Licensing Rights

Licensing Rights to Art and NFT Sports Zone IP

NFT Owner Licensing Rights

NFT Sports Zone hereby grants all owners revocable, non-exclusive, non-sublicensable, non-assignable, non-transferrable, and non-exclusive license to use the Art and NFT Sports Zone IP associated with Your NFT to create artwork ("Owner-Created Artwork") for display on tangible merchandise (hats, shirts, etc.) distributed and manufactured through NFT Sports Zone licensees and other approved channels of distribution and manufacturing. Reasonable cause to deny the use of the Owner-Created Artwork shall include Owner-Created Artworks the violate the "Restrictions on Use" set forth in Restrictions of Use or conflict with an existing NFT Sports Zone sponsorships.

As consideration for the commercial use of Owner-Created Artwork set forth above, NFT owners hereby assign and transfer to NFT Sports Zone, on a definitive, irrevocable, exclusive and worldwide basis (the "Assignment and Transfer"), all right, title and interest in, to and under, and any and all intellectual property rights arising out of, relating to or derived from the Owner-Created Artwork in perpetuity, including (i) any and all rights to reproduce all or part of the Owner-Created Artwork (adapting rights included), using any and all methods now in existence or hereinafter discovered, without limitation; and (ii) any and all rights to represent all or part of the Owner-Created Artwork using any methods now in existence or hereinafter invented, without limitation.

NFT owners forever quitclaim and disclaim any right, title or interest in, to and under any intellectual property related to or derived from the Owner-Created Artwork (in whole or in part) and hereby waive any and all moral rights of any kind arising in any jurisdiction throughout the world in perpetuity, including "droit moral," with respect to the Owner-Created Artwork.

NFT owners agree that NFT Sports Zone shall have sole and absolute discretion concerning all advertising, promotional, marketing and commercialization activities, including the conceptualization and execution of the same, relating to the Owner-Created Artwork. Further, if NFT owners possess any such rights that cannot be assigned to NFT Sports Zone, NFT owners waive the enforcement of such rights against NFT Sports Zone and/or third parties authorized by NFT Sports Zone and if NFT owners have any rights that cannot be assigned or waived, NFT owners hereby grant to NFT Sports Zone an exclusive, irrevocable, perpetual, worldwide, fully paid license, with the right to sublicense, to such rights.

This Assignment and Transfer is granted for the whole world and shall remain in force for the entire term of protection as granted currently and subsequently by United States and foreign laws.

In connection with the Assignment and Transfer, NFT Sports Zone and/or third parties authorized by NFT Sports Zone shall be fully entitled to use, incorporate, develop, adapt, decline, manufacture, distribute, sell and promote, by any and all means (including but not limited to merchandising, advertising, public and press relations and press releases), all or part of the Owner-Created Artwork, subject to the payment of the Owner-Created Royalty (defined below).

NFT Sports Zone shall have the irrevocable and exclusive right throughout the world to apply to register and to own the registration of any and all intellectual property arising out of, relating to and/or derived from the Owner-Created Artwork (in whole or in part), and NFT owners consent to NFT Sports Zone’s right to register such intellectual property. Each applicable NFT owner undertakes, if the case should arise, to execute, and/or furnish all documents requested by NFT Sports Zone and do any such further acts that shall be required in order for NFT Sports Zone to secure such rights, as requested by and at the expense of NFT Sports Zone.

Furthermore, any and all copyrightable Owner-Created Artworks shall be a Work Made For Hire (as such phrase is defined under the U. S. Copyright laws, 17 U.S.C. § 101 et seq.) owned by and for the benefit of NFT Sports Zone.

NFT owners expressly waive any right to require that their names be included or placed on any Owner-Created Artwork or used in connection with any promotional media, except for material in the public domain or obtained with permission from NFT Sports Zone, each NFT owner represents and warrants that each element of the Owner-Created Artwork is original material created by such NFT owner. Each NFT owner further represents and warrants that the Owner-Created Artwork does not infringe the copyright, trademark, patent, moral rights (droit moral), right of privacy, right of publicity or any other right of any third party or contain any defamatory material.

