Terms of Service

1. Introduction

Welcome to Liq, owned and operated by Plugd, Inc. d/b/a Liq (“Liq,” “we,” “us”, or “our”). These Terms of Service (“Terms”) define the rules and regulations for using Liq's website, applications, APIs, and all related services, which include viewing, creating, buying, and selling NFTs, and engaging in direct peer-to-peer transactions on public blockchains (together, the “Service”).

By using our Service, you, the user (“you” or “your”), whether individually or on behalf of an entity, confirm that you have the authority to bind any such entity to these Terms and that you agree to be bound by these Terms in full. If you disagree with any part of the Terms, you must not use our Service.

Liq functions as a facilitator for peer-to-peer web3 interactions and is not a wallet provider, broker, or financial intermediary. We enable users to directly interact with one another and with NFTs but do not manage or control the NFTs, blockchains, or transactions therein.

Liq is not a party to any user agreements. It is your responsibility to verify the authenticity and legality of the NFTs you engage with via our Service. We do not endorse or validate any user or NFT.

We may introduce additional terms for specific services that become part of your agreement with us. In case of any conflict, the service-specific terms will take precedence.

We may modify these Terms over time and will provide notice of significant changes. Continued use of the Service after such changes will constitute your agreement to the revised Terms.

Please review our Privacy Policy to understand how we handle your personal information.

2. Services

Liq enables users to participate in auctions, utilizing NFTs as collateral. Our platform supports various transactions and incentivizes price discovery through a rewards system for bidders and a fund-access mechanism for sellers.

3. Limitations of Use

By using this website, you warrant on behalf of yourself, your users, and other parties you represent that you will not:

  • modify, copy, prepare derivative works of, decompile, or reverse engineer any materials and software contained on this website;

  • remove any copyright or other proprietary notations from any materials and software on this website;

  • transfer the materials to another person or "mirror" the materials on any other server;

  • knowingly or negligently use this website or any of its associated services in a way that abuses or disrupts our networks or any other service Plugd INC provides;

  • use this website or its associated services to transmit or publish any harassing, indecent, obscene, fraudulent, or unlawful material;

  • use this website or its associated services in violation of any applicable laws or regulations;

  • use this website in conjunction with sending unauthorized advertising or spam;

  • harvest, collect, or gather user data without the user’s consent; or

  • use this website or its associated services in such a way that may infringe the privacy, intellectual property rights, or other rights of third parties.

4. Intellectual Property

The intellectual property rights in all materials and content displayed on Plugd INC’s website, including text, graphics, logos, and software, are either owned by or licensed to Plugd INC and are protected by applicable copyright and trademark laws. We grant our users a limited license to download one copy of the materials on our website for personal, non-commercial transitory use only. This is a grant of a license, not a transfer of title, and it is subject to certain conditions: the materials may not be used for commercial purposes or public display, modified, copied for any purpose, or transferred to another person. This license shall automatically terminate if you violate any of these restrictions or the Terms and Conditions of Plugd INC, and may be terminated by Plugd INC at any time. Upon termination, you must destroy any downloaded materials in your possession, whether in electronic or printed format.

Regarding the purchase of NFTs through Plugd INC’s platform, it is important to note that this does not transfer the intellectual property rights of the underlying digital asset, unless explicitly stated otherwise. Buyers should understand that owning an NFT typically means owning a token that represents ownership of a digital item, not the copyright of the item itself. As such, users must respect the intellectual property rights of creators and rights holders associated with the NFTs. The reproduction, distribution, display, or creation of derivative works based on these digital assets is subject to the original copyright terms unless explicitly granted through the purchase or by the rights holder. In the case of tokenized real-world assets auctioned on the platform, intellectual property rights remain with the original owner or creator unless explicitly transferred as part of the auction terms.

5. User-Generated Content

When you submit content to our website for publication, your intellectual property rights are respected and retained. While Plugd INC does not claim ownership of your content, we do require a license from you to utilize it as part of our service. By using our website and its associated services to post, upload, share, or transmit content that is covered by intellectual property rights, you are granting us a non-exclusive, royalty-free, transferable, sub-licensable, worldwide license. This license allows us to use, distribute, modify, run, copy, publicly display, translate, or create derivative works of your content. The use of your content by Plugd INC will always be in alignment with your privacy preferences and in accordance with our Privacy Policy.

This license is designed to facilitate the smooth operation of the NFT auction platform and to enable the full realization of the Bid-to-Earn system. It plays a crucial role in allowing us to showcase and promote the NFTs and digital assets available on our platform. It is important to note that you can terminate this license at any time by removing your content from our platform. However, if your content has been used in connection with commercial or sponsored content by Plugd INC or our partners, the license will persist until we discontinue such commercial or sponsored content.

We understand the importance of user-generated content in the NFT space and are committed to handling such content with the utmost respect and in line with industry best practices. Users should be aware that content submitted to the platform might be subject to bids, sales, and displays within the context of the platform’s auction activities. Additionally, in contributing to a dynamic and engaging auction environment, users’ content may contribute significantly to the user experience on the platform and may be featured in various promotional or highlight segments by Plugd INC, always under the terms of the provided license.

