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NFT License Agreement

This NFT License Agreement outlines the terms and conditions under which a Non-Fungible Token (NFT) and its associated digital asset are licensed from the Licensor to the Licensee. It should be used when transferring ownership of an NFT along with specific usage rights.

Updated 15d ago
NFTLicense AgreementDigital AssetIntellectual PropertyBlockchainLicensingSouthern Africa

Company Letterhead (Licensor)

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

NFT License Agreement

This NFT License Agreement ("Agreement") is made and entered into as of {{date_of_agreement}} ("Effective Date"), by and between:

Licensor: {{licensor_name}}, with a principal place of business at {{licensor_address}} (hereinafter referred to as "Licensor"); and

Licensee: {{licensee_name}}, with a principal place of business at {{licensee_address}} (hereinafter referred to as "Licensee").

Collectively, Licensor and Licensee may be referred to as "Parties" and individually as "Party".

Definitions

"NFT" means the unique, non-fungible token representing ownership of the Digital Asset, recorded on the {{blockchain_platform}} blockchain.

"Digital Asset" means the underlying digital content (e.g., image, video, audio file) linked to the NFT.

"Licensed Rights" means the specific rights granted by the Licensor to the Licensee regarding the use of the Digital Asset, as set forth in Section 3.

"Purchase Price" means the amount paid by the Licensee to the Licensor for the acquisition of the NFT and the grant of the Licensed Rights.

Grant of License

Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee a {{exclusive_non_exclusive}} (exclusive/non-exclusive), {{transferable_non_transferable}} (transferable/non-transferable), {{perpetual_limited_term}} (perpetual/limited term) license to {{scope_of_license_usage_rights}} the Digital Asset associated with the NFT.

This license is granted for {{geographic_scope}} and for the following purposes: {{permitted_uses}}.

Restrictions on Use

Licensee shall not, without the prior written consent of Licensor, (a) modify, alter, or create derivative works of the Digital Asset; (b) use the Digital Asset for any illegal, immoral, or defamatory purpose; (c) transfer or sublicense the Licensed Rights to any third party except as expressly permitted herein; (d) exploit the Digital Asset in any way that infringes upon the intellectual property rights of others.

Any unauthorized use of the Digital Asset shall constitute a material breach of this Agreement.

Representations and Warranties

Licensor represents and warrants that: (a) it is the sole owner of the Digital Asset and has all necessary rights to grant the license herein; (b) the Digital Asset does not infringe upon any intellectual property rights of any third party; (c) it has the full power and authority to enter into this Agreement.

Licensee represents and warrants that: (a) it has the full power and authority to enter into this Agreement; (b) it will comply with all terms and conditions of this Agreement and all applicable laws and regulations.

Consideration

In consideration for the grant of the Licensed Rights, Licensee shall pay Licensor the Purchase Price of {{purchase_price}} in {{currency}} (or {{cryptocurrency_amount}} {{cryptocurrency_type}}) on or before {{payment_due_date}}.

All payments shall be made in {{payment_method}}.

Term and Termination

This Agreement shall commence on the Effective Date and shall continue until {{termination_event_or_duration}} unless terminated earlier in accordance with the provisions herein.

Either Party may terminate this Agreement immediately upon written notice if the other Party materially breaches any of its obligations hereunder and fails to cure such breach within {{cure_period_days}} days after receiving written notice thereof.

Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the rules of {{arbitration_institution}}.

Miscellaneous

Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written.

Amendments: No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by both Parties.

Notices: All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by reputable overnight courier, or sent by email to the addresses set forth above.

Signatures

IN WITNESS WHEREOF, the Parties have executed this NFT License Agreement as of the Effective Date.

LICENSOR:

_____________________________

By: {{licensor_signature_name}}

Title: {{licensor_title}}

Date: {{licensor_signature_date}}

LICENSEE:

_____________________________

By: {{licensee_signature_name}}

Title: {{licensee_title}}

Date: {{licensee_signature_date}}

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