Terms & Conditions

Last changed: 2023-06-30

1. General Provisions I Scope
2. Amendments to Terms
3. Licensing I Conveyed Rights to Users
4. Becoming a Creator
5. Whitelisting the Creator Wallet and Creating NFTs
6. Transaction Fees and ‘Gas-Station’
7. User Obligations
8. Maintenance and Updates
9. Content and Content Rights
10. Copyright Policy and Measures
11. Duration and Termination
12. Liability and Indemnities
13. Risks
14. Data Protection
15. Notifications
16. Online Dispute Resolution
17. Miscellaneous

 

1. General Provisions I Scope

• OwnerChip GmbH with its seat in Vienna and the business address Gertrude-Fröhlich-Sandner Straße 2-4, 1100 Vienna, Austria, registered in the commercial registry of the Commercial Court Vienna under FN 591426 w (“OwnerChip“) provides NFC (near field communication) chips which can be affixed to various physical objects (“Chips“). Further, OwnerChip provides an application for both the initialization of Chips, the subsequent creation (minting) of unique digital twins for physical objects in the form of so-called ‘non-fungible tokens’ via blockchain technology (“NFTs“) and the reading of Chips and display of information recorded in relation to NFTs and digital twins (“Ownerchip App“).
• These general terms (“Terms“) apply to all contracts concluded in relation to the use of the OwnerChip App and the demo-application “OwnerChip Discovery App” (both Apps collectively also “OwnerChip Apps“). The “Parties” of contractual relationships established in relation to the OwnerChip Apps are OwnerChip, as licensor, and the user of the OwnerChip Apps, each a licensee. A User, who is authorized to create NFTs is referred to as “Creator“. A user, who is not authorized to create NFTs is referred to as “Viewer” (Creators and Viewers collectively referred to as “Users“).
• These Terms apply to Users which qualify as “Consumers” in the meaning of Art 2 no 1 of the Directive 2011/83/EU (Consumer Rights Directive) and the Austrian Consumer Protection Act (Konsumentenschutzgesetz) as well as Users who qualify as “Business Clients“. Where clauses of these Terms apply only to Consumers or Business Clients, this is expressly indicated. For Business Clients, individual agreements, if any, concluded by OwnerChip and the respective Business Client apply additionally to these Terms:
• OwnerChip concludes licensing contracts in relation to the OwnerChip Apps exclusively subject to these Terms in their most recent applicable version at contract conclusion. By downloading and using the OwnerChip Apps, Users agree to be bound by these Terms, including additional terms and conditions and policies referenced herein or available by hyperlink, making these Terms mutually agreed and applicable to the contract concluded. Users have the possibility to carefully study these Terms before entering into a contract. Further, these Terms are provided electronically and in a manner that allows for simple storage on a permanent data carrier.
• General terms and conditions of third parties, such as of Users, shall only apply in the event of an express separate written confirmation by OwnerChip. This also applies in the event that a User bases the conclusion of a contract on own terms and conditions, even if OwnerChip does not object to such third-party terms upon knowledge.

2. Amendments to Terms

• Changes to and amendments of these Terms, including this point, may be made by OwnerChip at any time and become effective,
  • if no specific effective date is indicated by OwnerChip: at the earlier of (i) the User explicitly accepting the amended Terms or (ii) two (2) months having passed after publishing such changes or amendments (e.g. by sending a copy to Users per e-mail), subject to the Users not objecting under clause 2.2; respectively
  • if a specific effective date (after the publish date) is indicated by OwnerChip: at the later of (i) the specified effective date and the (ii) earlier of (a) the User explicitly accepting the amended Terms or (b) two (2) months having passed after publishing such changes or amendments (e.g. by sending a copy to the User per e-mail), subject to the User not objecting under clause 2.2.
• Users’ consent shall be deemed granted if the User does not object in writing or electronically (e.g. by e-mail). In the amendment offer, the User is informed that (i) its silence by failing to object in writing or electronically (e.g. by e-mail) within the deadline as set out in clauses 2.1.1 and 2.1.2 shall be deemed as consent to the amendments, as well as that (ii) the User shall have the right to terminate its contract and the services agreed under the contract without notice until the amendments take effect.
• An increase in fees or a limitation of OwnerChip’s services in the Terms can only be affected with the express consent of the Consumers. Further, vis-à-vis Consumers and unless express consent is obtained, changes to the Terms shall in any case be minor and reasonable for the Consumer, shall not affect any main service obligations and shall only affect changes that are necessary and objectively justified in order to offer OwnerChip services in the best possible way and to protect User’s interests.