6. Participant Rewards and Responsibilities

Our platform rewards participants for their contribution to liquidity and price discovery. The rewards are influenced by the timing and amount of bids placed. To maintain the platform’s integrity and functionality, a 3% auction fee is levied on sellers. This fee is redistributed as rewards to bidders. Additionally, a 2% buyer’s premium is applied to the winning bid at settlement. It is crucial for participants to understand and comply with these financial obligations when using our services.

7. Digital Wallet Requirement

To use certain features of our service, including purchasing NFTs, you must connect a digital wallet compatible with cryptocurrency and non-fungible tokens. Transactions through our service are conducted via third-party digital wallet extensions, and you agree that the Terms and Conditions and Privacy Policy of those extensions govern such transactions. Plugd INC does not control or have access to your wallet or any associated private keys or assets.

If you encounter any issues with your purchase, please contact our customer support at hello@liq.auction. You are responsible for all taxes associated with your use of our website and transactions. When you purchase an NFT, you agree to be bound by the Terms and Conditions applicable to its use and sale.

8. Purchase and Sales of NFTs

All pricing and payment terms for NFTs are indicated at the point of sale. Payments made through our website are conducted through the underlying blockchain, and Plugd INC does not have control over these transactions. You are responsible for covering the full cost of your purchase, including transaction fees, taxes, and Gas Fees. Gas Fees fluctuate and are assessed for the computing energy required to process transactions on the blockchain.

9. Risk Acknowledgement

Engagement with Plugd INC entails exposure to inherent risks associated with decentralized digital assets. The value of blockchain assets within Plugd INC ecosystem may experience significant fluctuations due to the volatile nature of digital assets. Additionally, risks associated with internet-based currencies include potential hardware, software, and internet connection disruptions, malicious software intrusions, and unauthorized third-party access to information within users’ wallets.

The evolving regulatory landscape surrounding blockchain technologies and digital assets may introduce new regulations or policy alterations that could adversely affect Plugd INC’s operations and the value and utility of its assets. The functionality of Plugd INC is dependent on the underlying blockchain network, and any network disruptions, delays, or unexpected forks could adversely affect the functionality and value of assets within Plugd INC ecosystem. Users are responsible for understanding these risks and are encouraged to seek professional advice if necessary. Engagement with Plugd INC constitutes an acknowledgment and acceptance of these inherent risks.

10. Disclaimer and Limitations of Liability

Plugd INC provides its website and the materials on the website on an ‘as is’ basis. To the fullest extent permissible by law, Plugd INC disclaims all warranties, expressed or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement of intellectual property rights, or other violation of rights. This disclaimer extends to all aspects of the site, including but not limited to the accuracy, completeness, or reliability of any materials, information, services, or products provided through or in connection with the site.

Plugd INC operates in a complex and evolving field, where the inherent risks associated with digital assets, smart contracts, and blockchain technologies are significant and should be thoroughly understood by the users. We disclaim any liability for any loss or damage incurred as a result of the use of the Plugd INC platform or its services. Users are encouraged to exercise due diligence and to engage with the Plugd INC platform at their own risk.

Under no circumstances will Plugd INC or its suppliers be held liable for any consequential loss suffered or incurred by you or any third party arising from the use or inability to use this website or the materials on this website, even if Plugd INC or an authorized representative has been notified of the possibility of such damage. This includes, but is not limited to, losses incurred in the course of participating in our NFT auctions or using our Bid-to-Earn system.

In the context of this agreement, “consequential loss” encompasses a wide range of potential damages, including but not limited to indirect loss, loss of profit, loss of revenue, loss of business, loss of goodwill, loss of opportunity, loss of savings, loss of reputation, loss of use, and loss or corruption of data, whether incurred under statute, contract, equity, tort (including negligence), indemnity, or otherwise.

It is important to note that legal jurisdictions have varying approaches to the limitations of implied warranties and limitations of liability for consequential or incidental damages. Therefore, these limitations may not apply to you if your jurisdiction does not allow such limitations. Users are encouraged to be fully aware of the risks involved in participating in NFT auctions and using digital platforms for asset trading and to use the Plugd INC services with a clear understanding of these terms.

11. Accuracy of Materials

The materials and content provided on Plugd INC’s website serve as a general guide and are not exhaustive in nature. While we strive to present accurate and up-to-date information, Plugd INC does not guarantee the completeness, accuracy, or reliability of these materials. This is particularly pertinent given the rapidly evolving nature of the NFT market and blockchain technology, where changes can occur swiftly and without prior notice. As a result, the materials on our website, especially those related to NFT auctions, digital assets, and related services, should not be the sole basis for making decisions.

Users of Plugd INC’s platform should be aware that while we make every effort to ensure the reliability and accuracy of the information on our website, there are inherent risks and uncertainties in any digital asset transaction. These uncertainties can arise from various factors, including but not limited to market volatility, technological changes, and user-generated content. Therefore, we strongly advise our users to consult additional, more comprehensive sources of information and to exercise due diligence when engaging with our platform. Decision-making based solely on the materials found on our website is at the user’s own risk.

