Welcome to BollyCoin platform – the Bollywood NFT marketplace!
This portal www.bollycoin.com
and its corresponding mobile application (collectively, the “Platform
”) is managed by Bolly Technology Pvt Ltd, a business company incorporated under the laws of British Virgin Islands (“Company
” or “our
These are the terms and conditions of use or access of the Platform (“T&Cs
”). They tell you about the rules for using the Platform, using any current or future service, feature, functionality or offer made available on the Platform (“Service
”) and what you (and we) can and can’t do.
These T&Cs basically tell you about all important rules to stick to and is a legally binding contract between you and us. So, do read these T&Cs carefully before accessing the Platform or using our Services. Please do check in regularly for updates as the latest version always applies.
When you use our Services and the Platform, you’re agreeing to these T&Cs and any other terms we’ve let you know about for any specific Service (“Service Terms
We mean the following whenever we use these capitalized terms in the T&Cs:
” means the buyer of the NFT(s) in a Sale Transaction conducted on the Platform;
” shall mean the artistic works, dramatic works, video clips, images, cinematograph films (including any static images, photos, limited duration video clips, music files, animation posters, experiences, etc.), wholly or partly or any other works adapted into an NFT.
” includes the intellectual property rights owned or licensed, including patents, copyrights, trademark, service mark, logo, designs, trade secrets, know-how or such other intellectual property rights (whether or not registered), in any country or jurisdiction in the world.
” means a unique non-fungible token, which stores a unit of data on a digital ledger known as blockchain and which certifies / authenticates a specific digital asset to be unique and therefore not replicable, and for the purposes of this Platform, shall mean the non-fungible token implemented on the Ethereum blockchain network as an adaptation of the Content using smart contracts and offered for auction, sale, or trade on the Platform.
” means the seller of an NFT in a Sale Transaction conducted on the Platform.
You agree that the Platform is an online marketplace that enables you to purchase and sell (or make offers) or auction and bid for, the NFT. Do not think of us as a broker, financial institution, creditor, custodian or a traditional auctioneer. We are just a facilitator. Any guidance we provide as part of our Services, such as pricing or listing is solely informational, and you may decide to follow it or not.
The NFT will be represented on smart contracts on the Ethereum blockchain that takes it outside anyone’s control. As for us, we neither control such smart contracts nor the underlying blockchain technology, and thus we do not have control or custody of any NFT at any time for facilitating transactions on the Platform. Most importantly, we are not and cannot be a party to any agreement between the Buyer and Seller of the NFT.
You should use the Platform only if you agree with these T&Cs, are of the age of majority in your jurisdiction of residence or are using the Platform or Services from a jurisdiction that allows you to do so. If you don’t stick to all these T&Cs or are prohibited from using Services (howsoever coming to our knowledge), then we can suspend or terminate your use of Services, Platform, and your Account.
To use the Services, you may have to download a supported electronic wallet extension (such as MetaMask, Coinbase, etc.) and connect and unlock your digital wallets with that extension. Once you submit an order to purchase an NFT, your order is passed on to the applicable extension, which completes the transaction on your behalf. All transactions on the Platform are in the native cryptocurrency known as BollyCoin. We have no control over these payments or transactions, nor do we have the ability to reverse any payments or transactions. We have no liability to you or to any third party for any claims or damages that may arise as a result of any payments or transactions that you engage in via the Service. We do not provide refunds for any purchases that you might make on or through the Platform.
Registration and Account
When you register on the Platform, you will get an account (“Account
Always try keeping your Account safe. Here’s how. Do not, tell anyone your Account details, give false information to us, bypass our security measures, create more than one Account or log in through unauthorized means. Be sure to keep your details up-to-date and remain vigilant. For example, if you think your Account is at risk because someone could have found out your password, please change your password or get in touch.
As we said earlier, we can suspend or terminate your Account if you don’t stick to all these T&Cs or do or facilitate anything that is unlawful.
