ℹ️Terms & Conditions

Terms & Conditions last updated on: March 7th 2024

Overview

Love Monster is a collection of digital artworks (NFTs) running on the blockchain. By purchasing, accessing, or engaging with our platform, you agree to these Terms and Conditions in their entirety. You acknowledge that you are solely responsible for managing the security of your private wallet(s) and validating all transactions, including NFT purchases, token transfers, or any other related activity performed on this platform or external platforms. Any transactions conducted via the platform or other third-party platforms are at your own risk.

Please note that P360 Media Ltd, the original company responsible for the creation and initial sale of the Love Monster NFTs, has been dissolved. Maverick Metalabs Ltd, as the new entity, is now responsible for all ongoing operations, including game development and the overall Love Monster ecosystem. Any references to P360 Media Ltd in this document pertain solely to its past activities and obligations. Maverick Metalabs Ltd assumes no liability for any actions, sales, transactions, or obligations associated with P360 Media Ltd, including but not limited to prior NFT sales, purchases, or any other activities undertaken by P360 Media Ltd. Maverick Metalabs Ltd is solely responsible for future operations, obligations, and activities related to the Love Monster project.


Ownership

When you purchase a Love Monster NFT, you acquire ownership of the NFT itself, which represents the digital artwork associated with the NFT. However, it is important to note that ownership of the NFT does not transfer any intellectual property rights or ownership of the underlying artwork or any related creations. The intellectual property rights to all Love Monster art, characters, images, designs, and related assets are owned by Maverick Metalabs Ltd, who retains full copyright and other intellectual property rights. As the creator and owner of these assets, Maverick Metalabs Ltd may display, promote, or use the artwork for any purpose, including for marketing and advertising, without seeking permission from or compensating the purchaser.

For clarification:

  • P360 Media Ltd was responsible for the initial sale and distribution of Love Monster NFTs.

  • Maverick Metalabs Ltd is responsible for the development of the game, NFTs, and other related assets moving forward. The transition from P360 Media Ltd to Maverick Metalabs Ltd does not affect your ownership rights to any NFT purchased during P360 Media Ltd's operation, nor does it affect the intellectual property rights retained by Maverick Metalabs Ltd.


Personal Use

Subject to your compliance with these Terms and Conditions, Maverick Metalabs Ltd grants you a worldwide, royalty-free license to use, copy, and display the Love Monster NFT artwork you have purchased, under the following terms:

  1. Personal, Non-Commercial Use: You may use the artwork solely for your own personal enjoyment or display purposes, and not for any commercial purposes unless expressly allowed.

  2. NFT Marketplaces: You may include the purchased artwork in NFT marketplaces that facilitate the purchase and sale of Love Monster NFTs, provided that the marketplace verifies the ownership of the NFT and restricts the display of the artwork to the actual owner.

  3. Third-Party Websites/Applications: You may include the purchased artwork on third-party websites or applications, provided the platform verifies ownership and restricts the display once the owner exits the platform. The artwork should not be publicly visible once the owner ceases to participate in that platform.

However, any use of the Love Monster artwork for monetization (such as merchandise sales, TV rights, or sponsorships) is limited to a maximum of $100,000 USD in gross annual revenue. If you wish to use the artwork in a way that would generate revenue above this threshold, you must obtain prior written authorization from Maverick Metalabs Ltd.


Commercial Use

You may use the purchased Love Monster NFT artwork to create derivative works, such as merchandise, videos, or other commercial products. However, any revenue generated from such commercial use is subject to the following limitations:

  1. Revenue Cap: The use of the Love Monster NFT artwork for commercial purposes is capped at $100,000 USD in gross annual revenue. If you wish to exceed this threshold, you must obtain written permission from Maverick Metalabs Ltd.

  2. Royalty-Free Use by Maverick Metalabs Ltd: While you are granted the rights to commercially use the artwork, Maverick Metalabs Ltd retains the right to use the artwork and characters for any purpose, including the creation and distribution of derivative works, without owing any royalties or compensation to the NFT holders. This includes but is not limited to TV shows, films, video games, or merchandise.