Plugd INC reserves the right to modify, update, or remove content on the website at any time without prior notice. Given the dynamic nature of the NFT market, it is the responsibility of our users to stay informed of any changes. Regular monitoring of our website for updates, changes, or corrections is recommended to ensure users are acting on the most current information available.

12. Additional Tools

Plugd INC’s website provides access to third-party tools and services, including MoonPay, for cryptocurrency transactions. These tools are provided ‘as is’ and without warranties, express or implied. The integration with third-party services is intended to enhance the auction platform’s functionality and user experience. Plugd INC is not liable for any outcomes arising from the use of third-party tools and services. Users are advised to review the third-party providers’ Terms and Conditions and Privacy Policies. The use of these tools is at the user’s own risk.

Plugd INC may introduce new third-party tools and services to improve the platform. Enhancements may include tools for asset valuation, bidding processes, and digital wallet management, which are essential for the operation of our Bid-to-Earn auction system. Users are responsible for familiarizing themselves with any new tools and adhering to their respective terms of use.

13. Secondary Marketplace Sales of NFTs

Users may sell, trade, or distribute NFTs acquired through Plugd INC’s auctions on compatible secondary marketplaces. While we strive for broad compatibility, we cannot guarantee compatibility with all secondary marketplaces. Please note that Plugd INC is not involved in agreements or transactions conducted on these secondary marketplaces. Any transaction fees or charges applied on these platforms are subject to their respective Terms and Conditions.

Plugd INC has not reviewed all of the sites linked to its website and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement, approval or control by Plugd INC of the site. Use of any such linked site is at your own risk and we strongly advise you make your own investigations with respect to the suitability of those sites.

15. Inaccuracies and Mistakes

In the dynamic and user-centric environment of Plugd INC’s NFT auction platform, the content on our website, which is largely created and submitted by our users, may occasionally contain typographical errors, inaccuracies, or omissions. These could pertain to the description, availability, or details of services related to NFT auctions and digital assets. Given the user-generated nature of much of this content, Plugd INC does not undertake the obligation to verify or clarify the information presented on our platform. Users are encouraged to exercise due diligence and discretion while engaging with content and listings on the site.

As with any platform dealing in digital assets and NFTs, there exists the potential for fraudulent activities by users. Plugd INC aims to maintain a secure and trustworthy platform but is not liable for any fraudulent actions committed by users. We urge our community to report any suspicious activities immediately to help us maintain the integrity of our platform.

Plugd INC reserves the right to cancel, update, or correct any services or information provided on our website at any time, especially in cases where inaccuracies are identified. This includes, but is not limited to, adjustments in auction details, NFT descriptions, and pricing information. Such amendments may be made without prior notice, and while we endeavor to provide accurate and up-to-date information, we are not obligated to update any information on our website, except as required by law.

It is important for users to recognize the inherent uncertainties in an evolving marketplace like ours and to engage with our platform with a clear understanding of these terms. Plugd INC is dedicated to fostering a transparent and user-friendly environment, and we appreciate the active involvement of our community in keeping the platform accurate and reliable.

16. Indemnification

You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys’ fees and expenses, made by any third party due to or arising out of: (1) your Contributions; (2) use of the website; (3) breach of these Terms and Conditions; (4) any breach of your representations and warranties set forth in these Terms and Conditions; (5) your violation of the rights of a third party, including but not limited to intellectual property rights; or (6) any overt harmful act toward any other user of the website with whom you connected via the website.

Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.

17. Right to Terminate

We may suspend or terminate your right to use our website and terminate these Terms and Conditions immediately upon written notice to you for any breach of these Terms and Conditions.

18. Severance

Any term of these Terms and Conditions which is wholly or partially void or unenforceable is severed to the extent that it is void or unenforceable. The validity of the remainder of these Terms and Conditions is not affected.

19. Entire Agreement

These Terms and Conditions and any policies or operating rules posted by us on the website or with respect to the website constitute the entire agreement and understanding between you and us. Our failure to exercise or enforce any right or provision of these Terms and Conditions shall not operate as a waiver of such right or provision. These Terms and Conditions operate to the fullest extent permissible by law. We may assign any or all of our rights and obligations to others at any time. We shall not be responsible or liable for any loss, damage, delay, or failure to act caused by any cause beyond our reasonable control.

If any provision or part of a provision of these Terms and Conditions is determined to be unlawful, void, or unenforceable, that provision or part of the provision is deemed severable from these Terms and Conditions and does not affect the validity and enforceability of any remaining provisions. There is no joint venture, partnership, employment, or agency relationship created between you and us as a result of these Terms and Conditions or use of the website. You agree that these Terms and Conditions will not be construed against us by virtue of having drafted them. You hereby waive any and all defenses you may have based on the electronic form of these Terms and Conditions and the lack of signing by the parties hereto to execute these Terms and Conditions.

20. Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of California. You irrevocably submit to the exclusive jurisdiction of the courts in that State or location.

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