Worldtimer NFT Terms and Conditions

These T&Cs govern the attribution and subsequent Transfer (as defined in Section 5) of the Classics Worldtimer manufacture NFT offered by Frederique Constant a Swiss SA registered under the number CHE-109.099.577, having its registered office at Chemin du champ des filles, 32 1228 Plan les Ouates Switzerland (the “Company”). The distribution is operated by Rarecubes (WeConnect, 13 quai de l’Ile, 1204 Geneva, Switzerland) for the Company.


These T&Cs constitute a legally binding agreement (the “Agreement”) between you and the Company. By accepting the initial offer of the NFT or by purchasing it through a Transfer, you agree to be bound by this Agreement and by the terms and conditions of the platform or marketplace on which the Transfer takes place (the “Platform”).

DEFINITIONS 

“Content” means together:

  • Any art, graphics, images, designs, logos, drawings, phonograms, pictures, recording, video, or visual and audio representation of any kind and format that may be associated with an NFT that you Own.
  • (“IP Content”);
  •  Any right to benefits or experiences associated with the NFT (“Benefit”).

“Equivalent” means the value, in Fiat money such as US Dollars, Euros, etc., of the market value of the relevant amount of cryptocurrency on the day of the NFT Transfer.

“Licensed Rights” mean the limited license described in Section 5,
“NFT” means any blockchain-tracked, non-fungible token, created by or on behalf of the Company, eligible to Transfer and in which a specific Content is incorporated.

“Own” means, with respect to an NFT, an NFT that you have purchased from a legitimate source, in a Transfer recorded on the blockchain, granting you limited licensed rights on the Content.

“Third-Party IP” means any third-party patent rights, copyrights, authorship, or other intellectual property right recognized in any country or jurisdiction, included in the Content.

LOTTERY CONDITIONS

 

  1. Participation in the Lottery is open only to individuals who have the right and authority, in accordance with relevant applicable laws, to enter into this Agreement, are fully able and competent to satisfy the terms, conditions, and obligations herein and who have bought the physical watch (with reference FC-718NWWM4H6) until September 30th, 2022, and registered their credentials at https://frederiqueconstant.com/pages/nft-registration-form

  2. The lottery will be held by Frederique Constant on October 4th and the winners (the “Owner”) will receive a written communication (email) from Frederique Constant within the next 72h following the draw.

  3.  Only the people who will receive the email from Frederique Constant will have the legal right to receive the free NFT.

  4. As the successful winner of the lottery, Owner agrees to receive for free the NFT from FREDERIQUE CONSTANT, pursuant to the transfer method displayed on the Frederique Constant website and guidelines displayed on the page dedicated to the NFT project.

  5. As the successful winner of the lottery, Owner further agrees to provide the Company with all information and documents the Company requests in order to verify the Owner identity and to confirm that the NFT is sent to the legitimate Owner, meaning a person who won the lottery. This verification may take up to three weeks and consequently postpone the effective transfer of the purchased NFT from FREDERIQUE CONSTANT’s crypto wallet to the Owner’s Crypto Wallet, which shall not occur in any event prior to the expiry of a fourteen (14) day period.

  6. FREDERIQUE CONSTANT may also require the Owner to provide additional information and documents in cases where it has reasons to believe that the Owner is involved in money laundering or in any other illegal activity or that the Owner is in breach of this Agreement. In such cases FREDERIQUE CONSTANT, in its sole discretion may pause or cancel the Owner participation in the Lottery and, as the case may be, is entitled to deny the transfer of the NFT to the Owner’s Crypto Wallet and terminate the Agreement in the condition defined in Section 6 below.

  7. You acknowledge and agree that in some countries, and for certain people or entities, there may be restrictions on the ownership of NFTs under applicable export control and sanctions laws and regulations or restrictions on the reception of NFT, and therefore Your ability to own an NFT may be limited or restricted without any liability of FREDERIQUE CONSTANT nor RARECUBES.

  8. The Owner further represents and warrants that he/she is at least 18 years old, or the age of majority in his/her country or territory, whichever is older.

RIGHTS – LICENCE, RESTRICTIONS & BENEFITS

 

IP Content
Possession of the NFT grants you a LIMITED WORLDWIDE, NON-TRANSFERABLE (EXCEPT IN A TRANSFER AS DESCRIBED IN SECTION 4), ROYALTY-FREE LICENCE TO USE, COPY AND DISPLAY THE IP CONTENT ON ANY SUPPORT WHATSOEVER, SOLELY FOR YOUR OWN PERSONAL, NON-COMMERCIAL USE, AND FOR AS LONG AS YOU OWN THE NFT, ON A NON-EXCLUSIVE BASIS (only the Company and Third-Party IP owner, or their assignees shall have rights in the Content) (the “Licensed Rights”).
You may not, nor permit any third party to do or attempt to do any of the following:

  1. Modify the NFT in any way;
  2. Make the Content available to the public, other than the preview visible in the Wallet or on the platform;
  3. Use the NFT to advertise, market, or sell any product or service;
  4. Use the NFT in recordings, videos, or any other form of media or art, except for your own personal, non-commercial use;
  5. Sell, distribute, or otherwise commercialize merchandise that includes, contains, or consists of the NFT;
  6. Attempt to register, trademark, copyright, or otherwise acquire or protect additional intellectual property rights in or to the NFT;
  7. Or otherwise use the NFT for your or any third party’s commercial benefit.