Utility Tokens and Cryptocurrency Disclaimer

LMT Tokens and other tokens within the Love Monster ecosystem are purely digital assets and should not be construed as securities, financial instruments, or ownership shares. These tokens are not investments and do not represent any ownership interest in Love Monster or Maverick Metalabs Ltd. They are digital tools that may provide utility within the Love Monster ecosystem (such as staking, gameplay, rewards, etc.).

You acknowledge and agree that the value of cryptocurrencies, NFTs, and tokens can be highly volatile and may fluctuate significantly. There is a high risk of financial loss when participating in any transaction involving Love Monster NFTs or tokens. You agree that Maverick Metalabs Ltd is not liable for any financial losses, damages, or legal consequences that may arise from your participation in the ecosystem, including losses caused by market volatility, third-party platforms, or any other factor.

By purchasing or trading Love Monster NFTs or tokens, you assume full responsibility for all associated risks and agree that Maverick Metalabs Ltd shall not be held liable for any financial loss or other damages you may incur.


Third-Party Transactions

All transactions involving the buying, selling, or trading of Love Monster NFTs and tokens occur directly between users on third-party platforms. Maverick Metalabs Ltd does not facilitate or control these transactions. We are not responsible for the outcome of any transaction that takes place on external platforms, and we do not guarantee the legitimacy or safety of any third-party service.

You agree to engage in all transactions at your own risk and acknowledge that Maverick Metalabs Ltd is not liable for any disputes, losses, or issues that arise from third-party transactions, whether related to Love Monster NFTs, tokens, or any other assets.


Startup Project Disclaimer

Love Monster is explicitly described as a startup project, and its development is subject to change, delays, and uncertainties. The creation of the Love Monster game, the integration of NFT utility, and the overall platform development may take several years to fully develop. The timeline for the release of the game or the implementation of features is not guaranteed, and Maverick Metalabs Ltd makes no assurances or promises regarding the speed, success, or profitability of the project.

You acknowledge that Love Monster is in its early stages and that no guaranteed timeline or specific milestones have been set. Participation in the project is based on your understanding that delays, changes, and challenges may occur.


Liability Disclaimer

You agree that Maverick Metalabs Ltd makes no warranties, express or implied, regarding the future success, profitability, or value of Love Monster NFTs, tokens, or any associated assets.

  1. Risk Acknowledgment: NFTs, cryptocurrencies, and other digital assets are inherently risky and speculative. You acknowledge that you are fully aware of these risks and assume full responsibility for any losses, damages, or legal issues that may result from your participation in the platform or ecosystem.

  2. No Financial Guarantees: Maverick Metalabs Ltd does not guarantee any returns or benefits from the purchase or use of Love Monster NFTs, tokens, or other digital assets.

  3. Limitation of Liability: To the maximum extent permitted by law, Maverick Metalabs Ltd will not be held liable for any damages arising out of or related to your participation in the platform, including but not limited to loss of profits, loss of business, loss of data, or other direct or indirect damages.


Token Categories and Distinctions

There are two distinct categories of tokens within the Love Monster ecosystem:

  1. In-Game LMT Tokens (Off-Chain): These tokens are used exclusively for internal functions within the Love Monster game and Monster Hub. They are non-transferable and cannot be traded or sold externally unless sold via Token Packs.

  2. On-Chain LOVE Tokens: These tokens are blockchain-based and can be traded, sold, or transferred between parties.


User Conduct and Community Responsibility

You agree to adhere to acceptable behavior standards while participating in the Love Monster community. Harassment, hate speech, fraud, or any toxic behavior will not be tolerated. Maverick Metalabs Ltd reserves the right to suspend or terminate your account, revoke your in-game tokens, or take legal action against users found violating these Terms.