Transactions involving NFTs may occur either on a fixed price basis (i.e., where the Seller lists the NFT for sale on the Platform at a fixed sale price) (“Static Sale Transaction
”) or auction price basis (i.e., the Seller of lists the NFT for sale on the Platform through an auction process) (“Auction Sale Transaction
”) and together with Static Sale Transaction, the “Sale Transaction
Whether it’s a Static Sale Transaction or an Auction Sale Transaction, the Seller will determine: (i) the sale price of the NFT or in case of an Auction Sale Transaction, the starting price, at its option, whether in BollyCoin tokens or any other currencies (whether fiat currency or cryptocurrency) as available on the Platform, (ii) the number of days for which the Sale Transaction will remain open (the “Sales Period
You can list an NFT in a Sale Transaction on the Platform only if you agree that: (i) your listing is accurate and complete and is not deceptive or misleading and include all the relevant information on the NFT; (ii) use or display of the NFT (and the underlying Content) do not violate any third party rights (including IPR) or applicable laws; (iv) you are authorized by the IPR owner or licensor to mint, provide or sell the NFT on the Platform. We can by ourselves amend or remove any listing that do not comply with these T&Cs.
When you purchase an NFT, you do not own any IPR in such underlying Content except for the limited license granted to you by the owner or licensor.
Upon collecting an NFT, you receive a limited, worldwide, non-assignable, non-sublicensable, royalty-free license (and any other restrictions that may be set out in the smart contract to your NFT) to only display the NFT privately or publicly: (i) for the purpose of promoting or sharing your purchase, ownership, or interest, (ii) for the purpose of sharing, promoting, discussing, or commenting on the NFT; (iii) within decentralized virtual environments, virtual worlds, virtual galleries, virtual museums, or other navigable and perceivable virtual environments; (iv) on the Platform for its sale or auction, provided that we are able to cryptographically verify your rights to display the NFT to ensure that only the actual owner can display the NFT. The transfer, sale, or give away of your NFT, may be performed by you only by using the Platform. In certain cases, we may help to evaluate or provide you with information about a Seller. However, such information is provided for informational purposes only. You bear full responsibility for verifying the authenticity, legitimacy, identity of any NFT you purchase on the Platform. We make no guarantees or promises about the identity, legitimacy, or authenticity of any NFT on the Platform.
An Auction Sale Transaction, once initiated, will continue for the entire Sales Period during which the auction process cannot be stopped, amended, modified, cancelled or undone, except where such process is in violation of these T&Cs or we detect any crime or legal violations. Where the base price is set by the Seller, the NFT will be sold to the highest successful bidder upon the conclusion of the Sales Period so long the base price is met. If there is no base price, then the NFT will be sold to the highest bidder upon the conclusion of the Sales Period no matter what the bid is. Bids placed during an Auction Sale Transaction are irrevocable.
There are certain type of behaviours that we don't allow from Buyers in an Auction Sale Transaction. Here is an illustrative list:
Bidding is fun but keep in mind that each bid you make is a binding contract to purchase the NFT if you win. Not doing so may entail consequences as may be detailed out in the Service T&Cs. Bottom line is do not place a bid unless you mean it.
We want to maintain a fair marketplace for all and anything that may prevent us from doing so is strictly prohibited. This includes shill bidding (i.e., artificially increasing the price, desirability, or search standing of NFT), bidding on your own listings using other accounts or any other anticompetitive bidding conduct.
Be careful about bidding on same or similar NFT if you only want one of them since all your bids are binding. Bids cannot be retracted.
Understand everything about what is up for sale and if you can meet the requirements of the Service Terms.
You acknowledge and agree to assume the risk of initiating or participating in an Auction Sale Transaction and take full responsibility and liability for the outcome of any Auction Sale Transaction that you participate in. We shall not be liable to you or any third-party for the outcome of any Auction Sale Transaction.
