Terms and Conditions

THIS WHITEPAPER IS IN v0.1. OUR LAWYERS ARE STILL ENSURING THAT THE CONTENTS IN THIS DOCUMENT ARE COMPLIANT, WHICH MEANS THAT ANYTHING AND EVERYTHING IN THIS DOCUMENT IS SUBJECT TO SIGNIFICANT CHANGES UNTIL v1.0.

Introduction

ASTRALS is a collection of 10,000 metaverse-ready 3D avatars by a world-renowned artist, Damien Guimoneau. These beautiful pieces of art are randomly generated by over 150 handcrafted traits and 16 unique races each with their own immersive lore by grand loremasters, Lee Gingold and Shaman8. There are two pillars to ASTRALS: A) a decentralized autonomous organization (DAO) for incubating innovative projects and B) a story-driven, play-to-earn role-playing game. We are partnered with Solana Labs for the development of our minting website and with MEKKA LAB to build our next-gen staking platform for the distribution of our governance token, $GLXY, as well as the DAO framework for project incubation.

What the Team Owns

The team at ASTRALS, LLC (Nevada, USA) will be the legal entity that represents the ASTRALS’ Galaxy DAO in the real world, and it owns the name and Intellectual Property involved in the ASTRALS NFT Project (“ASTRALS”). All rights that are not specifically granted to the users and owners of ASTRALS below are reserved by ASTRALS, LLC. This includes but is not limited to the intellectual property rights surrounding the images, names, logos, 3D layer files, trademarks, the website, the ability to mint 3D or other versions of ASTRALS, the look and feel of the user interface, the smart contract code, or anything else not specifically granted by any following licenses.

What the Community Owns

Anyone who connect their Solana wallet and mints an NFT with our smart contract will have purchased an ASTRALS NFT. With this NFT, they can show it off, use it as their pfp, and even merchandise it up to $100,000 through the sale of physical merchandise or using their full ASTRALS NFT in a piece of art that they create. Should they approach that number or expect to go beyond it, they should contact the team to discuss a licensing deal for anything beyond that amount.

Specifics on Commercial and Derivative Rights

When it comes to commercial rights that holders have, ASTRALS may be used in their image fully. The individual layered files and traits are proprietary and are our own creation. We don’t want to see any other projects utilizing our individually crafted layers, so we are not open to anyone else minting new NFTs that are derivatives of our project, change the original ASTRALS, or minting another full project using our ASTRALS in any way. Other than that, holders can create whatever merchandise they would like up to $100,000 USD and should they approach that number or expect to go beyond it please reach out to the team and we’ll discuss a licensing deal for anything beyond that amount.

To limit the use even on merchandise, the user shall not use any ASTRALS Licensed Materials in connection with any material, which is unlawful, fraudulent, libelous, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, offensive or otherwise objectionable or unreasonable or infringing upon any laws or regulations or intellectual property rights or proprietary rights or confidentiality obligations and you shall indemnify and defend ASTRALS, LLC. against any claims, damages, proceedings, loss or costs arising from such use. User shall not use the ASTRALS Licensed Materials in any way that could be construed as being adverse or derogatory to the image of ASTRALS or any of its subjects featured in the NFTs.

No Guarantees or Future Promises

ASTRALS, LLC hopes to put out more content and create things in the future that holders can all be proud of and have outlined many of our intentions as such. However, the landscape around DAOs and various other things we are hoping to do is shifting and legally gray in many ways. When an individual purchases an ASTRALS NFT, they agree that their purchase from the initial launch of NFTs is all they are guaranteed to receive in exchange for your funds. Whether through primary or secondary channels, the art is what they receive. Any future benefits are ancillary to this purchase and not to be taken into consideration with their initial purchase. They agree that they are not relying on any future commitments by ASTRALS, LLC beyond the community treasury of 6500 SOL and 1.5 million USDC, a staking platform for token distribution, and an online platform for the DAO (assuming sell out and a successful private funding round) in participating in our NFT launch.

Not Intended as Investments

ASTRALS are meant to be a fun Non-Fungible Token for individuals to collect. They are not meant as investment vehicles. We make absolutely no promise or guarantee that these NFTs will be worth anything more than what the market deem the art to be worth. This could very well be zero. We give the community our word that we will try to build a community and bring as much intangible value and vibes to the project as we can! Individuals understand that these NFTs have no inherent monetary value, and they should be treated as nothing more than a collectible with potential future value or lack thereof.

Taxes

ASTRALS NFT holders are responsible for any tax liability which may arise from minting or reselling their ASTRALS. Holders are also responsible for any tax liability which may arise from the GLXY that is earned by staking their NFT, including any taxation that may arise from a change in its valuation on the secondary market.

Children

The ASTRALS project is not targeted towards children. Individuals who mint an ASTRALS NFT agree that they are over the age of 18 or above the legal age of their jurisdiction, whichever is greater.