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NFT Art Licence Agreement whereby the Artist grants the Minter / Gallery to convert the Art into a Digitalised Non-fungible Token for sale and the Minter is entitled to a commission.
An NFT License Agreement sets out the terms upon which the Minter obtains the license to use the Art for the purposes of Creating and Selling a Digitized Token - NFT. The Artist has agreed to grant a licence to the Minter to create an in the Art on the terms and conditions set out in this Agreement.
In this Agreement. the Artist:
(a) warrants the ownership of the Art and will not create a second NFT;
(b) waives its moral rights in the Art;
(c) undertakes to indemnify the Minter for any losses suffered due to any act or commissions of the Artist.
The Minter shall be responsible for the cost of creating and arranging the sale of the NFT of the Art. Minter shall be solely responsible for expenses as they relate to reproducing Art as outlined in the Scope of Work. Minter will have no additional financial liabilities or royalties due to the Artist outside of the agreed-upon license fee and commission. The Minter will receive a commission for the sale.
The Minter shall accord credit on any use or reproduction of the Art in the name of the Artist and shall agree with all other parties who display the Art for the NFT sale that they shall accord us the same credit. However, any failure to give photo credit to the Licensor does not constitute a breach of this Agreement.
Both the Artist's and Minter's information should be provided in this agreement, along with their principal places of business.
The license fee and commission should also be specified, as well as a clear description of the ART to be licensed by the Artist.