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NFT Digital Art Purchase Agreement

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This is A Single-Use Contract Unless Purchased with a Subscription

The NFT Digital Art Purchase Agreement is a legal document that outlines the terms and conditions between a buyer (Buyer) and a seller (Artist) for the purchase of a non-fungible token (NFT) digital artwork. This agreement establishes the rights, obligations, and responsibilities of both parties involved in the transaction.

NFT digital art purchase refers to the act of acquiring a non-fungible token (NFT) that represents a digital artwork. NFTs are unique digital assets that are stored on a blockchain. It’s important to note that owning the NFT of a digital artwork does not necessarily grant copyright or reproduction rights to the underlying artwork itself. The ownership of the NFT primarily signifies ownership of the token and the associated metadata, while copyright and usage rights of the artwork generally remain with the artist unless explicitly transferred. Make sure you protect yourself by using the right type of contract.

If you’re buying a limited-edition digital creation signed by the creator, upon purchase, you’ll be given the right to use, distribute, and display the creation for non-commercial purposes, you also will need The NFT (Non-Fungible Token) Digital Art Purchase Agreement.

This template is a legal document that details the terms and conditions between an Artist and Licensee or Buyer for the rights to create an NFT of the Artist’s work. It covers the essential elements for the license or sale including:

  •  The Length of Term
  • Compensation
  • Ownership Rights
  • Transfer of Rights
  • And More.

 

Creating an NFT contract ensures that the parties making the agreement will have all the proper terms and conditions laid out in advance of the engagement. Anytime there is a transfer of rights, it is important for you to get a contract in place.

Our Industry-Standard contracts are all drafted by media and entertainment attorneys to make sure you have the right agreements to protect your work and your productions.

Other Names for this Document:

Non-Fungible Token Digital Art Purchase Agreement, NFT Art License Agreement – Digitalized Non-fungible Token, NFT Digital Art Collection Contract, Digital Art NFT Contract, NFT Purchase contract, NFT Purchase Agreement, NFT Contract.

Single-Use Contract Unless Purchased with a Subscription

Estimated completion time: 7 - 10 Minutes

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What is it?

The NFT Digital Art Purchase Agreement covers the essential contract terms between an Artist and Licensee or Buyer:

  • The Length of Term of the Engagement
  • The Scope of the Duties of the Artist
  • The Artworks and NFT Rights of the Buyer and Artist
  • The Compensation for Artist and contingent compensation, if any
  • The Rights and Responsibilities of the Parties
  • Work-For-Hire Language
  • Alternative Dispute Resolution Issues, including Venue & Choice of Law

How does it work?

Use this document to explain the relationship between the NFT Artist and the NFT Licensee or Buyer.

Some things needed to build your custom creator contract:

  • Names of the Parties
  • Addresses of the Parties
  • Emails of the Parties
  • Term of Service
  • Compensation for the NFT Artist

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Frequently Asked Questions

Creators Legal is the first and only legal platform for content creators. We provide creators with simple, straightforward, and trustworthy contracts in a fully easy-to-use platform. With a powerful form builder, a secure e-signature system, and your own personalized dashboard to store and organize all your contracts, you can get yourself protected in minutes without the need for expensive lawyers! With our e-Signature system, you can get them signed in minutes. The Project Briefcase is to help track all your contracts and keep them organized. We are here to help creators of all kinds to build their businesses.

 

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Yes, you can trust these agreements.  Many of these agreements have been used in the past by attorneys in the entertainment business.  We have then had them researched and drafted for use for general circumstances in a specific area of the arts and entertainment business. 

No, we do not provide legal advice.  We are not a lawyer nor a law firm and cannot give legal advice. If you feel your matter requires more attention, you may want to consider seeking the advice of an attorney.

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