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Terms of Service

Welcome to the 24karat NFT Marketplace and 24karat ZAP (the “Services”)!

The Service is a wallet operated by 24karat KK (the “Company”) that allows users to hold brand tokens and digital rewards (NFT), and a marketplace where users can exchange brand tokens for digital rewards. This service is a marketplace where (1) brands registering brand tokens (“Brands”), (2) creators creating and registering digital rewards including digital art using blockchain technology NFTs (“Creators”), and (3) users exchanging their Brand Tokens and digital rewards for digital art (“Creators”). (3) users who own brand tokens or digital rewards and exchange brand tokens for digital rewards (“Users”).

The following terms and conditions (“Terms for User”) set forth the rights and obligations between the User and the Company, and in order to use the Service as a User, the User must agree to all of the Terms for User.

Please refer to the separate Privacy Policy section for information on how we collect, use, store, and disclose your personal information.

1. Definitions

The following terms are defined in the User Agreement as follows

  1. “Brand Token” means a unique token granted to users by brands that have entered into an agreement with us through the use of services (such as visiting a store, shopping, viewing content, converting from other points, etc.). Brand Tokens may be used only for the purposes designated by the Company on the Service, and may not be used outside of the Service.
  2. “NFT” stands for Non-Fungible-Token, which means a non-replaceable token issued on the blockchain.
  3. “Digital Rewards” means NFTs created by the Brand itself or by creators authorized by the Brand who have entered into an agreement with us.
  4. “Wallet” means a wallet opened by a user on the Service that operates on the flow blockchain.
  5. “Intellectual Property Rights” means copyrights, patents, utility model rights, design rights, trademarks, and other intellectual property rights (including the right to acquire such rights or to apply for registration of such rights).

2. Opening an Account

  1. A user may open an account for the Service by agreeing to all of the User Terms of Use, downloading a browser application supported by the Service and otherwise setting up an environment in which the user can use the Service, and providing the Company with the prescribed information (e-mail address, telephone number, etc.). If the user is a minor, the parent or guardian shall be responsible for the use of the Service. If the user is a minor, the user is required to obtain the consent of a legal representative such as a person with parental authority. If a minor uses the Service, he/she shall be deemed to have the consent of a legal representative such as a person with parental authority.
  2. If a User falls under any of the following items (including cases in which the Company deems that the User may fall under any of the following items), the Company may refuse to open an account for such User. In such cases, we shall not be obligated to disclose the reason for such refusal to the user or any third party.(1) When there is any falsehood, error, omission, or other deficiency in all or part of the information provided by the user at the time of account opening.(2) When the user is a minor and we are unable to confirm that the user has obtained consent from a legal representative.(3) The User is an adult ward, a person under curatorship, or a person under assistance, and has not obtained the consent of his/her guardian, curator, or assistant.(4) The User is unable to set up an environment in which the Service can be used.(5) The User is a person whose user registration has been terminated in the past.(6) The User is closely related to a person whose user registration has been terminated in the past.(7) User has violated any laws or regulations or the terms of use with us (including, but not limited to, the User Terms of Use) in the past(8) The User is an antisocial force, etc.(9) The User has any other circumstances that make him/her unsuitable as a user of the Service.

3. Account Management and Prohibited Acts

  1. In the event of any change in the user information provided to us, the user shall promptly follow the procedures for changing the registration details in accordance with our prescribed procedures.
  2. Users shall manage their accounts at their own risk to prevent unauthorized use of the information registered in their accounts by third parties.
  3. In using the Service, a User shall not engage in any of the following acts, or any act that is likely to fall under any of the following items.(1) Actions that violate laws and regulations or are related to criminal acts.(2) Acts that constitute fraud, threats, defamation of honor or trust, or obstruction of business against the Company(3) Acts that infringe on the intellectual property rights or other rights or interests of the Company or a third party(4) Transmission of illegal programs or excessive load to the network or system of this service(5) Reverse engineering or other analysis of the system of this service(6) Interfering with the operation of this service(7) Unauthorized access to the network or system of this service(8) Use of the account for the activities of antisocial forces, etc. or for the provision of benefits to antisocial forces, etc.(9) Making a third party use an account, lending, transferring, changing the name of the account, buying and selling, etc.(10) Transmitting substitute tokens, NFTs, etc. to the Wallet from an external party without using the Service.(11) Actions that are indicated as prohibited by the Company on the Service.(12) Actions that directly or indirectly cause or facilitate the aforementioned actions.(13) Attempting to commit any of the acts listed in the preceding items.(14) Other acts that violate the purpose of this service, social norms, or public order and morals.(15) Other acts that are not appropriate for use of the Service.
  4. The User shall be liable for compensation for any damages incurred by the Company as a result of violation of any of the provisions of the preceding paragraph.
  5. Users shall be liable to us for any and all actions on the Service taken by third parties using user information.

4. Deletion of Account

  1. You may delete your account from the Service at any time in a manner prescribed by us.
  2. Even if a user deletes his/her account in accordance with the preceding paragraph, the rights and obligations that have arisen between the user and the Company under the User Agreement prior to such deletion shall not be extinguished. However, the user shall forfeit all brand tokens and digital rewards on the Service due to the deletion of the account.

