Welcome to the OKX Web3 Market User Agreement, your comprehensive guide to understanding the terms and responsibilities involved when accessing and using the OKX Web3 marketplace. This agreement outlines how you can securely interact with digital assets such as NFTs, tokens, and other blockchain-based collectibles while ensuring compliance, transparency, and user accountability.
Whether you're a creator minting your first NFT or a collector trading digital art, this document is essential for navigating the decentralized ecosystem safely. Below, we’ve structured the full agreement into clear, easy-to-follow sections that maintain the original intent while improving readability, SEO performance, and user engagement.
1. Understanding the Service
What Is the OKX Web3 Market?
The OKX Web3 Market serves as a decentralized interface enabling users to trade, exchange, and manage digital assets—including NFTs, inscriptions, and other tokenized collectibles—on supported blockchain networks. It functions solely as a technological platform and does not act as a party in any transaction.
👉 Discover how decentralized marketplaces are shaping the future of digital ownership.
Key Features:
- Provides a virtual marketplace for peer-to-peer digital asset transactions.
- Supports NFT creation (minting) on OKX’s blockchain or compatible third-party networks.
- Aggregates listings from external platforms to enhance discovery and liquidity.
Important: OKX does not hold custody of your assets, participate in trades, or control wallet access. All transactions occur directly between users via blockchain protocols.
Transaction Timing and Blockchain Dependency
Transaction execution times depend entirely on the confirmation speed of the underlying third-party blockchain (e.g., Ethereum, Solana). Network congestion, gas fees, and validator activity may influence processing delays.
You acknowledge that:
- Final settlement occurs upon blockchain confirmation.
- Displayed transaction status in your wallet is definitive.
- OKX cannot expedite or guarantee specific processing windows.
Digital Wallet Requirements
To use the service, you must connect a non-custodial digital wallet—such as OKX Web3 Wallet—which gives you full control over private keys and recovery phrases.
Your Responsibilities Include:
- Safeguarding your password, seed phrase, and private keys.
- Ensuring correct recipient addresses before initiating transfers.
- Accepting full liability for losses due to human error, phishing, or unauthorized access.
🔐 No Recovery Option: Since OKX has no access to your wallet credentials, lost or compromised keys cannot be recovered by us. Always back up your information securely.
2. Fees Associated With Usage
Using the OKX Web3 Market involves several types of fees, all paid directly by the user.
Miner Fees (Gas Fees)
These are network-level charges imposed by the blockchain for processing transactions (e.g., minting, transferring, listing). You are solely responsible for covering these costs at the time of execution.
Third-Party Protocol Fees
Additional charges may apply when interacting with external smart contracts or decentralized applications (dApps), especially during cross-chain transfers or complex swaps.
Service Fees
OKX may charge a transaction-based fee—typically a percentage of the trade value—for facilitating access to its platform. These fees are automatically deducted from your proceeds during settlement.
- Fee rates are published transparently on the OKX platform.
- OKX reserves the right to update fee structures with prior notice via website updates.
3. Ownership and Intellectual Property Rights
General Asset Ownership
Digital assets exist on public blockchains and are governed by smart contracts. While ownership of an NFT is verifiable on-chain, it does not automatically confer intellectual property rights to the underlying artwork or content ("Artwork").
Creator Responsibilities
If you mint or list digital assets, you affirm that:
- You own or have legal rights to the Artwork used.
- The content does not infringe third-party copyrights, trademarks, patents, or trade secrets.
- No harmful, defamatory, or illegal material is included.
You agree to indemnify OKX against claims arising from IP violations related to your listed items.
Buyer Acknowledgement
Purchasing an NFT grants you ownership of the token but not the copyright or commercial rights to the associated Artwork—unless explicitly agreed upon in writing with the creator.
However, you receive a limited, royalty-free license to:
- Use the Artwork for personal, non-commercial purposes.
- Display it on platforms that cryptographically verify ownership (e.g., NFT marketplaces).
- Share it within communities where visibility ends once ownership changes.
This license supports fair use while protecting creators' rights across decentralized ecosystems.
Secondary Sales
You retain the right to resell your NFTs on any compliant marketplace. However:
- Only actual owners should display the Artwork.
- Platforms must implement cryptographic verification to prevent unauthorized use.
4. Risk Disclosures and Limitations
No Guaranteed Timelines
Blockchain confirmations vary. Delays in receiving assets do not constitute service failure. OKX assumes no liability for timing discrepancies.
Cumulative Liability Cap
Under no circumstances will OKX’s total liability exceed the amount of service fees collected from you.
