When you own an Ecotar NFT, you get a transferable license to use its art both for personal and for commercial purposes. When the ownership is transferred, the license is lost and granted to the new owner.
Electronic Team, Inc. will not enforce ownership rights after the initial mint, and renounces the responsibility for the enforcement of copyrights for minted NFTs. This responsibility lies with the owner of each individual NFT.
Any instance of personal or commercial use, unless previously permitted, must be authorized by the owner using their crypto wallet and the NFT asset. Ownership is entirely determined by the possession of the wallet that contains the asset.
When the asset is transferred, and the transfer is confirmed by the new holder, any previous permissions are nullified, and further usage permissions can only be given by the new holder.
The owner is permitted any non-commercial or commercial use of the NFT and the respective artwork that doesn’t violate these terms and conditions or any local laws. They can also permit other people and organizations to use the artwork. In this case, they can establish restrictions and revoke permission within the boundaries of local laws.
The NFT’s respective artwork can be used for the design and production of derivative works. In order to be classified as a derivative work, the product must be distinct from the original artwork. Copies that don’t have any significant differences from the original cannot be classified as derivative works.
The previous owner retains the full rights to the derivative works that were produced while they still held the asset. After the transfer, further derivative works cannot be produced, unless permitted by the owner.
The previous owner is not permitted to use existing copies commercially or for any purpose that would require or establish their ownership of the NFT. The copies can only be stored and used for personal purposes.