You agree to indemnify, defend, and hold harmless P360 Media Ltd, Maverick Metalabs Ltd, and their respective affiliates, directors, officers, employees, agents, and representatives (collectively, "the Indemnified Parties") from and against any and all claims, losses, damages, expenses, legal fees, and any other costs (including but not limited to court costs and attorney fees) arising from or in connection with:

  1. Your violation of these Terms and Conditions or any other legal obligation, whether arising under contract, tort, intellectual property, or otherwise.

  2. Any misuse of the Love Monster platform, NFTs, tokens, game assets, or services.

  3. Any disputes, claims, or legal actions arising from your transactions with third parties, including the purchase, sale, or trade of Love Monster NFTs, tokens, or related assets. This includes transactions on third-party platforms and marketplaces that are not controlled by Maverick Metalabs Ltd.

  4. Any and all consequences of your participation in the Love Monster ecosystem, whether or not related to the trading or use of Love Monster NFTs, tokens, or other assets.

  5. Any claims, damages, or legal proceedings resulting from your actions, decisions, or investments made while engaging with the platform, NFTs, or any related products, including but not limited to financial losses or market volatility associated with the purchase or trading of NFTs, cryptocurrency, or tokens.

By using the platform, purchasing, or trading any Love Monster NFTs or related assets, you acknowledge that you assume full responsibility for any risks associated with the project and agree that the Indemnified Parties will not be held liable for any claims, damages, or losses arising from such actions.


Dispute Resolution

Any disputes arising from or related to these Terms will be resolved through binding arbitration under the laws of England and Wales. You agree to resolve any disputes or claims in an individual capacity and not as part of a class action or representative lawsuit. By agreeing to these Terms, you waive your right to a jury trial or to participate in class action litigation.


Force Majeure

Maverick Metalabs Ltd will not be liable for any failure to perform or delays in performance of any of its obligations under these Terms if such failure or delay is caused by events beyond its reasonable control, including but not limited to natural disasters, labor strikes, governmental actions, war, pandemics, or other unforeseen circumstances.


Account Termination

Maverick Metalabs Ltd reserves the right to suspend or terminate your account at any time for violation of these Terms or for any other actions deemed harmful to the platform or other users. Upon account termination, any assets linked to the account (NFTs, tokens, etc.) will be forfeited, and the account holder will no longer have access to these assets.


Ownership of Data

You acknowledge that all content and data related to Love Monster, including NFTs, art, characters, tokens, and platform functionalities, are the exclusive property of Maverick Metalabs Ltd. By using the platform, you do not gain ownership rights to any content beyond the rights explicitly granted under these Terms.


Privacy and Data Collection

Your use of the platform is subject to the Privacy Policy, which outlines how Maverick Metalabs Ltd collects, processes, and stores personal data. By using the platform, you consent to the collection and use of your personal data as described in the Privacy Policy.


Taxes

You are solely responsible for any taxes, fees, or charges associated with your purchase, sale, or transfer of Love Monster NFTs, tokens, or other related assets. Maverick Metalabs Ltd does not assume responsibility for any tax obligations incurred by you or any third party in connection with transactions on the platform.


Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of England and Wales. Any disputes will be subject to the exclusive jurisdiction of the courts located in England.


Entire Agreement

These Terms, together with any other legal notices, disclaimers, or agreements posted by Maverick Metalabs Ltd, constitute the entire agreement between you and Maverick Metalabs Ltd regarding your use of the Love Monster platform.


Risk of Loss and Security Responsibility

You acknowledge that owning and trading NFTs, cryptocurrencies, and tokens involves significant risks. These digital assets are inherently volatile, and their value can fluctuate rapidly. There is also a risk of total loss of assets, particularly if you lose access to your wallet, if there is a failure of blockchain infrastructure, or if there is a security breach.

You are solely responsible for securing your private wallet keys and recovery phrases. If you lose access to your wallet or your digital assets due to compromised security, Maverick Metalabs Ltd will not be liable for any loss, damage, or recovery of your assets. We strongly recommend that you implement robust security practices, such as enabling two-factor authentication and using hardware wallets, to protect your private keys.

By using our platform and purchasing NFTs, you assume full responsibility for the security of your digital assets.