To the extent that the NFT contains Third Party IP, you will have no right to use such Third Party IP in any way except as incorporated in the IP Content, and subject to the license and restrictions herein.

Benefits
The following types of cookies may be stored on your device when you access our website.
The ownership of the NFT will grant the Owner access to a list of benefits:

  • Preview two Frederique Constant novelties every year - one per semester - including pre-order rights. In case of resale of the NFT the advantage ceases to exist. In case of resale of both to the same person, the advantage will be transferred.
  • Possibility to create a limited-edition physical watch, in collaboration with the other owners of the NFT. This is valid once for a limited-edition piece to be produced in 2023.
  • Possibility to have access to the brand’s Manufacture Experience free of charge, if you are in Geneva (by appointment only). In case of resale of the NFT or the physical watch, the advantage ceases to exist.
  • Possibility to have your warranty extended to 3 years on the purchase of the physical Classics Worldtimer Manufacture 10th anniversary watch – SKU: FC-718NWWM4H6 -. In case of resale of the NFT or the physical watch, the advantage ceases to exist.
  • Possibility to be invited to watch fairs (Manufacture Weeks, Geneva Watch Days, etc.) or other brand events. In case of resale of the NFT or the physical watch, the advantage ceases to exist. In case of resale of both to the same person, the advantage will be transferred.
  • Possibility to gain access to the brand's NFT projects (previews).

 

TRANSFER

 

The Owner has the limited right to sell the NFT on any compatible Platform, provided it is duly recorded on the blockchain and this Agreement applies (the “Transfer”). The Licensed Rights granted to the Owner hereunder will automatically be transferred to the new owner of the NFT, upon completion of the Transfer. You will not retain any right whatsoever on the NFT.

On any Transfer:
  • Platform fees will be automatically applied on the transfer price, and their amount is fixed unilaterally by the Platform and can evolve;
  • 5% of the gross transfer price will be automatically deducted, by way of smart contract operation, to be distributed as a remuneration for the Company and Third-Party IP rights owner.
  • Benefits will cease to exist or will be transferred following the terms described in section 4.

TERMINATION OF THE LICENSED RIGHTS

 

The Licensed Rights granted to the Owner hereunder will automatically terminate and all rights shall return to the Company if:
  • At any time, the Owner sells, trades, donates, gives away, or otherwise disposes of the NFT except as provided in section 5 of this Agreement;
  • The Owner breaches any term of the Agreement, or of the Platform T&Cs;
  • The Owner has a trustee, receiver or similar party appointed for the Owner’s property, becomes insolvent, acknowledges the Owner insolvency in any manner, makes an assignment for the benefit of the Owner creditors, or files a petition of bankruptcy.

 

PAYMENT, TAXES AND FEES

 Payment for a Transfer is made via a blockchain digital wallet transfer (the “Wallet”). If you do not already have one, and wish to acquire an NFT, please obtain a hosted Wallet. For this particular project, the NFT will be transferred by the Company free of charge towards a crypto wallet the Owner shall has opened following the Company instructions.

You understand that the NFT must be Transferred in exchange for cryptocurrency, on the blockchain, and that the Company has no control over potential “gas” fees collected by miners/validators of the selected Blockchain.

The Company is not responsible for determining the withholding, sales, use, value added, transfer or other taxes (“Taxes”) that may apply to the NFT possession or Transfer. You agree that the Owner is solely responsible for determining what, if any, Taxes apply to the Owner Transfers, and to withhold, collect, report and remit the correct amounts of Taxes to the appropriate taxing authorities.

For tax rate information, the Owner may wish to consult an independent tax advisor.

 

COMPLIANCE

The Wallet must be registered to the Owner, or, if the Owner registered to bid as a company, then in the name of the company.

 

LIMITATION OF LIABILITY AND NO WARRANTIES

All purchases of NFTs, as well as all associated charges, are non-refundable, regardless of your decision not to use the NFT, or of any disruption or impediment to the use or enjoyment of the NFT. Furthermore, as the Transfer is only possible through smart contracts running on the blockchain, there is no ability to undo, reverse or restore any Transfer.
You acknowledge and agree that the Company:

  1. Cannot and does not make, any promises or guarantees about the availability of the NFT or the Content on the Internet or that it will host the NFT or the Content at any specific location and/or in perpetuity;
  2. Does not make any promises or grants any guarantees related to the Platform, wallet operators, Blockchain or any other third parties related to NFT storage or Transfer and each of their applications and/or services, including but not limited to the continued availability of either and/or the protection of any data you provide to those parties;
  3. Is not responsible for any Transfer between you and a third party, and shall have no liability in connection with any such transaction;
  4. Cannot and does not represent or warrant that the NFT, or its supporting systems or technology, is reliable, current or error-free, free of viruses or other harmful components, meets your requirements, or that defects in the NFT, or its supporting systems or technology, will be corrected.
    THE NFT IS PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. TO THE FULLEST EXTENT PERMISSIBLE BY APPLICABLE LAW, IN NO EVENT SHALL THE COMPANY BE LIABLE TO YOU FOR ANY PROPERTY DAMAGE, LOST PROFITS, COST OF SUBSTITUTE GOODS OR SERVICES, LOSS OF DATA, LOSS OF GOODWILL, COMPUTER AND/OR DEVICE OR TECHNOLOGY FAILURE OR MALFUNCTION, OR FOR ANY FORM OF DIRECT OR INDIRECT DAMAGES, AND/OR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES BASED ON ANY CAUSES OF ACTION WHATSOEVER RELATED TO THE NFT, INCLUDING BUT NOT LIMITED TO THE CONTENT, ANY TECHNOLOGY AND/OR PARTIES RELATED TO THE STORAGE OF THE NFT AND/OR ITS TRANSFERS, INCLUDING BUT NOT LIMITED TO BLOCKCHAIN, WALLET AND/OR THE PLATFORM.
    THE OWNER AGREES THAT THIS LIMITATION OF LIABILITY APPLIES WHETHER SUCH ALLEGATIONS ARE FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, OR FALL UNDER ANY OTHER CAUSE OF ACTION, REGARDLESS OF THE BASIS UPON WHICH LIABILITY IS CLAIMED AND EVEN IF A DISCLAIMING PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE.
    THE OWNER ACCEPTS THE INHERENT SECURITY RISKS OF PROVIDING INFORMATION AND DEALING ONLINE OVER THE INTERNET AND AGREES THAT THE COMPANY HAS NO LIABILITY OR RESPONSIBILITY FOR ANY BREACH OF SECURITY UNLESS IT IS DUE TO ITS OWN NEGLIGENCE.

 

ASSUMPTION OF RISK

The Owner acknowledges that NFTs ARE STILL AN EMERGING TECHNOLOGY, NOT SPECIFICALLY REGULATED. THEY ARE NOT BACKED BY ANY GOVERNMENT. THEY ARE SUBJECT TO ALL USUAL RISKS OF INTERNET-NATIVE ASSETS.
The Owner especially agrees that he/she assumes the following risks:

  1. To the extent there is a price or market for a blockchain asset such as an NFT, such markets and prices are extremely volatile, and there is no guarantee that your NFTs will have or retain any value;
  2. There are risks associated with using Internet-native assets (e.g., non-fungible tokens, cryptocurrencies, etc.) including, but not limited to, the risk of hardware or software failures, Internet connections, and the risk that third parties may obtain unauthorized access to information stored within The Owner Wallet or elsewhere, and the Company will not be responsible for any of these;
  3. Upgrades, changes of failure of the Platform or the blockchain used, may have adverse effects on all assets using such technologies, including the NFT;
  4. The risk of losing access to the NFT due to loss of private key(s), custodial error or purchaser error;
  5. The risk of mining attacks;
  6. The risk of hacking, security weaknesses, fraud, counterfeiting, cyber-attacks and other technological difficulties;
  7. The risk of changes to the regulatory regime governing blockchain technologies, cryptocurrencies,and tokens and new regulations, unfavorable regulatory intervention in one or more jurisdictions or policies any of which may materially adversely affect the use and value of the NFT;
  8. The risks related to taxation.
    No communication from the Company should be considered financial advice.
    The Owner acknowledges that he/she has obtained sufficient information to make an informed decision to own the NFT and The Owner understands and agrees that he/she is solely responsible for determining the acceptability of these risks for him/herself.

 

ELIGIBILITY

The Owner represents and warrants that he/she has the right and authority to enter into this Agreement, are fully able and competent to satisfy the terms, conditions, and obligations herein, and especially that he/she of age to enter into such Agreement under the law of your country of residence.

 

INDEMNITY

The Owner will defend, indemnify, and hold the Company from any claims, actions, suits, losses, costs, liabilities, and expenses (including reasonable attorneys’ fees) relating to or arising out of his/her license, Transfer or possession of the NFT, including: (1) his/her breaches of this Agreement; (2) his/her violation of any law or the rights of a third party; (3) any other activities in connection with the NFT.

 

GOVERNING LAW

This Agreement and all matters related to it and/or the NFT shall be governed by Swiss Law.

 

TRANSLATIONS

If the Owner is provided a translation of this Agreement, the original version in English will prevail.

 

CHANGES

The Company reserves the right to change or modify this Agreement at any time and at its sole discretion. The updated version would apply to all Transfers following the update.

 

SEVERABILITY

If any provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement or render unenforceable such provision in any other jurisdiction.

 

BLOCKCHAIN

The choice of the Blockchain will be communicated on a second stage. We invite you to keep follow the instructions that will be released per email and on the official website.

 

CONTACT US

If the Owner has any questions or concerns, he/she can contact us via e-mail at socialmedia@frederique-constant.com