Welcome to Fan inc. ("we," "us," or "our"). Fan inc. is provided by Fanfaktory, LLC ("Company").
These Terms and Conditions outline the agreement between you (the "User") and Fan inc. regarding your access to and use of our platform and services related to Digital Assets ("Services"). By accessing or using the Services, you agree to be bound by these terms, including any future amendments or updates. We strongly encourage you to carefully read these terms and refer to the definitions provided for clarity on specific terms used throughout this document.
Definitions
In these Terms and Conditions, unless the context otherwise requires, the following expressions have the following meanings:
“Digital Assets” refers to unique digital items or representations of ownership, including but not limited to Non-Fungible Tokens (NFTs), stored within the Fan inc. account system.
“Fan inc. account” refers to the user’s account within the Fan inc. platform, where Digital Assets can be stored, viewed, and managed according to these terms.
"User" refers to any individual or entity who creates or accesses a Fan inc. account and utilizes Fan inc. services related to Digital Assets.
"Keys" refers to cryptographic keys, credentials, or other security mechanisms provided by Fan inc. to enable specific actions such as transferring Digital Assets.
"Platform" refers to Fan inc.’s website, mobile application, or other interfaces that provide access to the Fan inc. account and related services.
"Services" refers to any functions, features, tools, or offerings provided by Fan inc. in relation to Digital Assets, including but not limited to storage, management, visualization, and support.
"Transfer" refers to any movement, assignment, or disposition of Digital Assets from a Fan inc. account to another account or third-party destination.
"Verification" refers to the process by which Fan inc. confirms the identity or authenticity of a User, typically required for specific actions like requesting Keys or engaging in Transfers.
"Content" refers to any data, information, images, descriptions, or other materials that a User might upload, post, or otherwise make available through the Platform.
"Third Parties" refers to any other companies, individuals, or entities aside from Fan inc. and the User, that might be involved or interact with the Services.
1. Acceptance of Terms
1.1 By creating or accessing a Fan inc. account and engaging with the platform for the management, storage, viewing, or any other utilization of Digital Assets, you are explicitly accepting the terms and conditions herein stated. This agreement governs your relationship with Fan inc. concerning the Digital Assets held within your wallet.
1.2 Fan inc. reserves the right to modify, amend, or update these terms and conditions at its sole discretion. Such changes may occur without prior notice and may include alterations that affect existing services or introduce new provisions.
1.3 It is your ongoing responsibility to review the terms and conditions regularly. Your continued use of the Fan inc. account and its services related to Digital Assets constitutes your acceptance of any updates or modifications to these terms.
1.4 If at any point you disagree with these terms, or any future changes made to them, your sole remedy is to cease all use of your Fan inc. account and the associated services for Digital Assets.
1.5 Fan inc. may provide notifications of significant changes to these terms via email or other communication means. However, the absence of such notifications does not waive your responsibility to regularly review these terms and comply with their current version.
2. Earning Digital Assets
2.1 When you earn a Digital Asset, such as through a Completed Transaction with a Student-Athlete, Fan inc. will store it securely in your Fan inc. account.
2.2 This storage process includes safeguarding the unique digital representation that encapsulates the Student-Athlete's name, unique image, and any other associated attributes.
2.3 The ownership and use of the Digital Asset are governed by these terms and any applicable laws or regulatory requirements.
2.4 Additionally, your earned Digital Asset may be subject to limitations, restrictions, or conditions as determined by Fan inc., in line with industry standards and best practices.
3. Ownership, Control, and Transfer of Digital Assets
3.1 As a Fan inc. account holder, you have control over the Digital Assets stored in your account, which includes the ability to view, manage, and interact with these assets within the Fan inc. platform. This control is subject to compliance with these terms and any applicable laws, regulations, or guidelines. Fan inc. may implement security measures, access controls, or other procedures to protect your Digital Assets and ensure responsible management. While Fan inc. facilitates the storage and access to your Digital Assets, the responsibility for maintaining the confidentiality and security of your account information rests with you.
3.2 You may not sell, transfer, gift, or otherwise dispose of any Digital Assets in your Fan inc. account to third parties or other accounts without specific authorization. To engage in such actions, you must first request the necessary "Keys" to your account from Fan inc. This process will likely require verification of your identity, adherence to certain policies and guidelines, and may involve additional security checks or waiting periods. Once Fan inc. provides the keys to your account, you may proceed with the authorized transactions, understanding that such actions might be irreversible and subject to additional terms, fees, or legal obligations. Fan inc. reserves the right to deny or limit such requests at its sole discretion, in accordance with applicable laws, industry practices, or concerns related to fraud prevention, regulatory compliance, or user protection..
4. Verification for Key Access
4.1 To obtain the keys to your Fan inc. account for the purpose of transferring or engaging in other authorized transactions related to your Digital Assets, you must adhere to the following process:
- Submit a Written Request to Fan inc.: You must initiate the process by submitting a formal, written request to Fan inc. This request must include relevant details such as your account information, the nature of the intended transaction, and any specific Digital Assets involved. Fan inc. may provide specific forms or guidelines for this purpose.
- Provide Satisfactory Proof of Your Identity: To ensure the security and authenticity of the request, you must provide satisfactory proof of your identity as determined by Fan inc. This may include, but is not limited to, government-issued identification, utility bills, biometric verification, or other forms of identity confirmation. Fan inc. retains the right to determine what constitutes satisfactory proof and may require additional documents or steps if necessary.