Transfer and Resale of NFTs

Love Monster NFTs are transferable, and you may resell your NFTs on secondary marketplaces at your discretion. However, by transferring or reselling an NFT, you acknowledge and agree that the rights granted to you under these Terms, including the license to use the artwork for personal or commercial purposes, transfer to the new owner, subject to the terms of this agreement.

Maverick Metalabs Ltd is not responsible for any resale transactions or disputes that may arise from transactions between users. Any issues related to the transfer or resale of NFTs, including fraud, misrepresentation, or unauthorized transfers, are solely the responsibility of the involved parties.

The buyer of a Love Monster NFT on a secondary market is subject to these Terms, and any violation by the buyer of these Terms can result in suspension or termination of their account.


NFT Artworks and Token Minting

If users are permitted to mint additional NFTs or create derivative works of Love Monster art, they are granted only the rights explicitly outlined in these Terms. Users are prohibited from using Love Monster NFT art to create derivatives for commercial purposes without express written authorization from Maverick Metalabs Ltd.

Minting, distributing, or profiting from derivative works based on the Love Monster NFT collection without prior written consent will be considered a violation of these Terms and may result in legal action, including but not limited to revocation of rights to use the Love Monster NFTs and the loss of any digital assets associated with the user’s account.


No Guarantee of Platform Continuity

Maverick Metalabs Ltd makes no guarantees regarding the continued availability or longevity of the Love Monster platform or its ecosystem. As a startup project, the platform and the Love Monster ecosystem may evolve, pivot, or even be discontinued. You acknowledge that the development of the mobile game and the integration of NFTs and tokens could take years and may be subject to delays, market conditions, and other unforeseen factors.

In the event that the platform or any part of the ecosystem is discontinued, Maverick Metalabs Ltd is not liable for any loss, financial or otherwise, that you may incur. You agree to participate in the project with the understanding that it is experimental and subject to change.


Digital Asset Marketplaces

Maverick Metalabs Ltd does not operate or control third-party marketplaces where Love Monster NFTs or tokens are bought, sold, or traded. Any transactions conducted on third-party platforms are between individuals, and Maverick Metalabs Ltd is not responsible for any issues that arise on such platforms, including but not limited to transaction disputes, fees, fraud, or technical failures.

If you engage in any third-party marketplace transactions, you do so at your own risk. Maverick Metalabs Ltd is not liable for any financial losses, disputes, or damages that arise from third-party marketplace transactions.


You are solely responsible for determining and fulfilling any tax obligations associated with the purchase, sale, or trade of NFTs and tokens within the Love Monster ecosystem. Taxes on the acquisition, sale, or transfer of digital assets may vary depending on your jurisdiction, and you should seek advice from a tax professional to ensure compliance with all applicable tax laws.

Maverick Metalabs Ltd makes no representations or warranties regarding the tax treatment of NFTs, tokens, or digital assets. You agree to indemnify Maverick Metalabs Ltd against any claims or penalties arising from your failure to comply with tax regulations.

Additionally, you acknowledge that your use of the Love Monster platform is subject to all applicable laws and regulations, and that you will comply with any local, national, or international laws governing digital assets, blockchain transactions, and NFTs.


No Financial or Investment Advice

The content provided by Maverick Metalabs Ltd, including but not limited to information on the website, social media, and other communications, is not financial, investment, or legal advice. It is your responsibility to conduct your own research and seek the advice of qualified professionals before engaging in any financial activity involving NFTs, tokens, or cryptocurrencies.

Maverick Metalabs Ltd does not endorse any specific investment strategies or opportunities and does not guarantee the success or profitability of any transactions made on the platform.


Limited Liability for Smart Contract or Blockchain Issues

While Maverick Metalabs Ltd takes reasonable measures to ensure the proper functioning of the Love Monster platform and its associated smart contracts, we do not guarantee the absence of technical issues, such as bugs, failures, or vulnerabilities. Blockchain technology is complex, and issues may arise that could affect your ability to access, buy, sell, or transfer NFTs.

