BeFaster.fit NFT & Mystery Boxes Terms and Conditions
PLEASE READ THE CONDITIONS CAREFULLY BEFORE PURCHASING ANY NFTs. IF YOU DO NOT AGREE WITH THESE CONDITIONS, DO NOT BUY THE NFTs.
These General Terms and Conditions (hereinafter referred to as “GTC”) apply to the sale of Non-Fungible Tokens (NFTs) by BeFaster.fit Ltd, (hereinafter referred to as the “Seller”) to any individual or entity (hereinafter referred to as the “Buyer”). By purchasing an NFT from the Seller, the Buyer agrees to abide by these GTC.
NFT: A non-fungible token, representing a unique digital item or piece of content, often based on blockchain technology.
Mystery Box: A mystery box contains a hidden or undisclosed NFT or a collection of NFTs. Buyers do not know what specific digital items they will receive when they purchase a mystery box.
- Procedure of the NFT sale
The NFT Sale is divided into a Private Sale and a Public Sale. The Private Sale is subject to certain conditions regarding participation, prices and any bonuses.
- NFT Sale – Mystery Boxes
4.1 The NFT sale within the Private Sale and also thereafter is always handled via Mystery Boxes.
4.2 The Mystery Boxes are NFTs in their own right and can be traded as such.
4.3 The Mystery Boxes come in three different sizes of 1x, 5x or 10x NFTs. They are available in four different colours – silver, red, black/red and black/silver.
4.4 The Mystery Boxes contain the BeFaster.fit NFTs and are randomly assigned to the boxes. No conclusions can be drawn about the contents of the Mystery Boxes on the basis of external criteria.
4.5 As far as the initial sale is concerned, the BeFaster.fit NFTs are always and exclusively available in Mystery Boxes. A direct purchase of the BeFaster.fit NFTs and the corresponding selection is not possible my seller.
5.1 The regular prices are
Small Mystery Box 1x: 80 BUSD
Medium Mystery Box 5x: 350 BUSD
Large Mystery Box 10x: 650 BUSD
5.2 The Private Sale offers reduced conditions available.
Small Mystery Box 1x: 60 BUSD
Medium Mystery Box 5x: 250 BUSD
Large Mystery Box 10x: 400 BUSD
- Private Sale
6.1 The Private Sale is accessible via the Seller’s website https://befaster.fit/nft/ and starts on 25.08.2023. The Private Sale ends on 03.09.2023; 23:59:59. After the end of the Private Sales, the regular prices apply.
6.2 Only listed Community Members can participate in the Private Sale. In order to be whitelisted, buyers must register via the following document with their details and their specific purchase request.
Whitelisting here: https://forms.gle/mi2gUazuSP2uGtsX7
6.3 The Private Sale includes two preferential conditions. These are, firstly, reduced prices for the Mystery Boxes and, secondly, the granting of an extra bonus.
6.4 The extra bonus includes the gift of a Small Mystery Box for buyers of 4 different coloured (silver-red-black/red-black/silver) Medium Mystery Boxes. The Seller gives the Buyer two Small Mystery Boxes for the purchase of 4 different coloured (silver-red-black/red-black/silver) Large Mystery Boxes. The Seller will automatically deliver the gifted Small Mystery Boxes to the Buyer.
6.5 If a non-whitelisted buyer makes a purchase during the Private Sale period, the Mystery Boxes will not be delivered until the buyer completes the whitelisting process.
- Purchase Process
7.1 Within the Private Sale, the buyer whitelists for the sale and determines in the form which Mystery Box is to be purchased. After the end of the Private Sales, the purchase of the Mystery Boxes is random with regard to the colours. Only the size can be determined by the Buyer.
7.2 The prices result from point 5. It should be noted that the seller reserves the right to carry out further promotions and/or discounts. This will be communicated via the social media channels.
7.3 The Buyer acknowledges that NFTs are digital items and do not include any physical component.
7.4 In compliance with Anti-Money Laundering (AML) and fraud prevention regulations, all purchasers of NFTs are required to complete a Know Your Customer (KYC) procedure which is done via the whitelisting process.
8.1 The Buyer makes the transaction in BUSD only. No other payment methods or other cryptocurrencies will be accepted.
8.2 The Buyer shall bear any transaction fees associated with the payment.
8.3. the Buyer shall transfer the relevant purchase amount to this Wallet:
XXXXXX will be published on 25.08.2023 XXXXXX.
This is the only Wallet authorised to receive NFT Transactions. There are no other legitimate wallets. The Seller expressly advises the Buyer to exercise caution when sending and not to choose any Wallet other than this Wallet as the addressee. The Buyer is advised to consider all risks associated with the transaction of cryptocurrencies. The liability for any errors in the transfer of the purchase price shall be borne exclusively by the buyer.