Upon the acceptance of a Buyer’s offer in any Sale Transaction, the total sale price for the NFT (along with all applicable taxes and fees) shall be payable by the Buyer in the relevant fiat currency or cryptocurrency as set forth by the Seller. Any payments or financial transactions that you engage in on the Platform: (i) in respect of fiat currency, will be intermediated by our authorised third-party payment services providers in accordance with their applicable terms of services; or (ii) in respect of cryptocurrency, will be conducted solely through the Ethereum blockchain network. In either case, we have no control over these payments or transactions, nor do we have the ability to reverse any payments or transactions. We have no liability to you or to any third party for any claims or damages that may arise as a result of any payments or transactions that you engage in via the Platform, or any other payment or transactions that you conduct via the Ethereum blockchain network.
Every transaction on the Platform requires the payment of a transaction fee (each, a “Transaction Fee
”) to support the Seller/ NFT creator and the Platform. Except as otherwise expressly stated in these Terms and/or the Service Terms, you will be solely responsible to pay any Transaction Fee for any transaction entered into via the Platform. You may not substitute any other currency, whether cryptocurrency or fiat currency, for the currency in which you have contracted to pay at the time of sign up. For clarity, no fluctuation in the value of any currency, whether cryptocurrency or otherwise, shall impact or excuse your obligations with respect to any payment obligation.
You agree and understand that all fees, commissions, and royalties are transferred, processed, or initiated directly through one or more of the smart contracts on the Ethereum blockchain network. In particular, we support on-chain royalty payment as per the EIP-2981: NFT royalty standards accessible at https://eips.ethereum.org/EIPS/eip-2981
and embedded with the royalty information. By transacting on the Platform and by using the smart contracts, you agree to all automated fees, commissions, and royalties for the sale of NFTs on the Platform as well as the execution and distribution thereof by the smart contracts. You waive any entitlement to or delay in payment or remittance of royalties, commissions, or fees by operation of the smart contracts. Further, since we use on-chain royalty payment as per EIP-2981 standards on our Platform, any other platform may also get the information about how much royalty needs to be paid and to whom, but the actual execution of such royalty payment can only be made by the platform where the NFT has been sold.
You shall not attempt to trademark, copyright or otherwise acquire additional IPR in the NFT or claim the underlying Content in the NFT as original work created / authored by you.
You shall not amend, adapt or modify the NFT, in any manner whatsoever, including but not limited to modifying the NFT so as to suggest that the original owner, or any third party appearing in the NFT endorses / promotes any product / services.
You shall not be entitled to create any derivates of the NFT, in any manner whatsoever and shall also not use the NFT for any other commercial exploitation like for any sponsorship, advertising, trade fairs, barter, etc.
You shall not use / utilise the NFT in any commercial manner outside that Platform, including allowing a standalone file or content file of the NFT to be downloaded, extracted or redistributed by any third party.
You shall not use/incorporate the NFT with any material that violates any of the original owner’s rights or any third-party rights, or otherwise take any action in connection with the NFT that infringes any IPR or any other rights of any person or entity.
You shall not be entitled to use, include or incorporate the NFT in any electronic template or design template application (e.g., meme/ meme generator template, a web design or presentation template, or templates for electronic greeting cards or business cards etc.).
You may sell all of your right, title, and interest in and to the NFT (“Resale
”) only on or through this Platform. Upon such Resale, your rights in and to the NFT shall be transferred to the Buyer of such NFT. It is hereby clarified that any such Resale right of yours can only be exercised upon the Platform and you shall have no Resale right of the NFT outside the Platform. While you have the limited right to sell, trade, transfer, or use the NFT, but you cannot make “commercial use” of the NFT unless it is approved by the minter or Seller as per its respective terms in the smart contract or Service Terms. Notwithstanding anything contained herein, we reserve the right to use the NFT for our internal business purposes as well in our promotional materials for publicizing the Platform.