3. Licensing I Conveyed Rights to Users

• Viewer License. Subject to Viewer’s compliance with these Terms, OwnerChip grants to Viewers a limited, non-exclusive, non-transferable, non-assignable non-sublicenseable license to download and install a copy of the OwnerChip Apps on a mobile device and to run such copy solely for Viewer’s own personal non-commercial purposes.
• Creator License. Subject to Creator’s compliance with these Terms, OwnerChip grants to Creators a limited, non-exclusive, non-transferable, non-assignable non-sublicenseable license to download and install a copy of the OwnerChip Apps on a mobile device and to run such copy solely for Creator’s own personal non-commercial purposes.
• Restrictions. Except as expressly permitted in these Terms or under applicable law, Users may not: (a) copy, modify, or create derivative works based on OwnerChip Apps; (b) distribute, transfer, sublicense, lease, lend, or rent the OwnerChip Apps to any third party; (c) modify, reverse engineer, decompile, or disassemble the OwnerChip Apps; or (d) make the functionality of OwnerChip Apps available to multiple users through any means. OwnerChip reserves all rights in and to the OwnerChip Apps that are not expressly granted to Users under these Terms.
• Limitations. OwnerChip may make the use of the OwnerChip Apps or individual functions of the OwnerChip Apps or the extent to which individual functions can be used subject to certain conditions, such as verification of registration data, duration of use, payment behavior or dependent on the presentation of certain evidence (e.g. proof of identity). In particular, OwnerChip may restrict the activities of a User under certain conditions.

4. Becoming a Creator

• Creator Account. Persons interested in using the OwnerChip App to create NFTs as digital twins mandatorily need to create a user account for the OwnerChip App (“Creator Account”) by completing the registration process and providing OwnerChip with valid, correct and up-to-date information, such as their name (first and surname), postal address, e-mail address and a valid wallet address. Persons having successfully completed the registration process (which is confirmed by OwnerChip) are referred to as Creators.
• No Acceptance Guarantee. There is no guarantee that a specific person can successfully complete the registration process even if the relevant Creator has provided all information requested by OwnerChip. Reasons for this may include, but are not limited to, legal restrictions or economic considerations.
• Acting solely in Own Name and Behalf. Creators may not act on behalf of another person. The registration of a legal entity or partnership for the OwnerChip App may only be carried out by a natural person authorized to represent the entity or partnership, who must be named. In the case of registration of natural persons in the OwnerChip App, only individual persons may be specified as the owner of the Creator Account. It is forbidden to act as an intermediary of any kind or broker of any kind or trustee of any kind for any person (including shared legal or beneficial ownership of the Creator Account or to allow access of any kind to the Creator Account to any person other than yourself. The access restriction does not apply in cases, where the respective Creator as a legal entity granted its management the corresponding access permission. OwnerChip may demand proof of such permission (e.g. a written permission of the Creator).
• No Transfer of Creator Account. Creators may not transfer their Creator Account (neither by sale, donation or otherwise) to any other person.
• No Transfer of Rights. Creators may not assign or transfer any of the rights under these Terms to any third party without the prior explicit consent of OwnerChip.
• Notification Obligation and Fictitious Delivery. Creators are obliged to update the information in their Creator Account without undue delay. For as long as Creators do not notify OwnerChip about a new e-mail address or mailing/postal address, declarations from OwnerChip shall continue to be sent to the previous e-mail address or mailing/postal address. Declarations delivered to the previous address shall be deemed delivered to the Creator, if OwnerChip was neither (i) aware of an amendment to the e-mail address or mailing/postal address; nor (ii) unaware of such an amendment due to gross negligence of OwnerChip.

