![]() ![]() created within the Soonaverse platform.Ģ.3 User Content License. This one speaks for itself.Īnd, if you think that’s bad enough, how about spaces, collections, and creators on the Soonaverse platform? This is the big one surrounding user created content i.e., NFTs, collections, spaces, all data, submissions, images, metadata, projects, DAOs, etc. ![]() Which from a legal perspective means they can delete, remove, do whatever the hell they want with them at any time, and you have no legal say in this matter. Highlighted in bold – you never OWN your NFT, you haven’t purchased it. When you transfer, sell or trade a SoonLabs NFT to another party, that party shall receive a new license from SoonLabs covering the rights of that NFT and your rights to the NFT are revoked. You agree that no title or ownership interest in a SoonLabs NFT is transferred or assigned to you and that the TOS is not a sale of any right to a SoonLabs NFT. You may only use one of each SoonLabs NFT and do not have the right to make copies. If you purchase, or receive through a legitimate trade or sale, a SoonLabs NFT, SoonLabs grants you a non-exclusive, non-sublicensable, non-transferrable, revocable, limited license to use such SoonLabs NFT. Let’s look at the ownership of and rights to your SoonLabs NFT.Ģ.1 License. Let’s take a look at some of the crazy terms contained within, starting with the big money maker for the platform their Soonaverse NFT sale. Unfortunately, in the case of the Soonaverse the majority of terms support only the Soonaverse platform and not the rights of others. The concern here is, when a platform dubs itself as the supporter of creators, projects and buyers in the NFT space the ToS should reflect that. Soonaverse have one and it has clearly been written by a clever legal mind – albeit somewhat Zuckerberg-esque. ToS are legal statements that support all of the terms relating to a user’s interaction with a website, platform, or application. What drew my attention that created concerns to the projects very pro-community, pro-creator stance is their Terms of Service (ToS). This is clearly a current stop gap that can support early adoption leading towards the future releases of tokenization and smart contracts in the IOTA ecosystem. So, the only record of any ownership is held within their database.įor one individual project you can trust this seems viable - but when you are dealing with millions of dollars’ worth of NFTs across hundreds of projects this alone sends up warning bells, but still not malicious in any way. Ownership is recorded as a data entry on the IOTA ledger, which unfortunately is pruned over time. So, when you purchase an NFT on the Soonaverse platform you actually purchase a database entry that is stored in their records with a link to their IPFS file store. To be clear, this is not in fact an NFT Marketplace, tokenization is not available on the IOTA Network yet. What has been turning heads recently is the pivot and focus towards an NFT Marketplace as the central hub of the platform. The DAO platform is an impressive tool kit and provides easy to create spaces which allow (currently off-chain) voting within a DAO scenario, all on the feeless IOTA network. ![]() But is it all just a ploy to inadvertently trap projects into their platform? A quick read of their TOS brings up some scary truths.įirstly, we have to understand what the product actually is. Advertising themselves as a community focused DAO platform that can support creators and communities the Soonaverse promise is huge. Jonas Theis, Research Engineer at IOTA, working on IOTA 2.0.Īdam, Touchpoint,, Nicolaescu, IM.CITY, ĭr.I rarely enter the reddit space as a writer, but having discovered a number of things recently, I feel that a discussion surrounding a new “NFT Marketplace” that has cropped up in the IOTA ecosystem that boasts big promises for the community and its users is warranted. Holger Köther, Co-Founder Spyce5,, advisor to IOTA Mariana de la Roche Wills, Lead Project Management,, Dominik Schiener, Chairman of the Board of Directors & Co-Founder of IOTA, ![]()
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