You shall not use the NFT contrary to any additional restrictions included in the NFT metadata.
You shall not be entitled to burn the NFT, i.e., take the NFT out of circulation by sending it to a cryptocurrency wallet which is not accessible or in any other manner.
You shall not use the NFT to distribute any malicious, harmful, offensive or obscene material or any materials which are in breach of any applicable laws.
You shall not use the NFT in any manner that exceeds the scope of the rights granted herein.
You shall not use the Platform to transmit any malware or virus or distribute any unsolicited marketing / advertisements.
You shall not use the Platform for any unlawful or illegal activities including money laundering, terrorist activities, etc.
You shall not be entitled to modify or adapt the Platform (in whole or part) to any other software, programme, etc.
You shall not attempt to reverse-engineer or otherwise attempt to uncover the underlying codes, software, algorithms, etc. used to create the Platform.
You shall not delete or modify any content on the Platform, such as any information regarding the Services, sales or pricing;
You shall not use any engine, software, tool, agent or other mechanism (such as spiders, robots, avatars, worms, time bombs etc.) to navigate or search the Platform;
You will not make false or malicious statements against the Services, the Platform or the Company;
You will not post, copy, submit, upload, distribute, or otherwise transmit or make available any software or other computer files that contain a virus or other harmful component, or otherwise disrupt or damage the Platform and/or Services or any connected network, or otherwise interfere with any person or entity's use or enjoyment of the Platform and/or the Services;
You will not introduce any trojans, viruses, any other malicious software, any bots or scrape the Platform for any information;
You will not probe, scan, or test the vulnerability of any system, security or authentication measures implemented by us or otherwise tamper or attempt to tamper with our technological design and architecture;
You will not hack into or introduce malicious software of any kind onto Platform;
You will not gain unauthorized access to, or interfere with, or damage, or disrupt the server on which the details connected to the Services are stored, or any other server, computer, or database connected to the Services;
You will not engage in any form of antisocial, disruptive, or destructive acts, including “flaming,” “spamming,” “flooding,” “trolling,”, “phishing” and “griefing” as those terms are commonly understood and used on the internet;
You will not host, display, upload, modify, publish, transmit, update or share on or through Platform, any information that: (i) belongs to another person and to which you do not have any right; (ii) is harmful, harassing, blasphemous, defamatory, obscene, pornographic, pedophilic, invasive of another’s privacy, hateful, relating to or encouraging money laundering or gambling, or otherwise harmful in any manner whatsoever; (iii) harms minors in any way; (iv) infringes any IPR; (v) violates any law for the time being in force; (vi) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (vii) impersonates or defames another person; or (viii) contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource.
Representations and Warranties
You represent and warrant that:
the Platform is not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods and services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided on this Platform.
You are aware of the multitude of risks associated with the Platform including but not limited to: (i) price and liquidity of blockchain assets, including NFT(s) being extremely volatile and may be subject to fluctuations, (ii) fluctuations in the price other digital assets could materially and adversely affect the Sale Transactions on the Platform, (iii) legislative and regulatory changes or actions may adversely affect the use, transfer and value of the NFT(s), the Sale Transactions and the Platform, (iv) NFT is not a legal tender and is not backed by any government or applicable law, (v) transactions involving NFTs may be irreversible and losses due to fraudulent transactions may not be recoverable, (vi) NFT(s) are subject to risk of technological and software difficulties on the Platform, (vii) you are solely responsible for determining what, if any, taxes apply to your transactions on the Platform, (viii) It is possible that the Platform will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed platforms more generally. Such a lack of use or interest could negatively impact the development of the Platform, and (ix) it is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the Platform. The Platform may compete with these alternative platforms, which could negatively impact the Platform.
You have conducted your own due diligence with respect to the value and use of NFT(s).