5. Whitelisting the Creator Wallet and Creating NFTs

• NFT Creation. The OwnerChip App offers the service to create NFTs through a digital process. While creating a NFT, the Creator can irreversibly include digital content into the NFT. OwnerChip will facilitate this technological process for the Creator. Thus, OwnerChip will support the Creator and create the NFT on behalf of the Creator. OwnerChip is entitled to use third party service providers to do so.
• Creator Wallet. In order to create NFTs via the OwnerChip App, Creators need to use a supported custodial or non-custodial electronic wallet attributable to them, which will enable them to mint and store NFTs through the OwnerChip App (“Creator Wallet”).
• Whitelisting. Creators need to submit their public wallet-address for the Creator Wallet to OwnerChip for the purposes of whitelisting. In particular, the functionalities of Chip initialization and NFT minting are only accessible after completion of the whitelisting process for the Creator Wallet by OwnerChip. As part of the whitelisting, an appropriateness check and a check under money laundering law may be carried out. The outcome of these checks may result in Creators not being permitted to create NFTs via the OwnerChip App.
• Security Measures. Creators must secure and protect the private key of their Creator Wallet. Creators are solely and exclusively responsible for the security and accessibility of their Creator Wallet and OwnerChip assumes no responsibility or liability of any kind in relation to Creator’s Creator Wallets. Creators are obliged to inform OwnerChip immediately, if there are indications that their Creator Wallet has been breached or is subject to illicit activities including cybercrime.
• No Acceptance Guarantee. There is no guarantee that Creator Wallets can successfully complete the whitelisting process, even if the relevant Creator has provided all information requested by OwnerChip. The reasons for this may include, but are not limited to, legal restrictions or economic considerations.
• Correctness of Creator Wallet. Creators are solely responsible to provide the correct and accurate Creator Wallet to OwnerChip for whitelisting and acknowledge, that notifying an incorrect Creator Wallet to OwnerChip entails that any NFT will be transferred to such address, the NFT will be irretrievable and the transaction cannot be reversed. OwnerChip assumes no liability for incorrect information of Creators provided in relation to their Creator Wallet.
• Storage and Availability. NFTs are not stored, sent or received via the OwnerChip App. NFTs exist only by virtue of the digital record maintained on the Supported Blockchains and are stored in a decentralized Peer-to-Peer Network, the InterPlanetary File System (“IPFS”). The digital twin, which is directly connected to the NFT, will be hosted via the IPFS Network and will be available via the IPFS Network. OwnerChip does neither guarantee nor warrant any future availability of IPFS or the blockchain network of Supported Blockchains (as defined below). Thus, the irreversible loss of the NFT is possible.
• Security. OwnerChip is not liable and assumes no responsibility for the security of Creator Wallets, the effectiveness of transfers of minted NFTs or storage and makes no representation or warranty as to the security of any transmission, storage or transaction to or from any third-party device, software or platform.

