Legal Disclaimer
1. Introduction
This legal disclaimer (the “Disclaimer”) sets out the important information you need to know about the services provided by Openfabric Network LTD (the “Company”). By accessing or using any services provided by the Company, you agree to be bound by the terms and conditions set forth in this Disclaimer. If you do not agree with any part of this Disclaimer, you must immediately cease using the Company’s services.
2. No Financial Services Provider
The Company is not a financial services provider. We do not offer, provide, or imply financial services or advice of any kind. Our services are strictly limited to operating as a marketplace that unites content providers with consumers for a fee. The Company does not engage in any activities that would require it to be registered as a financial services provider under applicable laws.
3. No Investment Firm or Advisor
The Company is not an investment firm, and we do not offer investment advice or recommendations. The Company does not manage, allocate, or invest funds on behalf of any user. All decisions related to the purchase or use of our utility token are solely the responsibility of the user. The Company does not provide guidance on investment strategies or financial products.
4. No Virtual Activities Services
The Company does not provide virtual activities services. Our platform is not intended to facilitate or engage in any form of virtual currency transactions beyond the use of our own utility token for access to services and content within our marketplace. The utility token issued by the Company is solely for use within our platform and has no application or value outside of this specific ecosystem.
5. No Escrow or Advisory Services
The Company does not offer escrow services or act as an advisor for any transactions conducted through our platform. All transactions and interactions between content providers and consumers are conducted directly between the parties involved, with the Company merely facilitating the connection and providing the platform for such exchanges.
6. Nature of Services Provided
The services provided by the Company should not be treated as advice or recommendations. Our platform functions as a marketplace where content providers can offer their services or products, and consumers can access or purchase these offerings. The Company charges a fee for the use of its platform and the transaction of services within its ecosystem.
7. Utility Token Usage
The Company uses its own cryptocurrency, which functions strictly as a utility token. The token is used solely to facilitate transactions within our platform and does not have any inherent value outside of this use. The token is not intended to function as a security, digital money, or any form of financial instrument.
8. Tokens Are Not Securities
Our utility token is not a security and does not possess the features typically associated with securities. The token does not guarantee any ownership rights, dividends, profit-sharing, or any other financial benefits typically associated with investment securities. The utility token is not intended to appreciate in value and should not be purchased with any expectation of financial gain.
9. Tokens Are Not Digital Money
The utility token issued by the Company is not digital money. It is not backed by any fiat currency or other assets. The token is strictly a means of accessing services and content within the Company’s platform.
10. Tokens Are Not Backed by Anything
The utility token is not backed by any physical or digital assets, commodities, or financial instruments. The value of the token is entirely dependent on its utility within the Company’s platform and the demand for the services and content offered therein.
11. Limitation of Liability
To the fullest extent permitted by law, the Company, its affiliates, officers, directors, employees, agents, and licensors will not be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising out of or related to your use of the services or the utility token, including but not limited to loss of profits, data, use, goodwill, or other intangible losses, whether based on warranty, contract, tort (including negligence), statute, or any other legal theory, even if the Company has been advised of the possibility of such damages.
You understand that buying a token can be a high risk activity, the token price can change, so any invested money in the token can be lost. Please, consider that risk before buying, and if the risk is rather high for Your financial situation, avoid buying tokens.
The Company does not warrant that the services will be uninterrupted, timely, secure, or error-free. The Company makes no representations or warranties regarding the accuracy, completeness, or reliability of any content provided on or through the platform. You acknowledge and agree that your use of the services and the utility token is at your own risk.
Nothing on openfabric.ai website is an offer to sell, or the solicitation of an offer to buy, any tokens. Openfabric is publishing this website solely to receive feedback and comments from the public. Nothing in this website should be treated or read as a guarantee or promise of how Openfabric’s business, services or the token will develop or of the utility or value of the token.
The openfabric.ai website outlines current plans, which could change at its discretion, and the success of which will depend on many factors outside Openfabric’s control, including market-based factors and factors within the data and cryptocurrency industries, among others. Any statements about future events are based solely on Openfabric ’s analysis of the issues described on openfabric.ai website. That analysis may prove to be incorrect.
12. Indemnification
You agree to indemnify, defend, and hold harmless the Company, its affiliates, officers, directors, employees, agents, and licensors from and against any and all claims, liabilities, damages, losses, expenses, or fees ( including reasonable attorneys’ fees) that arise from your use of the services or the utility token, your violation of this Disclaimer, or your infringement of any intellectual property or other right of any person or entity.
13. Governing Law
This Disclaimer and any disputes arising out of or related to the use of the Company’s services or utility token will be governed by and construed in accordance with the laws of BVI, without regard to its conflict of law principles.
14. Amendments
The Company reserves the right to amend or modify this Disclaimer at any time. Any changes will be effective immediately upon posting the revised Disclaimer on our platform. Your continued use of the services following the posting of changes constitutes your acceptance of such changes.
15. Contact Information
If you have any questions or concerns regarding this Disclaimer or the services provided by the Company, please contact us at [email protected].
16. Conclusion
By using the Company’s services and utility token, you acknowledge that you have read, understood, and agree to be bound by this Disclaimer. You further acknowledge that the Company is not providing financial, investment, or advisory services and that the utility token is not a security, digital money, or backed by any assets.
