Open Mint Space — Terms & Conditions

By creating an account, submitting artwork, completing verification, minting artwork, registering artwork for auction, listing artwork, or participating in a sale, you acknowledge that you have read, understood, and agreed to these Terms.

1. Artist Registration and Identity Verification

Artists who wish to sell or participate in an auction may be required to complete the Platform’s registration and identity verification process.

Identity verification is intended to confirm the identity of the artist and establish that the person submitting the artwork is the original creator, lawful owner, or authorized rights holder.

Artists must provide accurate, complete, and current information and may be required to provide reasonable documentation to complete verification.

Verification and minting are separate processes. Completing identity verification does not automatically mean that an artwork has been minted, listed, sold, or accepted into an auction.

2. Artwork Ownership and Rights

By submitting artwork to Open Mint Space, you represent and warrant that you are the original creator, lawful owner, or authorized representative of the applicable rights holder.

You retain your applicable intellectual-property rights unless a separate written agreement expressly provides otherwise.

By participating on the Platform, you authorize Open Mint Space to display, promote, market, and facilitate the sale or auction of your artwork through the Platform and its approved promotional channels.

3. Artwork Registration for Auction

Artists wishing to sell artwork through an auction must complete the required auction registration process for the applicable artwork.

Auction registration may require the artist to provide artwork information, ownership details, identity verification, descriptions, images, pricing information, and other information reasonably required by the Platform or auction organizer.

Registration of artwork for an auction does not guarantee that the artwork will receive bids or be sold.

4. Minting

Minting is a separate technical process from identity verification and auction registration.

Where applicable, an approved artwork may be minted as an NFT on a supported blockchain network. Minting may require blockchain network fees (“gas fees”) or other applicable technical charges.

Minting an artwork does not guarantee that it will be accepted into an auction, receive bids, sell, achieve a particular price, or generate future royalties.

Users should carefully review the applicable minting information and transaction details before authorizing a blockchain transaction.

5. Auction Participation and Applicable Fees

To sell artwork through an auction, the artist must complete the required identity verification and register the artwork for the applicable auction.

Auction and transaction-related fees may apply. Depending on the specific auction, these may include auction fees, marketplace fees, processing charges, blockchain network fees, gas fees, or other applicable transaction costs.

Such fees may be separate from Open Mint Space’s standard platform commission. Applicable fees and charges will be communicated according to the relevant auction and transaction terms before the artist proceeds, where reasonably practicable.

The artist is responsible for reviewing and accepting the applicable auction terms, fees, commissions, and royalty arrangements before confirming participation or approving a transaction.

Completion of verification and auction registration does not guarantee that an artwork will receive bids or result in a completed sale.

6. Listing and Promotion

Once the applicable requirements have been satisfied, approved artwork may be listed, displayed, and promoted on the Platform.

Open Mint Space may promote artwork through its marketplace, marketing campaigns, exhibitions, social-media channels, advertisements, collector communications, and other approved promotional activities.

Open Mint Space will make reasonable efforts to provide exposure and promotional support but does not guarantee a specific number of views, bids, sales, resale prices, or earnings.

7. Platform Commission

Open Mint Space operates on a 10% commission per completed sale, unless a different rate is expressly agreed to in writing.

The commission covers applicable marketplace services, platform operations, promotional activities, sales facilitation, and customer support.

For example, if an artwork is sold for 10 ETH, a 10% platform commission would equal 1 ETH, subject to the applicable transaction terms.

The 10% platform commission may be separate from applicable auction fees, blockchain network fees, payment-processing charges, taxes, or other third-party costs.

8. Sale Proceeds and Payments

Following a completed sale, proceeds will be handled and distributed according to the applicable sales agreement, auction terms, and Platform procedures.

The artist is responsible for reviewing the applicable sale price, commission, auction fees, royalty arrangements, network fees, and other applicable charges before approving a transaction.

A transaction is considered completed only when the applicable payment and transaction requirements have been successfully fulfilled.

9. Royalties

Where a royalty arrangement applies, the original artist or eligible rights holder may receive the agreed royalty percentage from qualifying future resales.

The applicable royalty percentage and conditions should be established before the relevant sale or resale.

Royalty payments may depend on the resale occurring through a marketplace, blockchain, or transaction system that supports and recognizes the applicable royalty arrangement.

10. Transparency of Fees

Open Mint Space will disclose applicable platform commissions and known fees associated with relevant services or transactions before the user proceeds, where reasonably practicable.

Users are responsible for reviewing all transaction information carefully before approving payments, blockchain transactions, auction participation, or other financial commitments.

11. Blockchain and Wallet Transactions

Where blockchain technology is used, users are responsible for verifying wallet addresses, blockchain networks, transaction amounts, and transaction details before confirming a transaction.

Blockchain transactions may be irreversible after confirmation.

Open Mint Space will never request or require a user’s private key, seed phrase, or wallet recovery phrase.

Users must never disclose these credentials to anyone claiming to represent the Platform.

12. User Responsibilities

Users agree to:

• Provide truthful and accurate registration and verification information.
• Submit only artwork for which they possess the necessary rights or authorization.
• Register artwork accurately for applicable auctions.
• Avoid submitting stolen, counterfeit, fraudulent, or infringing material.
• Comply with applicable laws and regulations.
• Maintain the security of their account and wallet.
• Carefully review transaction details before confirming any transaction.
• Notify Open Mint Space promptly of suspected unauthorized account activity.

13. Taxes and Legal Obligations

Users are responsible for determining and satisfying any applicable tax, reporting, regulatory, or governmental obligations arising from artwork sales, royalties, NFT transactions, or other Platform activity.

Open Mint Space does not provide legal, tax, investment, or financial advice.

14. No Guarantee of Sales or Financial Returns

Participation on Open Mint Space does not guarantee that an artwork will sell, receive bids, increase in value, generate royalties, or produce a particular financial return.

NFTs and cryptocurrency transactions may involve substantial financial, market, technological, and regulatory risks.

15. Suspension or Removal

Open Mint Space may suspend, restrict, or remove an account, artwork, listing, or auction participation where reasonably necessary because of suspected fraud, infringement, security concerns, inaccurate information, violation of these Terms, or applicable legal requirements.

16. Changes to the Platform and Terms

Open Mint Space may modify its services, marketplace procedures, auction requirements, fees, or these Terms from time to time to reflect changes in its services, legal requirements, or business practices.

Where required, material changes will be communicated through appropriate Platform channels.

17. Official Communications and Security

Users should verify important account, payment, auction, and transaction requests through official Open Mint Space communication channels.

Open Mint Space will not request passwords, private keys, seed phrases, or wallet recovery phrases.

Users should independently verify any request to send cryptocurrency or make a payment before proceeding.

18. Acceptance of Terms

By registering with Open Mint Space, completing identity verification, registering artwork for auction, minting artwork, listing artwork, participating in an auction, or completing a sale, you acknowledge that you have reviewed these Terms & Conditions and agree to comply with them.

Open Mint Space aims to provide artists with a professional marketplace environment, promotional support, auction opportunities, and transparent transaction terms while respecting the applicable ownership rights and agreed royalty arrangements of original artists and rights holders.

Important: These Terms are a general business template and should be reviewed by a qualified lawyer in the jurisdiction(s) where Open Mint Space operates before being published or presented as legally binding terms.