6. Transaction Fees and ‘Gas-Station’

• Supported Blockchains. OwnerChip currently only supports the Ethereum blockchain and the Polygon blockchain (“Supported Blockchains”). Creators may freely choose between Supported Blockchains when using the OwnerChip Apps. OwnerChip is under no obligation to expand its portfolio of Supported Blockchains. Also, OwnerChip reserves the right to adapt the list of Supported Blockchain and also discontinue certain Supported Blockchains at its sole discretion at any time.
• Changes to Supported Blockchains. Creators acknowledge that the Supported Blockchains are frequently updated and they are subject to ‘forks’ and other changes which may impact the ability of the OwnerChip Apps. OwnerChip reserves the right to determine in its sole discretion whether, how, and when to accommodate changes to the Supported Blockchains, including, without limitation, switching to alternative forms of blockchains.
• Transaction Fees. When Users create (mint), transfer or delete (burn) NFTs via the OwnerChip App, transaction fees (so-called ‘gas fees’) (“Transaction Fees”) apply in an amount depending on the respective Supported Blockchain. Transaction Fees are borne exclusively by Users and are displayed to Users before initializing the minting process. OwnerChip does not assume any liability for Transaction Fees.
• Gas-Station. OwnerChip offers the optional additional service of a so-called “Gas-Station”. In the course of the service Gas-Station OwnerChip bears the Transaction Fees for the Users. The availability and limit of the Gas-Station depends on the purchased product package by the respective User, as displayed in the OwnerChip App. OwnerChip is under no obligation to provide the Gas-Station service on an ongoing basis or extend such service to other blockchain technologies. OwnerChip relies on third parties to facility transactions and does not guarantee any availability of the Gas-Station.

7. User Obligations

• Users shall
  • ensure prompt execution of any contracts (Verträge) and declarations (Erklärungen) and render forthwith any assistance required or reasonably requested by OwnerChip in the course of making available to Users the services of OwnerChip Apps.
  • immediately report all defects or other problems with OwnerChip Apps or transactions associated therewith which Users either cause or are made aware of and shall support OwnerChip in remedying the problem, in accordance with OwnerChip’s guidance and to the extent reasonable possible.
  • immediately report to OwnerChip any knowledge or suspicion of theirs about any actual or potential copyright infringements, violent, sexually suggestive, discriminatory, unlawful, infringing, hateful, pornographic or in any other way potentially inappropriate content for an audience in the OwnerChip Apps or elsewhere, provided that these circumstances relate to one (or more) NFT(s).
  • without undue delay update via the OwnerChip App or notify OwnerChip about any changes to their personal data (name, mailing/postal address, principal residency (Hauptwohnsitz) / corporate seat (Geschäftsadresse), e-mail address). The same applies if Creators notice that – for whatever reason – their personal information displayed on the OwnerChip App does not conform with the documents and information provided by them to OwnerChip.
  • ensure that they as Users keep the access to their wallet secure and keep their private key confidential at all times.
  • at all times ensure that the OwnerChip Apps, their internet browser and the underlying operating systems are always kept up to date to – amongst others – ensure that all security patches and updates are installed.
  • notify OwnerChip without undue delay about the commencement of dissolution, insolvency, restructuring, winding up or similar proceedings in any applicable jurisdiction as well as about the termination of the legal entity.
• No Obligation to Act or React. OwnerChip provides no guarantee or undertaking to react within a certain timeframe when Users provide to OwnerChip any information or document unless such timeframe is explicitly set out in these Terms. In particular, the completion of the whitelisting process for Creator Wallets may take several business days.
• Monitoring. Although OwnerChip is not obliged to monitor access to or use of the OwnerChip Apps or Content or to review or edit any Content, OwnerChip has the right to do so for the purpose of operating the OwnerChip Apps, to ensure compliance with these Terms, and to comply with applicable law or other legal requirements. OwnerChip reserves the right to remove or disable access to any Content, at any time and without notice. OwnerChip may remove any Content considered to be objectionable or in violation of these Terms. OwnerChip has the right to investigate violations of these Terms or conduct that affects the OwnerChip Apps. OwnerChip may also consult and cooperate with law enforcement authorities to prosecute Users and others who violate the law.

