NFT License

Acceptance

Welcome to the Psychedelic Puppet Show!

Psychedelic Puppet Show (“PPS”) is a not-for-profit corporation incorporated under the Canada Not-For-Profit Corporations Act.

By acquiring a PPS NFT, you (“NFT Holder”) expressly acknowledge and agree to be bound by (i) the terms of this NFT License, (ii) the PPS Terms of Service, and (iii) the Privacy Policy, all of which are incorporated herein by reference and may be updated from time to time. If there are inconsistencies between this document and the PPS Terms of Service or Privacy Policy, the provisions of those documents shall prevail over this NFT License.

Intellectual Property

Holding a PPS NFT does not grant any rights, title, or interest in the intellectual property associated with the PPS NFT, including, but not limited to, copyright, trademark, design rights, and all other intellectual property rights (“PPS IP”) The PPS IP remains with its owner, whether PPS or the original artist.

The NFT Holder may not publish, reproduce, distribute, create derivative works, or commercially exploit the PPS IP, except as set out in this NFT License.

Grant of Rights

The rights granted to the NFT Holder are intended to match the rights available to an owner of a physical artwork. Specifically, the NFT Holder has the right to:

i. Display the PPS NFT in a public setting.

ii. Transfer, trade, or resell the PPS NFT.

iii. Exhibit the PPS NFT in a personal or public setting.

iv. Loan or lease the PPS NFT for exhibition in a personal or public setting.

v. Charge admission or other fees to attend an exhibition of the PPS NFT, or allow a borrower or lessor to do the same.

vi. Destroy or otherwise dispose of the PPS NFT.

In exercising the rights above, the NFT Holder must include the attribution information associated with the PPS NFT in any public display, or require that borrowers or lessors do the same.

No Commercial Use

Except as expressly permitted in this NFT License, the NFT Holder may not commercially exploit the artwork for any purpose, including, but not limited to, creating and selling merchandise, prints, or other reproductions, without the express written permission of the owner of the PPS IP.

No Modification of Artwork

The PPS IP holder does not relinquish moral rights in the PPS IP. The NFT Holder may not modify, distort, or otherwise alter the PPS NFT or the PPS IP.

Transfer or Resale

Ownership of the PPS NFT may be transferred or resold. Upon transfer, all rights under this license automatically transfer to the new NFT Holder, and the previous NFT Holder relinquishes all rights. Except as permitted under this NFT License, the rights granted are non-sublicensable and are only transferrable by transfer of the PPS NFT.

Resale Royalty

Upon any transfer, sale, or other disposition of the PPS NFT for consideration (each, a “Transfer”), the transferor shall pay PPS a royalty equal to 10% of the gross proceeds received from such Transfer, including the value of any non-monetary consideration (“Royalty”). If it is not automatically collected and paid by the platform the Transfer was made on, the Royalty is payable by the transferor immediately at the time of transfer, and is due no later than 7 days from the time of transfer.

Termination

If the NFT Holder breaches any term of this license, PPS shall have the right to immediately terminate this license and all rights granted hereunder and may seek any and all remedies available at law or in equity.

Governing Law

This license shall be governed by and interpreted in accordance with the laws of the province of British Columbia, Canada, unless otherwise agreed in writing.

No Warranty

The PPS NFT is provided “as is” without warranty of any kind, express or implied. PPS disclaims all liability for any loss, damage, or claim arising from the use or ownership of the PPS NFT.