Certain Services on the Platform may be offered while still in “beta” form (“Beta Services
”). We will utilize best efforts to identify the Beta Platforms by labelling on its Platform. By accepting these T&Cs or using the Beta Services, you understand and acknowledge that the Beta Platforms are being provided as a “beta” version and made available on an “as is” or “as available” basis and may contain bugs, errors, and other problems. You assume all risks and all costs associated with your use of the Beta Services, including, without limitation, any internet access fees, back-up expenses, costs incurred for the use of your device and peripherals, and any damage to any equipment, software, information or data. We or our representatives shall not be responsible for any damage caused to your brand, reputation, revenue and income because of the beta nature of the Services. In addition, we are not obligated to provide any maintenance, technical, or other support for the Beta Services.
You hereby agree to indemnify, defend and hold the Company, its affiliates, officers, directors, employees, consultants, licensors, agents, and representatives harmless against any and all claims, lawsuits, actions, damages, liabilities and costs and expenses, including reasonable attorney fees, arising out of any act or omission of yours in connection with your use or misuse of the Platform or any breach of these T&Cs or the Service Terms or infringement of any IPR or other rights of the Company or any third-party (collectively, “Claims
”). We will notify you promptly of any such Claim and in addition to the foregoing, you agree to provide us with reasonable assistance, at their expense, in defending any such Claim.
Notwithstanding anything contained herein and to the fullest extent permitted by law, it is expressly agreed and acknowledged by you that the Company, its directors, officers, employees, agents or content or service providers (collectively, the “Company Representatives
”) shall not be liable or responsible for any Claim or for any direct, indirect, special, incidental, consequential, exemplary, special, remote or punitive damage, including, but not limited to damages for loss of profits, goodwill, use, data or other intangible losses arising from, or directly or indirectly related to, the use of, or the inability to use, the Platform or the content, materials and functions related thereto, the Services,
provision of information via the Platform, lost business, even if you have been advised of the possibility of such damages..
The maximum aggregate liability of the Company and the Company Representatives for cost, expenses, compensations, damages, loss or liability, etc. under these T&Cs, or for any claim or action arising out of or in relation to any breach of these T&Cs or for negligence or under any tort or other common law or arising from or connected with these terms and conditions, shall be limited to $50.
NFTs are an intangible digital asset and exist only by virtue of the ownership record maintained in the Ethereum blockchain network. Any transfer of title that might occur in any unique digital asset occurs on the decentralized ledger within the Ethereum platform and neither we nor our Services store, send, or receive NFT. We do not guarantee that we can effect the transfer of title or right in any NFT and any such transfer occurs within the supporting blockchain and not on this Service or Platform. The Service relies on third-party platforms to perform the transactions for purchase, sale and auction of the NFT. Access to and use of the Service may suffer due to any factor affecting the services provided by such third-party platforms.
The Company will try to make access to and use of the Platform error-free and without interruptions. However, your access to the Platform may be occasionally suspended or restricted to allow for repairs, maintenance, or for introduction of new facilities or Services on the Platform. The Company does not take responsibility for any access or usage problems that arise from internet related issues at your end.
All information in relation to third parties, including Sellers and the NFTs listed by them on the Platform (“Third Party Information
”) are provided only for reference. The Company, in its capacity of an intermediary under the applicable laws, is not endorsing Third Party Information and is not responsible for any errors and representation nor is it associated with it and you shall access the Third Party Information at your own risk.
The Platform may contain user generated content which the Company does not pre-screen, and which contains views that may be opinions of users/ experts. The Company will endeavor to monitor, edit or remove such user generated content where it is necessary to do so (for instance, if such content violates these T&Cs). The Company does not promise that the user generated content on the Platform is accurate, complete or updated, that it will not offend or upset any person or that it does not infringe the IPR of third parties.
