To use FTM Game’s marketplace, you must agree to a set of terms that govern everything from account creation and asset transactions to user conduct and dispute resolution. These terms are legally binding, so understanding them is crucial for a smooth and secure experience. Let’s break down the key components in detail.
User Accounts and Registration
Getting started on the marketplace requires creating an account. This isn’t just a formality; it’s your digital identity for all transactions. You must be at least 18 years old or the age of majority in your jurisdiction to register. During sign-up, you agree to provide accurate, current, and complete information. This includes a valid email address, which is essential for verification and communication. The platform uses this data to combat fraud and ensure compliance with FTMGAME policies. You are solely responsible for all activities under your account, meaning you must keep your login credentials secure. If you suspect unauthorized access, you must notify support immediately. Failure to secure your account could lead to financial loss, and the platform’s liability in such cases is typically limited as outlined in the terms.
Transaction Mechanics and Financial Terms
This is the core of the marketplace experience. Transactions involve buying, selling, and trading digital assets, primarily using cryptocurrency. The terms specify that all sales are final unless otherwise stated, emphasizing the importance of double-checking every transaction detail before confirming. The marketplace often acts as an intermediary, providing the platform but not holding the assets itself in a custodial capacity. This is a key distinction with significant implications for risk.
The financial terms are particularly dense. Here’s a typical breakdown of fees associated with transactions:
| Transaction Type | Platform Fee | Network Fee (Gas) | Notes |
|---|---|---|---|
| Primary Sale (Initial Purchase) | 2.5% | Variable (paid by buyer) | Fee is calculated on the final sale price. |
| Secondary Market Sale | 2.5% (seller side) | Variable (paid by seller) | Deducted automatically from the sale proceeds. |
| Transfer of Assets between Wallets | 0% | Variable (paid by sender) | This is a blockchain transaction, not a platform sale. |
It’s critical to understand that network fees (or “gas”) are separate from platform fees. Gas fees fluctuate based on blockchain congestion and are paid to network validators, not to the marketplace. These fees can sometimes exceed the value of the asset itself during periods of high demand, so users need to be savvy about timing their transactions. All financial transactions are logged on the blockchain, providing a transparent and immutable record.
Intellectual Property and Asset Ownership
This is a major point of confusion for many. The terms of service clearly distinguish between ownership of the digital asset (the NFT itself) and the intellectual property (IP) rights of the underlying content. When you purchase an asset on the marketplace, you typically own that specific token on the blockchain. However, the copyright, trademarks, and other IP associated with the image, video, or game character might remain with the original creator.
For example, buying a character skin doesn’t grant you the right to mass-produce t-shirts with that character’s image unless the terms explicitly state that commercial rights are transferred. The terms mandate that creators must have the necessary rights to mint and sell the assets they list. As a buyer, you are responsible for verifying these rights if you intend to use the asset for commercial purposes. Infringement claims are taken seriously and can result in the freezing or removal of assets from the marketplace.
Prohibited Conduct and User Obligations
To maintain a safe and legal environment, the terms lay out a extensive list of prohibited activities. Violating these can lead to immediate account suspension or termination. Key prohibitions include:
- Illegal Activities: Using the marketplace for money laundering, terrorist financing, or any other illegal purpose is strictly forbidden. The platform is obligated to comply with global sanctions lists and anti-money laundering (AML) regulations.
- Fraud and Misrepresentation: Listing counterfeit assets, engaging in wash trading (artificially inflating trading volume), or scamming other users is grounds for permanent banning.
- Harmful Code and Attacks: Introducing malware, attempting to hack the platform, or executing denial-of-service attacks is prohibited.
- Abusive Behavior: Harassment, hate speech, and posting offensive content within community features are not tolerated.
Users are obligated to report any suspicious activity they encounter. This communal vigilance is a critical part of the ecosystem’s health. The terms also typically disallow the use of the platform by individuals in jurisdictions where such marketplaces are restricted or illegal.
Disclaimers, Limitation of Liability, and Dispute Resolution
This is the legal “fine print” that protects the platform operator. The terms explicitly state that the service is provided “as is” and “as available.” This means there are no guarantees of uninterrupted, error-free service. The platform disclaims all warranties to the fullest extent permitted by law.
The limitation of liability clause is one of the most critical sections. It typically states that the platform’s total liability to a user for any claims will not exceed the greater of (a) the amount of fees the company received from you in the last six months or (b) one hundred dollars. This means if a bug or error causes you to lose a valuable asset, your recourse is extremely limited. This underscores the importance of using a self-custody wallet and understanding the inherent risks of blockchain technology.
Dispute resolution usually follows a two-step process: first, informal negotiation, and second, binding arbitration. By agreeing to the terms, users often waive their right to participate in a class-action lawsuit and agree to resolve disputes through individual arbitration. The terms also specify the governing law; for instance, a company based in Singapore might state that Singaporean law governs the agreement.
Modifications to the Terms and Termination
The platform reserves the right to update the terms of service at any time. They are not set in stone. Users are typically notified of material changes via email or a prominent notice on the website. Continued use of the service after changes take effect constitutes acceptance of the new terms. If you disagree with the modifications, your only recourse is to stop using the service and terminate your account.
Termination can be initiated by either party. You can close your account at any time. The platform can suspend or terminate your account for violations of the terms, fraudulent activity, or even for operational reasons. Upon termination, your right to access the marketplace ceases immediately, but provisions of the terms that are meant to survive termination (like arbitration clauses and limitation of liability) will continue to apply.