- Delivery of NFT
9.1. Upon successful payment, the NFT will be transferred to the Buyer’s digital wallet associated with the whitelisting forms.
9.2. The Buyer is responsible for ensuring the accuracy of their digital wallet address. The Seller shall not be held liable for any losses resulting from an incorrect wallet address provided by the Buyer.
9.3 Delivery will be made within 24 hours after successful receipt of the money. There is a separate reference to 6.5.
- BeFaster.fit NFT and Staking- Features and Attributes
10.1 The Mystery Boxes contain the BeFaster.fit NFTs. They consist of the letters B – F – H – T and an associated Collector NFT.
10.2 The letters are each independent NFTs and entitle the holder to a higher sales payout from the BeFaster.fit protocol if they are clocked. The higher distribution is made up as follows:
Bronze Set, each letter/NFT 1% each. If all four letters have been collected, the buyer receives a 5% higher distribution plus the Collector NFT Bronze.
Silver Set, each letter/NFT 2% each. If all four letters have been collected, the buyer receives a 10% higher payout plus the Collector NFT Silver.
Gold Set, each letter/NFT 3% each. If all four letters have been collected, the buyer receives a 15% higher payout plus the Collector NFT Gold.
Diamond Set, each letter/NFT 4% each. If all four letters have been collected, the buyer will receive a 20% higher payout plus the Collector NFT Diamond.
10.3 If the Collector NFT is locked in the Wallet, it gives the user a lifetime free VIP membership within the DApp in the respective incorporation. Bronze for VIP Bronze, Silver for VIP Silver, Gold for VIP Gold, Diamond for Gold.
10.4 The NFT letters as well as the Collector NFT are tradable.
10.5 Only letters of one colour can be locked for the increase of the sales distribution.
10.6 Until the launch of the official BeFaster.fit NFT Collection in Q4 2023, the Mystery Box is to be understood as a stand-alone NFT with the right to future NFTs. After the launch of the BeFaster.fit NFT Collection, the Mystery Boxes can directly unpack the BeFaster.fit NFT contained therein.
- Ownership and Usage Rights
11.1. The Buyer acknowledges that the purchase of an NFT grants them ownership of a digital item but does not transfer any copyright or intellectual property rights associated with the underlying content.
11.2. The Buyer is granted the non-exclusive, non-transferable right to display, use, and enjoy the NFT for personal, non-commercial purposes.
- Prohibited Uses
12.1. The Buyer shall not use the NFT for any unlawful, offensive, or inappropriate purposes.
12.2. The Buyer shall not modify, reproduce, distribute, or create derivative works based on the NFT without the Seller’s explicit permission.
12.3 Excluded from trading are buyers from countries of origin that prohibit the purchase, trade, possession and exploitation and use of NFTs. A reference to the general BeFaster.fit GTC applies here.
- Dispute Resolution
13.1. In case of any disputes or disagreements, both parties shall first attempt to resolve the matter through good-faith negotiations.
13.2. If a resolution cannot be reached, the parties agree to submit the dispute to arbitration in accordance with Malta’s arbitration laws.
- Limitation of Liability
The Seller shall not be liable for any indirect, incidental, consequential, or punitive damages arising from the purchase or use of the NFT. The Buyer is advised that he is solely responsible for the lawful tax reporting and handling in the country of his tax obligation.
- Data protection
The user data and KYC information collected in the whitelisting process will be kept in accordance with the European data protection regulations with regard to AML guidelines. The data will only be used for the purpose of verifying the whitelisting requirement and preparing the NFT dispatch. No further use will be made of the data. In particular, the data will not be passed on or sold to third parties.
- Risk Management
The Buyer’s notice is drawn to the following possible risks:
16.1. Legal and Regulatory Risks: Identify potential legal and regulatory risks associated with NFT sales, such as intellectual property rights, securities laws, anti-money laundering (AML) regulations, and consumer protection laws.
16.2. Market and Financial Risks: Assess market volatility and potential price fluctuations of NFTs. Develop strategies to mitigate financial risks to both buyers and sellers.
16.2. Technical Risks: Evaluate technical risks related to the security of the NFT platform, including potential vulnerabilities, hacking threats, and data breaches.
- Amendments and Updates
The Seller reserves the right to update or amend these GTC at any time. Any changes will be effective immediately upon posting on the platform or marketplace.
- Governing Law
These GTC shall be governed by and construed in accordance with the laws of Malta.
By making a purchase, the Buyer acknowledges that they have read, understood, and agreed to these General Terms and Conditions for the Sale of NFTs.
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Floriana FRN 1504, Malta
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