Address Errors
Sending assets to incorrect addresses results in permanent loss. Always double-check wallet addresses before confirming transactions. OKX is not liable for user-input errors.
👉 Learn how secure wallet practices can prevent irreversible losses.
User Accountability
You assume full responsibility for losses caused by:
- Forgotten passwords or exposed private keys.
- Phishing attacks or device compromises.
- Incorrect blockchain selections (e.g., sending tokens to incompatible chains).
Third-Party Risks
The service integrates with external blockchains, dApps, websites, and APIs ("Third-Party Services"). While convenient, these come with inherent risks:
- Smart contract vulnerabilities.
- Hacks or exploits.
- Service outages or shutdowns.
- Regulatory suspensions or insolvencies.
⚠️ No Endorsement: Links to third-party services are provided for convenience only. OKX does not review, approve, or monitor their content. Use them at your own risk.
Blockchain Failures
Service disruptions may occur due to:
- Network congestion or outages.
- Maintenance periods.
- Cyberattacks or technical faults.
- Government regulations or force majeure events (e.g., natural disasters).
In such cases, OKX may delay or cancel transactions without liability.
5. Prohibited Activities
To maintain market integrity and security, OKX strictly prohibits:
- Market manipulation or price spoofing.
- Exploiting bugs or system vulnerabilities.
- Infringing others’ privacy or intellectual property.
- Engaging in illegal activities or violating local laws.
OKX reserves the right to:
- Suspend or terminate accounts.
- Cancel pending orders.
- Report suspicious behavior to authorities.
No compensation will be provided for actions taken under this policy.
6. Disclaimer of Warranties
All services are provided “as is” and “as available” without warranties of any kind—express or implied—including merchantability, fitness for a particular purpose, or accuracy of data.
Digital assets are traded in their current state. OKX makes no representations regarding:
- The authenticity, originality, or value of listed items.
- Future performance or liquidity of NFTs.
- Legal compliance across jurisdictions.
7. Limitation of Liability and Indemnification
You agree to:
- Defend and indemnify OKX against third-party claims related to your use of the service.
- Cover legal costs and damages arising from breaches of this agreement.
OKX shall not be liable for:
- Indirect, incidental, punitive, or consequential damages.
- Lost profits or business interruption.
- Personal injury or property damage (unless required by law).
Some jurisdictions limit liability disclaimers; applicable laws may override these terms locally.
8. Governing Law
This agreement is governed by the laws of Singapore, without regard to conflict-of-law principles.
9. Dispute Resolution
Step 1: Mediation
Any dispute must first undergo mediation through the Singapore International Mediation Centre (SIMC) under its current rules.
Step 2: Arbitration
If unresolved within 90 days (or extended by mutual consent), disputes proceed to binding arbitration via the Singapore International Arbitration Centre (SIAC).
Arbitration Terms:
- Seat: Singapore
- Language: English
- Panel: Three arbitrators (one appointed by each party; third by SIAC President)
- Confidentiality: All proceedings and outcomes remain private unless disclosure is legally required.
✅ Final awards are enforceable in any competent court worldwide.
No Class Actions
You agree to resolve disputes individually—not as part of a class action, collective lawsuit, or representative proceeding.
10. General Provisions
Agreement Acceptance
By using the service, you confirm that:
- You have read and accepted these terms.
- You comply with all applicable rules and policies.
- You allow OKX to modify this agreement with notice via website updates.
If you disagree with changes, discontinue use immediately.
Language Control
In case of conflict between translations, the English version prevails. OKX holds sole authority for interpretation.
Frequently Asked Questions (FAQ)
Q: Does buying an NFT give me copyright ownership?
A: No. Unless explicitly stated by the creator, purchasing an NFT only grants ownership of the token—not the intellectual property behind the artwork.
Q: Can OKX recover my lost funds if I send crypto to the wrong address?
A: Unfortunately, no. Transactions on public blockchains are irreversible. Always verify addresses carefully before sending assets.
Q: Who handles customer support for third-party dApps linked through OKX?
A: Support is managed exclusively by the respective third-party provider. OKX does not intervene in external platform issues.
Q: Are there hidden fees beyond what’s listed?
A: No. Miner fees and service charges are transparently disclosed during transaction flow. Third-party protocol fees may apply depending on interaction type.
Q: Can I use any wallet with OKX Web3 Market?
A: Yes, as long as it's a non-custodial wallet compatible with supported blockchains (e.g., MetaMask, Trust Wallet, OKX Wallet).
Q: How often are these terms updated?
A: Updates occur periodically based on regulatory developments or platform enhancements. Always check the “Last Updated” date for revisions.
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