Maverick Metalabs Ltd will not be held liable for any losses, damages, or technical difficulties caused by blockchain failures, smart contract bugs, or other issues related to the blockchain infrastructure. You acknowledge that you participate in the ecosystem at your own risk and assume full responsibility for any issues that arise from blockchain or smart contract errors.


Jurisdiction and Enforcement

These Terms and Conditions shall be governed by and construed in accordance with the laws of England and Wales. Any disputes arising out of or relating to these Terms, or your use of the Love Monster platform, shall be subject to binding arbitration in England and Wales, and you agree to waive any rights to participate in a class action or jury trial.

If any provision of these Terms is deemed unenforceable, the remaining provisions shall remain in full effect. You agree to comply with any legal requirements that may apply to you based on your jurisdiction.


External Services and Third-Party Integrations

The Love Monster platform may integrate with third-party services (such as wallet providers, blockchain infrastructure services, or other APIs) to enable certain functionalities. However, Maverick Metalabs Ltd does not control, guarantee, or assume responsibility for the operations of these external services.

By using the platform, you acknowledge that Maverick Metalabs Ltd is not liable for any issues related to third-party services, including failures, interruptions, or security breaches, and you agree to comply with the terms and conditions of these third-party providers.


Termination of Accounts and Suspension

Maverick Metalabs Ltd reserves the right to suspend or terminate your account if you violate these Terms or engage in fraudulent, illegal, or harmful activities. Such actions may include, but are not limited to, manipulating token values, exploiting vulnerabilities, engaging in scams, or violating intellectual property rights.

If your account is suspended or terminated, you may lose access to your NFTs, tokens, or other assets on the platform. You agree that Maverick Metalabs Ltd is not liable for any loss of assets resulting from such suspension or termination. However, you may request a review of the suspension by contacting support.


Global Accessibility and Local Law Compliance

Love Monster is accessible from various countries worldwide. However, some jurisdictions may have specific laws and regulations governing digital assets, cryptocurrencies, and NFTs. It is your responsibility to ensure that your use of the platform complies with the legal requirements of your country or region.

Maverick Metalabs Ltd reserves the right to block access to the platform from certain jurisdictions if necessary to comply with local regulations or laws.


Age Restrictions

By using the Love Monster platform and purchasing NFTs, you confirm that you are at least 18 years old (or the legal age in your jurisdiction) and that you have the legal capacity to enter into a binding agreement. If you are under the age of 18, you may not access or use the platform.


User Feedback

If you provide feedback, suggestions, or ideas to Maverick Metalabs Ltd regarding the Love Monster platform, you grant us an irrevocable, perpetual, and royalty-free license to use, modify, and implement those ideas without any obligation to compensate you. We are not obligated to act upon or implement any feedback provided.


Marketplace Fees and Charges

Maverick Metalabs Ltd may charge transaction fees for certain activities on the platform, such as minting NFTs, purchasing tokens, or trading NFTs. These fees will be disclosed prior to the transaction. All fees are non-refundable, and you are responsible for any applicable charges or transaction costs that may be incurred during your use of the platform.


Disclaimers About Technical Issues

Maverick Metalabs Ltd does not guarantee the continuous operation of the platform, including access to the NFTs, tokens, or the game. The platform may be subject to downtime, maintenance, or technical issues that could temporarily affect your ability to access or transact with your digital assets.

We are not liable for any financial loss or inconvenience caused by technical failures, maintenance periods, or other interruptions in service.

Amendments to Terms

Maverick Metalabs Ltd reserves the right to modify, update, or change these Terms and Conditions at any time without prior notice. All modifications will take effect immediately upon posting on the website or platform. It is your responsibility to review these Terms periodically for updates. Continued use of the platform constitutes acceptance of any changes made to the Terms.

Acknowledgment and Agreement

By purchasing, trading, or engaging with the Love Monster NFTs or tokens, you acknowledge that you have read, understood, and agreed to these Terms and Conditions in their entirety.

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