NFT Service Terms
1. NFT Services. Custodial Accounts and Wallet Services may be used to support any Supported NFTs. These additional services shall be referenced herein as the “NFT Services”. “Supported NFTs” shall mean tokens representing ownership of a unique blockchain-based digital asset complying with the ERC-721, ERC-1155, or other “non-fungible” token standard on Ethereum or another blockchain network that Trust Company elects to support as part of these NFT Services. The Supported NFTs shall be deemed Digital Assets (as defined in the Agreement).
2. NFT Service Fees. NFT transactions will not result in transaction fees that are applied to outgoing transactions. The providing BitGo Entity (defined below) reserves the right to change fees attributable to NFT Services (the “NFT Service Fee”) at any time. The BitGo Entity will provide Client with at least 30 days’ notice of any changes to the NFT Service Fee and Client will have the right to discontinue the use of NFT Services up to the day prior to the changes taking effect.
3. Acknowledgement of Risks. Without limitation of the Agreement, Client understands and agrees that: (a) no BitGo entity or service provider (each, a “BitGo Entity”) screens, evaluates, pre-vets, guarantees the functionality of, or provides assurance of any kind regarding any Supported NFT (or its underlying smart contract, NFT collection, or related price data from third parties); (b) no BitGo Entity shall be liable for any errant or unexpected behavior of a NFT smart contract; (c) specific protocols related to each NFT may differ and it is Client’s sole responsibility to to be aware of, and consider the differences between, the various protocols and to send only Supported NFTs as part of the NFT Services; (d) Client’s continued use of NFTs may depend on elements beyond a BitGo Entity’s control, including applicable protocols; and (e) Client is solely responsible for complying with applicable laws in relation to its ownership and use of its NFT holdings. The BitGo Entity reserves the right to discontinue supporting any NFT due to legal, regulatory or reputational reasons (as determined by each BitGo Entity in its discretion), and on written notice to Client, Client agrees to promptly retrieve any such NFTs.
4. Account Statements. For NFT Services provided by Custodian, each account statement will identify each Supported NFT in Client’s Custodial Account at the end of the period and set forth all transactions in Client’s account during that period. If necessary to value Supported NFTs, the relevant BitGo entity will electronically obtain USD equivalent prices from digital asset market data providers or other sources, with amounts rounded up to the seventh decimal place to the right. No BitGo entity guarantees the accuracy or timeliness of prices received and the prices are not to be relied upon for any investment decisions for Client or its account.
5. Intellectual Property. Without limitation of the Agreement, Client will indemnify, defend and hold harmless the BitGo Entities from and against any liabilities, damages, losses, costs and expenses, including but not limited to attorneys' fees and costs arising from a third party claim that any Supported NFT deposited in connection with Services, or BitGo Entity’s provision of the NFT Services in relation to a particular NFT, infringe any trademark, patent, copyright or other intellectual property right.
6. Sanctions. Client represents and agrees that NFTs deposited in connection with Services are not sourced or obtained from any individual or entity that is, or is owned or controlled by persons that are: (i) the subject of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), or (ii) located, organized or resident in a country or territory that is, or whose government is, the subject of Sanctions (including Crimea, Cuba, Iran, North Korea and Syria) (a “Sanctioned Country”).
(7/22).