Etherscent Formula is a collection of digital artworks (NFTs) running on the Ethereum network.

i. You Own the NFT. Each Etherscent Formula is an NFT on the Ethereum blockchain. When you purchase an NFT, you own the underlying Etherscent Formula, the Art, completely. Ownership of the NFT is mediated entirely by the Smart Contract and the Ethereum Network: at no point may we seize, freeze, or otherwise modify the ownership of any Etherscent Formula.

Subject to your continued compliance with these Terms, Etherscent DAO grants you a worldwide, royalty-free license to use, copy, and display the purchased Art, along with any extensions that you choose to create or use, solely forthe following purposes: (i) for your own personal, non-commercial use; (ii) as part of a marketplace that permits the purchase and sale of your Etherscent Formula / NFT, provided that the marketplace cryptographically verifies each Etherscent Formula owner’s rights to display the Art for their Etherscent Formula to ensure that only the actual owner can display the Art; or (iii) as part of a third party website or application that permits the inclusion, involvement, or participation of your Etherscent Formula, provided that the website/application cryptographically verifies each Etherscent Formula owner’s rights to display the Art for their Etherscent Formula to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner ofthe Etherscent Formula leaves the website/application.

Subject to your continued compliance with these Terms, Etherscent DAO grants you an unlimited, worldwide license to use, copy, and display the purchased Art for the purpose of creating derivative works based upon the Art (“Commercial Use”). Examples of such Commercial Use would e.g. be the use of the Art to produce and sell merchandise products (T-Shirts etc.) displaying copies of the Art. For the sake of clarity, nothing in this Section will be deemed to restrict you from (i) owning or operating a marketplace that permits the use and sale of Etherscent Formulas generally, provided that the marketplace cryptographically verifies eachEtherscent Formula owner’s rights to display the Art for their Etherscent Formula to ensure that only the actual owner can display the Art; (ii) owning or operating a third party website or application that permits the inclusion, involvement, or participation of Etherscent Formulas generally, provided that the third party website or application cryptographically verifies each Etherscent Formula owner’s rights to display the Art for theirEtherscent Formula to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Purchased Etherscent Formula leaves the website/application; or (iii) earning revenue from any of the foregoing.