Nature of the NFTs

NATURE OF THE NFTS

The NFTs are designed to be utilised, and that is the goal of the NFT distribution process.

In fact, the Project would fail to develop and even fail completely, if all the NFT holders simply held their NFTs and did not actively use them to access and participate in the Project.

It is further highlighted that the NFTs:

  • do not have any tangible or physical manifestation, and do not have any intrinsic value (nor does any person in the OTK team make any representation or give any commitment as to its value);

  • is non-refundable and cannot be exchanged for cash (nor its equivalent value in any other digital asset) nor any payment obligation by the Company or any of their respective affiliates;

  • does not represent or confer on the NFT or token holder any right, in any form to the Company (or any of their respective affiliates), its revenues or assets, including without limitation any right to receive future dividends, revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or licence rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to the Company and/or its service providers;

  • is not intended to represent any rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;

  • is not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument, unit in a collective investment scheme or any other kind of financial instrument or investment;

  • is not a loan to the Company or any of their respective affiliates, is not intended to represent a debt owed by the Company or any of their respective affiliates, and there is no expectation of profit;

  • and does not provide the NFT holder with any ownership or other interest in the Company or any of their respective affiliates.

Last updated