8. Maintenance and Updates

• Maintenance. Technology-based systems like OwnerChip Apps need (planned and unplanned) maintenance work and development work and for such work interruptions of the systems (planned and unplanned) are necessary and system immanent. During the period of such interruption, the use of the OwnerChip Apps may be restricted or not possible and therefore the creation of NFTs may also be temporarily impossible. OwnerChip does not warrant any specific response or resolution times.
• Planned Maintenance. Planned maintenance work, updates or upgrades that not only temporarily restrict the functioning of OwnerChip Apps or cause them to fail will be communicated to Users in a suitable manner (for example, by email) in a reasonable amount of time in advance. Such maintenance work will be completed as soon as possible.
• Unplanned Maintenance. Unplanned maintenance work that is necessary due to technical defects or force majeure will be carried out as soon as possible.

9. Content and Content Rights

• Content

Subject to Users’ compliance with these Terms, OwnerChip grants Users a personal, non-commercial, non-exclusive, non-transferable, non-sublicensable, revocable, limited license to download, view, display, and use the Content solely for permitted use within the OwnerChip Apps. “Content” means the text, software, scripts, graphics, photos, sounds, music, videos, audiovisual combinations, communications, interactive features, works of authorship of any kind, and information or other materials that are generated, provided, or otherwise made available through the OwnerChip Apps, including User Content. “User Content” means any Content a User of a OwnerChip App provides to be made available through the OwnerChip Apps and our Website.

• Intellectual Property Rights

OwnerChip does not claim ownership rights in User Content and nothing in these Terms restricts any rights that Users may have to use and exploit their User Content. Subject to the foregoing, OwnerChip exclusively owns all rights, title, and interest in and to the OwnerChip Apps and Content, including all associated intellectual property rights. Users acknowledge that OwnerChip Apps and Content are protected by copyright, trademark, and other laws of Austria and the European Union as well as foreign countries. Users agree not to remove, alter, or obscure any copyright, trademark, service mark, or other proprietary rights notices incorporated in or accompanying the OwnerChip Apps or Content.

• User Content License

By providing User Content in the OwnerChip App or OwnerChip Website, the Creator grants to OwnerChip a worldwide, indefinite, non-exclusive, royalty-free, sublicensable, perpetual, and transferable license to host, publish, display, perform, reproduce, copy, distribute, communicate, modify, reformat, edit, translate, or otherwise use User Content (including images, text, content, files, communications, and other User Content provided) to create (mint) NFTs, host (display) the NFT and content connected thereto via the OwnerChip Apps as well as to use the User Content for purposes of demonstration, promotion and marketing for OwnerChip and its services.

• Responsibility

Creators are solely responsible for all their User Content and represent and warrant that they own all their User Content or have all rights that are necessary to grant to OwnerChip the license rights in relation to their User Content under these Terms. Users also represent and warrant that neither their User Content, nor their use and provision of User Content to be made available through the OwnerChip Apps or Website, nor any use of their User Content by OwnerChip on or through the OwnerChip Apps or Website will infringe, misappropriate or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.

10. Copyright Policy and Measures

• General Purpose. OwnerChip strives to prevent, track and eliminate any infringement of copyrights occurring on the OwnerChip Apps or in connection therewith. OwnerChip will do what is reasonably possible to achieve this goal but OwnerChip makes no guarantee to take any specific action or towards any success of the actions taken.
• Preventive and Reactive Measures. OwnerChip will take reasonable preventive measures against copyright infringements and Users will support OwnerChip. OwnerChip neither guarantees to take any specific technical or legal measures nor guarantees the success of any actions taken. Further, OwnerChip will promptly respond to clear notices of alleged copyright infringements.
• Right to Remove Content. OwnerChip reserves the right to remove content and take whatever action it deems reasonably appropriate in relation to this content, if OwnerChip receives a properly submitted notification or takes notice itself of a potential (claimed) intellectual property right infringement, any violation of morality or any other violation of the Terms.
• No Unethical or Illegal Content. It is strictly forbidden to post, mint and/or in any other way distribute unethical and/or illegal content via the OwnerChip Apps. OwnerChip reserves the right to deny the minting of a NFT and/or the hosting of content, if OwnerChip reasonably believes that this content on its own or in connection with other/further information or content is violent, sexually suggestive, discriminatory, unlawful, infringing, hateful, pornographic or in any other way might be inappropriate for an audience. In these cases, OwnerChip is entitled to remove NFT metadata from without any prior notice to the Creator.

