Artist Supplement to Terms of Use

Version 1.0

Last Revised on June 30, 2020

This Artist Supplement to Terms of Use (“Artist Terms”) constitute an agreement between you (the “Artist” as defined in the Terms of Use which can be found at http://www.async.art/terms) and Asynchronous Art, Inc. (“Async,” “Company,” “us,” “our,” and “we”). This agreement supplements both the Terms of Use and the Privacy Policy which are incorporated by reference in its entirety. The Privacy Policy can be found at http://async.art/privacy. Your submission of your application to become an Artist constitutes your agreement to these Artist Terms. You agree and acknowledge that Async has sole discretion regarding acceptance of your application to become an Artist.

  1. Connecting the Wallet.Before you can upload Artwork as an Artist, you must first connect a Wallet to the Site using a public address; Async will add your public address to a list of whitelisted addresses it maintains (“Whitelisting Services”). You acknowledge and agree that Async may remove a public address from the whitelist at anytime. You must only connect a Wallet that you have exclusive control and ownership of. You may also choose to assign a username and avatar that will be linked to your Wallet. If a username is not provided, you will only be identified by your Wallet address.
  2. Uploading the Artwork.Once you have connected a Wallet, you may upload your Artwork to the Site. You accept and acknowledge that the Artwork will be uploaded and hosted on a cloud-based service provider of Async’s choosing. Async will subsequently upload the Artwork onto an IPFS service provider of Async’s choosing as a means of backing up the Artwork (“IPFS Hosting Services”). You acknowledge and agree that Async may change service providers at any time without notice to you.
  3. Delisting Artwork.
    1. Even if your profile has been deleted from the Site, you will continue to be subject to the Terms of Use and Artist Terms, and your Artwork will continue to be listed on the Site. You may request that Async delist your Artwork from the Site at any time by emailing Async your request at privacy@async.art. However, you acknowledge that your Artwork may continue to be hosted on the IPFS server and that Collectors may continue to own and trade the Master and Layer Tokens.
    2. You agree and acknowledge that Async may delist your Artwork from the Site and request the IPFS service provider to cease hosting your Artwork on the IPFS server at any time, for any reason, at our sole discretion, including for any use of the Site in violation of the Artist Terms or Terms of Use.
  4. Minting.Once the Artwork has been uploaded on the Site, you will be able to mint Tokens using the Smart Contract in accordance with the Artist Terms. You agree and accept that for each Master, you can mint one Token, and for each Layer, you can mint one Token. Our Site will autofill the relevant fields in your connected Wallet to assist with the minting process (“Autofilling Services”).
  5. Fees and Artwork Sales.
    1. Fees. You agree that 10% of your first sale (“Primary Sale”) will go to Async as a commission fee (“Commission”), in acknowledgment of Async’s provision of the Marketplace Services, Rendering Services, Browsing Services, Whitelisting Services, IPFS Hosting Services, and Autofilling Services.
    2. Primary Sales. You agree that all Primary Sales of new Tokens minted will be executed via our Site. If you conduct your Primary Sale of the Master or Layer Tokens on any third-party platform or directly with any Collector, this will be considered a breach of both the Artist Terms and the Terms of Use.
    3. Royalties. You have the right to receive 10% of any subsequent sales of your minted Tokens (“Secondary Sales”) executed on our Site.
    4. Secondary Sales. You acknowledge that Async has no control over Secondary Sales that occur outside of our Site, and that Secondary Sales may occur directly between Collectors or on third party exchange platforms (“Exchanges”). Async makes no representation to rights that may arise from transactions that occur outside of our Site. Async may enter into agreements with Exchanges that list Master and Layer Tokens (“Affiliated Exchanges”). You acknowledge that Async has no obligation to maintain any arrangements with Affiliated Exchanges, and that Royalties received from Exchanges will be delivered to Artists in Async’s discretion.
  6. Termination. Subject to Section 12 of the Terms of Use, the Artist Terms will remain in full force and effect while your Artwork is listed on the Site.