NFT Sports Zone shall remit to the NFT owner who submitted the applicable Owner-Created Artwork a royalty (the "Owner-Created Royalty") equal to eighty (80%) percent of the net profit received by NFT Sports Zone from the sale of the merchandise featuring the Owner-Created Artwork. In the event more than one Owner-Created Artwork is used in connection with a piece of merchandise, the Owner-Created Royalty shall be split proportionately between the applicable NFT owners.

It is hereby acknowledged and agreed that the foregoing license only lasts for as long as a NFT owner remains the lawful owner and holder of a particular NFT. Upon sale or transfer, any and all rights associated with the NFT, including the right to receive the Owner-Created Royalty, shall transfer to the receiving NFT owner, and the transferor shall no longer have the benefits of any rights to use the Art or NFT Sports Zone IP or to receive any Owner-Created Royalty. Notwithstanding the termination of the Owner-Created Royalty, NFT Sports Zone shall continue to have the right to exploit the Owner-Created Artwork for any and all purposes, by any and all means, as permitted and authorized herein, subject to paying the NFT owner of the Owner-Created Royalty.

THE OWNER-CREATED ROYALTY SHALL ACCRUE AND BE ACCOUNTED FOR ON A SEMI-ANNUAL BASIS WITHIN SIXTY (60) DAYS FOLLOWING THE PERIODS ENDING JUNE 30 AND DECEMBER 31 OF EACH YEAR. SUCH OWNER-CREATED ROYALTY SHALL BE PAYABLE TO THE NFT OWNER OF RECORD ON THE DATE SUCH ACCOUNTING AND/OR STATEMENT ARE ISSUED. FOR THE AVOIDANCE OF DOUBT, THE OWNER-CREATED ROYALTY DOES NOT ACCRUE UPON SALE OF THE MERCHANDISE FEATURING THE OWNER-CREATED ARTWORK. MOREOVER, UNDER NO CIRCUMSTANCES WOULD THE OWNER-CREATED ROYALTY BE PAYABLE TO MORE THAN ONE NFT OWNER.

The Owner-Created Royalty is solely applicable to uses of the Owner-Created Artwork in connection with the design, manufacture, sale and distribution of official tangible NFT Sports Zone merchandise (i.e. real-life merchandise) and shall not include the design, manufacture, sale and distribution of any virtual wares, NFT’s or other digital creations. Notwithstanding the foregoing, nothing contained herein shall limit the Assignment and Transfer (defined below) or NFT Sports Zone's right to use, incorporate, develop, adapt, decline, manufacture, distribute, sell or promote, for any and all purposes, by any and all means, the Owner-Created Artwork subject to the payment of the Owner-Created Royalty.

Notwithstanding the foregoing, it is hereby acknowledged and agreed that NFT Sports Zone owns and retains all title, interest, rights in and to the Art and NFT Sports Zone IP. Without limitation, NFT owners shall not (except as permitted), nor permit any third party to do or attempt to do any of the following without express prior written consent from NFT Sports Zone: (i) modify the Art or NFT Sports Zone IP; (ii) use the Art or NFT Sports Zone IP to advertise, market, or sell any product or service; (iii) use the Art or NFT Sports Zone IP in any other form of media, except solely for the NFT owners’ own personal, non-commercial use; (iv) sell or distribute for commercial gain (including, without limitation, giving away in the hopes of eventual commercial gain), the Art or NFT Sports Zone IP or otherwise commercialize merchandise that includes, contains, or consists of the Art or NFT Sports Zone IP; or (v) otherwise utilize the Art or NFT Sports Zone IP for any third party’s commercial benefit.

All rights not expressly granted to You are expressly reserved by NFT Sports Zone.