11. Duration and Termination

• Ordinary termination. Except where these Terms set out different notice periods, OwnerChip and Users each may at any time terminate the entire business relationship or individual parts thereof by giving one (1) month notice. However, OwnerChip – at its sole discretion – may accept an ordinary termination without giving notice.
• Extraordinary termination. OwnerChip or a User may at any time, without a notice period and with immediate effect terminate the entire business relationship or individual parts thereof for cause. OwnerChip reserves the right to terminate the business relationship immediately for cause if, in particular but not limited to:
  • OwnerChip reasonably believes that a User is or has been convicted or accused of (including any reasonably documented media reports or market rumours on) any breach or violation of criminal, administrative or tax laws in any country of the world.
  • Official investigations (by any competent public authority, in particular, but not limited to, any public prosecutors in the field of criminal law or tax agents) against a User have been initiated or threatened with respect to any breach or violation of relevant criminal, administrative or tax laws in any country of the world.
  • OwnerChip does so in order to comply with any (i) applicable law (in particular for anti-money-laundering purposes) or regulation, (ii) internal guidelines based on such law or regulation, or (iii) any order or request by a court or other authority.
  • a User has breached any of its obligations under these Terms and has failed to cure such breach within 10 business days from the date of notification of such breach.
  • a User uses a Creator Account without legal entitlement to use such an account.
  • a User conceals his or her correct identity or origin of funds by providing incorrect, incomplete, outdated or misleading data to OwnerChip or to a payment service provider.
  • a User manipulates the OwnerChip Apps Systems or any other of OwnerChip’s services. Such manipulation is in particular any use of an automated system (e.g. bot) or any other tool or method which deviated from normal and typical behaviour and, hence, indicates the involvement of a certain technology, software and/or any system automating transactions in the OwnerChip Apps, except such use has been previously agreed in writing with OwnerChip.
  • a User conducts transactions in a way or uses OwnerChip Apps in a way that causes damage, disadvantages or losses for OwnerChip and/or impairs any OwnerChip service.
  • Dissolution-, insolvency-, restructuring-, winding up- or similar proceedings have commenced, in case the User is a legal entity; or the death of a User in case of natural persons.
• Suspension or Termination of Creator Accounts. In the event a Creator Account is suspended or the business relationship with Users is terminated by OwnerChip, OwnerChip shall provide Users with notice of such suspension or termination, unless it would be unlawful for OwnerChip to do so. OwnerChip is not obliged to disclose to Users any findings or information acquired by OwnerChip’s security and risk management procedures.
• Suspension Lifting. In the event OwnerChip is suspending a Creator Account, OwnerChip will lift the suspension as soon as reasonably practicable once the reasons for refusal and / or suspension no longer exist. However, OwnerChip is under no obligation to allow Creators to create NFTs at the same price or on the same terms as the suspended, reversed or cancelled transaction.

12. Liability and Indemnities

Consumers

OwnerChip shall only be liable for any damage incurred by a Consumer for itself and its vicarious agents (Erfüllungsgehilfen) – regardless of the legal reason including tort – if OwnerChip or its vicarious agents have culpably violated an essential contractual obligation (cardinal obligation) in a way that endangers the purpose of the contract or if the damage is due to gross negligence (grobe Fahrlässigkeit) or intent (Vorsatz) of OwnerChip or its vicarious agents. If the culpable violation of an essential contractual obligation (cardinal obligation) is only slightly negligent, the liability of OwnerChip is limited to such typical damage that was reasonably foreseeable for OwnerChip at the time of the conclusion of the contract. This limitation of liability also applies to the extent of damage. In the aforementioned cases, the liability for a financial loss is limited to EUR 5,000. The aforementioned limitations of liability do not apply in the absence of warranted characteristics, liability of OwnerChip according to the Product Liability Act (Produkthaftungsgesetz) or in cases of physical damage to persons (Personenschaden).