The Services included on or provided through the Platform are provided on an “as is” and “as available” basis without any representations or warranties, express or implied, except as otherwise specified in writing. The Company does not covenant or provide any representations and warranties: (i) in respect of quality, suitability, accuracy, reliability, performance, safety, merchantability, fitness for a particular purpose/consumption or the content on the Platform; (ii) that the Services will be made available at all times; (iii) that the operation of the Platform, including the functions contained in any content, information and materials on the Platform or any third-party sites or services linked to the Platform will be uninterrupted, or that the defects will be rectified, or that the Platform or the servers that make such content, information and materials available are free of viruses or other harmful components; and (iv) that the Platform content available on the Platform is complete, true, accurate or non-misleading.
To the maximum extent permitted by applicable law, the Company disclaims any liability against any loss, damage, expenses, liabilities, claim, injury caused due to the failure of performance, omission, defect of products, or deletion, interruption, error, delay, virus, communication, unauthorised access, theft, destruction, alteration or use of records on the Platform. The Company is not responsible for the content of any third party sites and does not make any representations regarding the content or accuracy of material on such sites. If you decide to access links of any third party platforms, you are doing so entirely at your own risk and expense.
Furthermore, you agree and acknowledge that NFTs and cryptocurrencies are always subject to market risk. Do your own research and thereafter invest in or buy and sell NFTs or BollyCoin.
Term and termination
These T&Cs takes effect from the date of their publication on Platform. We reserve the right to terminate the Services in the event of breach of any terms contained in these T&Cs, misrepresentation of information, any unlawful activity by you or if we are unable to verify or authenticate any information submitted by you.
You may terminate these T&Cs at any time, provided that you discontinue any further use of Platform or Services. However, any such termination shall not cancel your obligation to pay for a NFT purchased on Platform, or any other obligation which has accrued, or is unfulfilled and relates to the period, prior to termination.
Notwithstanding anything contained in these T&Cs, if we reasonably believe that you are acting in breach of any of these T&Cs, in addition to our right to immediately suspend or terminate your user Account and/or delete your listings from the Platform, we also reserve the right, at our sole and absolute discretion and without notice or liability to you, to take any or all of the following actions: (a) to deem any Sale Transaction that took place via or as the result of such activities to be void ab initio
; and/or (b) to immediately confiscate any NFTs that were purchased or acquired as the result of such activities without any liability to you to reimburse or refund you for such confiscated NFTs.
We will not be held responsible for any delay or failure to comply with its obligations if the delay or failure arises from any cause which is beyond our reasonable control.
No provision in these T&Cs will be deemed waived and no breach excused, unless such waiver or consent is in writing and signed by the Company. Any consent by the Company to, or waiver of your breach, whether expressed or implied, will not constitute consent to, waiver of, or excuse for any other different or subsequent breach.
If any provision of these T&Cs is held by a court of competent jurisdiction to be unenforceable under applicable law, then such provision will be excluded from these T&Cs and the remainder of these T&Cs will be interpreted as if such provision were so excluded and will be enforceable in accordance with its terms; provided however that, in such event, these T&Cs will be interpreted so as to give effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the excluded provision as determined by such court of competent jurisdiction.
You may submit any grievance with respect to Platform or the Services, including with respect to any abuse on Platform including any discrepancies or grievances with respect to access or usage of Platform in violation of these T&Cs by any person, to the Grievance Officer at:
Address: British Virgin Islands
As mentioned earlier, these T&Cs are subject to amendments and modifications and may be updated from time to time, without any advance notice. You are requested to regularly review the T&Cs as available on Platform. You relationship with Platform will be governed by the most current version of these T&Cs, as published on Platform.
These T&Cs supersede all previous oral and written terms and conditions (if any) communicated to you by Company, for the use of Platform, and the rights and liabilities with respect to any Services to be provided by Company shall be limited to the scope of these T&Cs.
Governing Law and Jurisdiction
These T&Cs, the Service Terms all transactions consummated between Company and you, and the relationship between Company and you are governed by the laws of British Virgin Islands, without reference to any conflict of laws principles and with an exclusive jurisdiction to the competent courts of the British Virgin Islands.