- Comply with Verification Processes: In addition to identity verification, Fan inc. may require you to comply with other verification processes, such as answering security questions, providing proof of ownership of Digital Assets, or adhering to two-factor authentication procedures. These additional measures aim to further safeguard your account and the Digital Assets contained therein.
- Acknowledge and Accept Any Associated Terms or Fees: Fan inc. may impose specific terms, conditions, or fees associated with the issuance of keys for your account. You must acknowledge and accept these additional requirements, which may include legal agreements, user consents, or payment of processing fees.
- Await Approval and Receipt of Keys: Once Fan inc. has received and reviewed your request, and you have successfully complied with all required steps, Fan inc. will determine whether to approve the issuance of the keys. This decision will be made at Fan inc.'s sole discretion and in accordance with its policies, legal obligations, and risk assessments. Upon approval, the keys will be delivered to you through a secure and approved method, along with any instructions or guidelines for their use.
4.2 This process reflects Fan inc.'s commitment to the responsible management of Digital Assets and ensures that key transactions are conducted securely, transparently, and in compliance with relevant laws and regulations. Failure to adhere to any part of this process may result in the denial of your request or other consequences as determined by Fan inc.
5. Effects of Transferring Digital Assets
5.1 Consequences of Transferring Digital Assets:
- Removal from Fan inc. Display and Services: If you choose to transfer Digital Assets out of your Fan inc. account, whether by gift, assignment, or other means, Fan inc. will cease to display or recognize those particular assets within the app, platform, or any associated services. This means that once the transfer is completed, the Digital Assets in question will no longer be accessible, viewable, or manageable through your Fan inc. account, and any related features or functionalities may become unavailable.
- Understanding of Finality and Irreversibility: By initiating a transfer of Digital Assets out of your Fan inc. account, you understand and explicitly agree that such a transfer is final and irreversible within the Fan inc. system. This means that once the transaction is processed and confirmed, you relinquish all control, rights, and claims to those specific Digital Assets within the Fan inc. platform, and Fan inc. will have no obligation or ability to reverse, cancel, or modify the transfer.
- Responsibility for Compliance and Third-Party Risks: You are solely responsible for ensuring that any transfers of Digital Assets comply with these terms, applicable laws, and any specific conditions or requirements imposed by Fan inc. or relevant third parties. This includes, but is not limited to, compliance with tax regulations, intellectual property rights, licensing agreements, and anti-fraud measures. Fan inc. assumes no responsibility for the actions, behavior, or integrity of third parties involved in the transfer, and you accept all risks associated with dealing with such third parties.
- Potential Impact on Other Services or Benefits: Transferring Digital Assets out of your Fan inc. account may also affect other services, benefits, or privileges that may be tied to the ownership or possession of those assets within the Fan inc. ecosystem. This could include loss of access to special features, events, rewards, or other integrations that may have been associated with the transferred Digital Assets.
- Notification and Record-Keeping: Fan inc. may provide notifications, receipts, or records related to the transfer, and you are encouraged to retain copies for your reference and compliance. Fan inc. may also report or disclose such transfers as required by legal obligations, regulatory authorities, or internal policies.
6. Account Closure
6.1 Consequences of Closing Your Fan inc. Account:
- Requesting Keys: If you decide to close your Fan inc. account, you have the option to request the keys associated with your account. These keys may enable you to access or transfer your Digital Assets outside of the Fan inc. platform. If you choose this option, you must comply with all relevant procedures, requirements, and verification processes set forth by Fan inc.
- Declining to Receive Keys: Should you decline to receive the keys to your Fan inc. account at the time of closure, you understand and agree that Fan inc. will no longer have the ability to return, retrieve, or restore the Digital Assets associated with your account. This decision is irreversible, and you acknowledge that you will forfeit all rights, claims, and control over such Digital Assets.
7. Limitation of Liability
7.1 Understanding and Acceptance of Risks and Responsibilities:
- Compliance with Terms: Fan inc. is not responsible or liable for any loss, damage, or adverse consequences resulting from your failure to comply with these terms, including but not limited to the loss, theft, unauthorized access, or destruction of Digital Assets.
- User's Responsibility: You are responsible for understanding and adhering to these terms, maintaining the security and confidentiality of your account and keys, and conducting all activities related to your Fan inc. account in a lawful and prudent manner. Any negligence, misconduct, or violation on your part may result in significant losses or liabilities.
- Third-Party Actions and Events: Fan inc. shall not be held responsible for any actions, conduct, or events caused by third parties, including hackers, fraudsters, other users, or any external forces beyond Fan inc.'s reasonable control. This includes any damages or losses related to phishing attempts, cyber attacks, market fluctuations, regulatory changes, or natural disasters affecting Digital Assets.
- No Warranty or Guarantee: Fan inc. does not warrant or guarantee the value, liquidity, marketability, legality, or any other aspects of the Digital Assets. You acknowledge that Digital Assets and related technologies are subject to inherent risks, uncertainties, and potential rapid changes that may significantly impact your interests.
- Indemnification: You agree to indemnify, defend, and hold harmless Fan inc., its affiliates, officers, directors, employees, and agents from any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising out of or related to your violation of these terms or your use of the Fan inc. account, including but not limited to the transfer, sale, storage, or any other handling of Digital Assets.