5. Temporary Restriction, Suspension, and Termination of Account

  1. In any of the following cases (including cases in which we deem that there is a risk of falling under any of the following items), we may temporarily restrict, suspend, or terminate a user’s account. In such cases, we are not obligated to disclose the reason for temporary restriction, suspension, or termination to the user or a third party.(1) In the event that the user falls under any of the items of Article 2.2.(2) When the user falls under any of the items of Article 3, Paragraph 3.(3) If the user repeatedly fails to respond to inquiries or other communications requesting a response from the Company(4) If the User has not used the Service for two (2) years or more(5) In the event that the User violates any other provision of the User Agreement.
  2. Even if an account is terminated in accordance with the preceding paragraph, the rights and obligations that existed between the user and the Company under the User Agreement prior to the account termination will not be extinguished. However, the user shall forfeit all brand tokens and digital rewards on the Service upon account termination.

6. Attribution of rights

  1. Intellectual property rights related to the contents of the Service (including Brand Tokens and Digital Rewards held by the User) belong to the Company or third parties holding such rights, and not to the User.
  2. The Company and third parties (Creators, etc.) holding such rights shall grant to Users holding Digital Rewards a worldwide, non-exclusive, non-transferable, and free of charge license to use such Digital Rewards (the “License”). The scope of the License is determined for each Digital Reward, and the User may check the scope of the License on the Service. The Usage Licenses shall be valid as long as the User continues to use the Service and holds such Digital Rewards on the Service.

7. Supplementary matters

  1. Based on the user’s operations on the Service, we will add or subtract brand tokens existing on the Wallet and transfer digital rewards, and the user agrees to this.

8. Suspension, Suspension, Cancellation of Registration, Discontinuance, etc. of the Service

  1. In any of the following cases, the Company may suspend or discontinue the Service, in whole or in part, without prior notice to the User.(1) In the event of system inspection or maintenance work(2) When the operation of the Service is interrupted due to computer or communication line failures, mishandling, excessive concentration of access, unauthorized access, hacking, etc.(3) When the operation of this service is interfered with due to force majeure such as earthquake, lightning, fire, windstorm, flood, power outage, natural disaster, etc.(4) In any other cases where the Company deems it necessary to suspend or discontinue the Service.
  2. The Company may discontinue the Service at its discretion. In such cases, the Company shall, to the extent possible, provide prior notice to users in a manner the Company deems appropriate.
  3. The discontinuation of the Service shall not extinguish the rights and obligations that existed between the user and the Company prior to the discontinuation of the Service under the User Agreement.
  4. Upon discontinuation of the Service, users will no longer be able to hold or exchange brand tokens or digital rewards on the Service, and will lose them. However, if the Service is scheduled to be discontinued, we will endeavor to take steps to allow users to transmit their digital rewards externally.

9. Non-warranty and Disclaimer

  1. We make no warranty, express or implied, that the Service will be fit for your specific purpose, have the expected functionality, accuracy, completeness, or effectiveness, be continuously available, or be free from defects.
  2. The Company shall not be liable for any damages incurred by the user due to failure to change user information, inadequate account management, errors in use, or use of a third party’s account.
  3. The Company shall not be liable for any non-performance of all or part of the Service due to natural disasters, earthquakes, fires, strikes, commercial stoppages, wars, civil disturbances, epidemics of infectious diseases, or other force majeure, or changes in laws and regulations or legal interpretations by regulatory authorities.
  4. In the event that a user has a problem with another user or a third party regarding the use of the Service, whether inside or outside of the Service, the Company shall not be liable for the problem, and the user concerned shall resolve the problem at his/her own cost and expense.

10. Liability for damages

  1. In the event that a User causes damage to the Company for reasons attributable to the User, the User shall indemnify the Company for the damage incurred by the Company.
  2. In the event that the Company causes damage to a User for reasons attributable to the Company, the Company shall be liable for compensation for such damage only to the extent specified in each of the following items.(1) In the case of intentional or gross negligence on the part of the Company: the full amount of such damages(2) In the case of our company’s slight negligence: The total amount paid by the subscriber to our company as compensation for the service shall be the maximum amount.
  3. Notwithstanding the preceding paragraph, if the User is a corporation or an individual using the Service as a business or for business, unless there is willful misconduct or gross negligence on the part of the Company, the Company shall not be liable for any damages suffered by the User. In the event that we compensate for damages, the total amount paid by the Subscriber to us for the Service shall be the maximum amount.

11. Modification of user terms of use

  1. In any of the following cases, united may change the User Agreement without obtaining the prior consent of Service Users. In such cases, united will notify users of the revised User Agreement in advance.(1) When changes to the Terms of Service conform to the general interests of Service Users.(2) When modification of the Terms of Use is not contrary to the purpose of the Service Usage Contract, and is reasonable in light of the necessity of the modification, reasonableness of the content after the modification, and other circumstances surrounding the modification.
  2. In addition to the preceding paragraph, SOFTBANK TELECOM may modify the User Agreement by obtaining consent from the User to such modification.
  3. If we notify you of proposed changes to the User Agreement and the date of such changes, and if you use the Service after the date of such changes, you will be deemed to have agreed to such changes.

12. Interpretation of Invalidity or Invalidity

If any provision of these Terms of Use is held invalid or unenforceable, the remaining provisions will continue in full force and effect.

13. Governing Law and Jurisdiction

  1. The validity, interpretation and performance of the Terms of Service shall be governed by and construed in accordance with the laws of Japan.
  2. The Tokyo District Court shall have exclusive jurisdiction as the court of first instance over any and all disputes arising out of or related to the Terms of Service.