Business Clients

OwnerChip shall not be liable for any damage or loss incurred by a Business Client in connection with the OwnerChip Apps and/or the products and services offered thereon unless such damage was caused by OwnerChip with intent (Vorsatz), gross negligence (grobe Fahrlässigkeit) or in cases of physical damage to persons (Personenschaden).

Third-Party Services

When using websites or services not provided by OwnerChip, such as wallet services or any other services of any third parties (“Third Party Services”), OwnerChip shall expressly not be liable for the content, availability or performance of any Third-Party Services and shall not be liable for any damage or loss incurred by a User or any third party when using any such Third-Party Services. The User uses these services completely at its own risk. Funds sent to such third parties cannot be reverted, if these parties are not willing to. OwnerChip cannot and will not check the reliability of these third parties or any of their services. We assume no obligation to contact you or provide support to you in case of a problem with any third party or any of their services.

13. Risks

Using the OwnerChip App bears risks. In the worst-case risks may lead to the total loss of NFTs by Creators. Risks are in particular, but not limited to the following:

• Risk of Depreciation in Value, Liquidity and extreme Volatility:

NFTs are not widely regulated, do not qualify as, and thus cannot be compared to, a legal tender, security or other regulated financial product. The value of NFTs is typically determined by the current market price (if any) and there is usually no way to redeem or exchange NFTs with a central entity or for most parts to access any assets a NFT may represent. There is no guarantee as to the amount of platforms and entities as well as the conditions under which NFTs are traded for a legal tender or other assets or services. Any NFT might experience extreme volatility and/or the value of cryptographic blockchain-based digital information units might decline to zero. As additional costs with respect to regulatory or other risks might be triggered – and if such costs are added for the purpose of calculation to the value of cryptographic blockchain-based digital information units (whatever value you might give to the cryptographic blockchain-based digital information units) – cryptographic blockchain-based digital information units might also decline in their value to zero. Past performance of a certain asset does not indicate future results.

• Risk of Software Weaknesses:

The technology of NFTs in general and the underlying software applications and software platforms such as the smart contract systems and other involved software and technology and technical concepts and theories are still in an early development stage and unproven and out of OwnerChip’s control or influence. There is no guarantee or warranty that the process for receipt, use and ownership of any cryptographic blockchain-based digital information units will be uninterrupted or error-free and there is an inherent risk that the software and related technologies and theories could contain weaknesses, vulnerabilities or bugs, causing, inter alia, the complete loss of any cryptographic blockchain-based digital information units, in particular but not limited to NFT, token, Euros or any value of any cryptographic blockchain-based digital information units even if the software and systems deployed and under the control of OwnerChip function correctly. OwnerChip uses and displays customary security certificates issued by third parties (certificate authorities) that are widely regarded as a security enhancing feature but ultimately cannot guarantee that the security certificates displayed on any OwnerChip system are valid or correct.

• Regulatory and Legal Risk:

It is possible that statutory or regulatory changes have material effects on the current setup of the OwnerChip Apps which may, inter alia, result in substantial modifications to the/any cryptographic blockchain-based digital information units. OwnerChip is committed to design, modify and/or adapt the OwnerChip Apps in such a way that they comply with all applicable laws and regulations while at the same time retaining the flexibility for Users, but cannot guarantee that certain regulatory or legal changes may result in the limitation or termination of certain services on OwnerChip Apps.

• Risk of Abandonment:

The allocation of any cryptographic blockchain-based digital information units and the development of such cryptographic blockchain-based digital information units technologies might be abandoned for a number of reasons, including lack of interest from industry, community and/or the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects) which are out of OwnerChip’s influence. OwnerChip does not make any representation as to the current and future functionality, adoption or commercial success of NFTs created with the OwnerChip Apps.

