the Services shall not be considered an offer to conclude a contract for investment purposes. You acknowledge and agree that you are solely responsible for all the consequences arising from the purchase or possession of Available NFT.
11. Jurisdiction, Governing Law and Dispute Resolution
11.1. Any dispute or claim arising out of or relating to the Agreement shall be governed by and construed in accordance with the laws of Singapore without prejudice to choice or conflict of law principles. Any dispute arising out of or relating to the Agreement shall be finally submitted to the exclusive jurisdiction of an arbitration award in accordance with the Arbitration Rules of the Singapore International Arbitration Center ("SIAC").
11.2 If a claim has been filed with the Company in relation to the Agreement, the Company recommends that users contact the customer support team of the Company to resolve the claim amicably. If an amicable resolution cannot be reached within 30 days between the parties since the filing of a claim, the parties may refer the dispute to SIAC in accordance with SIAC's Arbitration Rules. Arbitration shall be conducted before a single arbitrator jointly selected by the parties. If the parties cannot agree on an arbitrator, either party may request SIAC to appoint an arbitrator.
11.3 The party seeking arbitration in connection with Section 10.1 hereof shall first send to the other party a written notice on the dispute via certified mail (hereinafter the "Notice"). Users' notices to the Company shall be sent to IGS, 25 Mullae-ro 28-gil, Yeongdeungpo-gu, Seoul, Korea. The Notice shall explain the nature and basis of the claim or dispute, and shall specify the relief sought by the claimant. Either party may initiate an arbitration process unless the user and the Company agree to resolve the claim within 30 days of receiving the Notice.