Digital Marketplace Terms and Conditions

Last Updated September 24, 2021

These Madeium Digital Marketplace Terms and Conditions (“Marketplace Terms”) are a binding contract between you and Madeium, Inc. and its affiliates (collectively, “Madeium,” “us,” or “we”). These Marketplace Terms, together with Madeium’s Privacy Notice and website Terms of Use, govern your use of Madeium’s Digital Marketplace as a Maker or a Collector (each defined below). 

Additional, separate terms may apply to your use of the Digital Marketplace or our Membership Services, and such additional terms will be considered a part of these Marketplace Terms.

ThESE Marketplace TERMS include THE class action waiver and arbitration agreement SET FORTH in THE Website Terms of Use. MADEIUM ENCOURAGES YOU TO SEEK ADVICE OF COUNSEL PRIOR TO EXECUTING ANY AGREEMENT RELATED TO A TRANSACTION ON THE DIGITAL MARKETPLACE.

You agree and understand that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for yourself. In some cases, Madeium may provide creative support to Makers or facilitate introductions between Makers, Collectors, or business affiliates related to the Digital Marketplace, but in no case does Madeium offer any person advice or recommendations related to speculation or investment strategies for any Works listed or purchased on the Digital Marketplace. You agree and understand that you access and use the Digital Marketplace at your own risk, and Madeium is not responsible for any communication failures, disruptions, errors, distortions or delays you may experience, however caused.

As a Collector, you can directly purchase NFTs or Works listed on the Digital Marketplace or commission custom Works created by one or more Makers, along with the intellectual property rights specified as conveyable to the Collector as the result of the Transaction (see Section 14). To purchase an NFT, you must agree to all terms and conditions of the Transaction specified in the listing (including the intellectual property rights subject to the Transaction) and agree to pay the Sales Price and all additional Fees and any applicable taxes. 

The original Maker of the Work sold in a Secondary Sale receives 10% of the total NFT sale price as a royalty (“Secondary Sales Royalty”). Makers have the right to collect Secondary Sales Royalties for all sales of their Works in perpetuity and may use those funds in any manner the Maker sees fit. As such, a seller of a Work in a Secondary Sale must include in the listing a statement to the effect of “A 10% Royalty Applies. See Terms and Conditions for details.” Madeium collects a Marketplace Fee of $10 for each Secondary Sale of Works. The Secondary Sales Royalty and the Marketplace Fees (along with all applicable taxes, any Gas Tax, and any other fees) are deducted from the total sale price at the time of the Transaction.