• Risk of Theft and Internet Vulnerability:

The underlying software application and software platform, the OwnerChip Apps, the smart contract system(s), other involved software, other technology components and/or platforms may be exposed to electronic or physical attacks that could result in the irreversible theft or loss of NFTs or the theft or loss of private data, impacting the ability to develop, launch or use OwnerChip Apps.

• Risk of Weak and Loss of PIN:

The PIN you chose when registering a SmartCards instead of external wallets, may be subject to attacks (such as brute-force or dictionary attacks), even if it is unique and only known to you. OwnerChip recommends that you always choose a strong and unique PIN (not used in any other service). While stronger passwords are statistically (far) less likely to be successfully retrieved by an attacker, no PIN is fully safe.

• Risk of Phishing and/or Social Engineering:

SMS and e-mail services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from OwnerChip. You should always log into your connected wallet to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. Phishing attacks often occur despite SMS or e-mail or equivalent services, via search engines or ads in search engines, or other fraudulent links.

• Risk of Blockchain Mining Attacks:

As with any other public blockchain-based systems, NFTs may be susceptible to attacks including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks or any other mining or non-mining related attacks which are out of OwnerChip’s influence and control. Any successful attack presents a risk to the OwnerChip Apps, expected proper execution and sequencing of cryptographic blockchain-based digital information units transactions and expected proper execution and sequencing of software computations.

• Market and Community Risk:

There is a risk of soft and hard forks of blockchain based technologies and splitting including the broad possible changes to OwnerChip Apps which might be imposed by the market or community on OwnerChip or the OwnerChip Apps. Market and community risk may also be triggered and accelerated via communities that come together.

14. Data Protection

Personal data of Users will be processed in accordance with our privacy policy. Detailed information on the processing of personal data can be found in our privacy policy.

15. Notifications

Statements, notifications, questions and complaints of any kind shall be submitted to OwnerChip GmbH, Gertrude-Fröhlich-Sandner Str. 2-4, 1100 Vienna, Austria, e-mail: support@ownerchip.com. Statements or notifications to Users will be distributed to the most recently provided e-mail address.

16. Online Dispute Resolution

The European Commission provides a platform for online dispute resolution under http://ec.europa.eu/consumers/odr/. OwnerChip is neither obliged nor willing to participate in a dispute settlement procedure before a consumer arbitration board.

17. Miscellaneous

• No Waiver of Rights. The failure of OwnerChip to enforce or to exercise, at any time or for any period of time any term of or any right or remedy arising pursuant to or under these Terms shall not constitute, and shall not be construed as, a waiver of such term or right or remedy and shall in no way affect OwnerChip’s right to enforce or exercise it later, provided that such right is not time barred, expired or precluded.
• Performance. The place of performance is Vienna, Austria.
• Dispute Resolution. If Users need to address any issues or concerns in connection to OwnerChip, the OwnerChip Apps or its services, they can do so by contacting [support@ownerchip.com]. Both parties, Users and OwnerChip respectively, agree to undertake reasonable efforts to settle any dispute, claim, question or disagreement primary and directly through consultation and good faith negation before any party takes further legal measures.
• Governing Law. The Terms and any business relationship hereunder shall be governed by and construed in accordance with the laws of the Republic of Austria excluding the provisions of the United Nations Convention on the International Sale of Goods and excluding the conflict of law rules of Austrian private international law. For Consumers, this only applies insofar as the law of their country of residence does not grant them a more favorable legal position vis-à-vis OwnerChip in the individual case.
• Place of Jurisdiction. Any and all contractual and non-contractual disputes, divergences or claims between OwnerChip and Users shall be exclusively dealt with the court having pertinent competence for 1100 Vienna, unless in the case of Consumers consumer protection laws allow for other places of jurisdictions for Consumers.