Virtonomics token sale Terms and Conditions
Please carefully read this Terms and Conditions for ICO Participation (the “T&C”) before participating in Virtonomics ICO by buying VICoin tokens (the “VIC”) and/or using Virtonomics business simulation.
IF YOU DO NOT AGREE TO THESE TERMS, DO NOT PURCHASE VIC FROM THE COMPANY. BY PURCHASING VIC FROM THE COMPANY, YOU WILL BE BOUND BY THESE TERMS AND ANY TERMS INCORPORATED BY REFERENCE. By purchasing VIC, and to the extent permitted by law, you are agreeing not to hold any of the the Company and its respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Virtonomics Team”) liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of VIC, including losses associated with the terms set forth below.
DO NOT PURCHASE VIC IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS. PRIOR TO PURCHASING VIC, YOU SHOULD CAREFULLY CONSIDER THE TERMS LISTED BELOW AND, TO THE EXTENT NECESSARY, CONSULT AN APPROPRIATE LAWYER, ACCOUNTANT, OR TAX PROFESSIONAL. IF ANY OF THE FOLLOWING TERMS ARE UNACCEPTABLE TO YOU, YOU SHOULD NOT PURCHASE VIC.
PURCHASES OF VIC SHOULD BE UNDERTAKEN ONLY BY INDIVIDUALS, ENTITIES, OR COMPANIES THAT HAVE SIGNIFICANT EXPERIENCE WITH, AND UNDERSTANDING OF, THE USAGE AND INTRICACIES OF CRYPTOGRAPHIC TOKENS, INCLUDING ETHEREUM TOKENS, AND BLOCKCHAIN BASED SOFTWARE SYSTEMS. PURCHASERS SHOULD HAVE A FUNCTIONAL UNDERSTANDING OF STORAGE AND TRANSMISSION MECHANISMS ASSOCIATED WITH OTHER CRYPTOGRAPHIC TOKENS. WHILE THE COMPANY WILL BE AVAILABLE TO ASSIST PURCHASERS OF VIC DURING THE SALE, THE COMPANY WILL NOT BE RESPONSIBLE IN ANY WAY FOR LOSS OF BTC, ETH OR VIC RESULTING FROM ACTIONS TAKEN BY, OR OMITTED BY PURCHASERS. IF YOU DO NOT HAVE SUCH EXPERIENCE OR EXPERTISE, THEN YOU SHOULD NOT PURCHASE VIC OR PARTICIPATE IN THE SALE OF VIC. YOUR PARTICIPATION IN VIC SALE IS DEEMED TO BE YOUR UNDERTAKING THAT YOU SATISFY THE REQUIREMENTS MENTIONED IN THIS PARAGRAPH.
PURCHASER AGREES TO BUY, AND COMPANY AGREES TO SELL, THE C20 TOKENS IN ACCORDANCE WITH THE FOLLOWING TERMS:
- 1.1. “Agreement” means the following T&C stipulated, agreed and entered into between Marilana UAB (the “Virtonomics” or “Company”), which is a VIC token issuer and owner of a semi-decentralized online business game Virtonomics designed to utilize Blockchain assets and you (the “User”) and individual or entity that uses VIC. Company can change this T&C at any time and by using VIC you accept any updates or changes.
- 1.2. “Blockchain” means type of distributed ledger, comprised of unchangeable, digitally recorded, data in packages called blocks;
- 1.3. “VIC” means cryptographic utility tokens intended for the purchase of special virtual items in the online business simulator Virtonomics, which will be created by Virtonomics smart contracts;
- 1.4. “Ether” means cryptocurrency used within Ethereum to accept contributions for VIC;
- 1.5. “Initial Coin Offering” or “ICO” means a restricted initial coin offering by Virtonomics to eligible User regarding purchase of VIC.
- 1.6. “Smart Contract” means an account holding objects on the Ethereum Blockchain;
- 1.7. “Website” means https:virtonomics.com maintained and operated by the Company;
- 2.1. This Agreement is legally binding between User, on the one part, and the Company, on the other part, also individually referred to as a “Party” and collectively as the “Parties”.
- 2.2. This Agreement define basic mutual rights and obligations of the Company and the User, either registered or just visiting certain pages of the Website, during their use of the Website, including but without limitation, for the purpose of buying the VIC Tokens.
- 2.3. User shall not use the Website if it is prohibited under the applicable law. Any User that is in any manner limited or prohibited from the purchase, possession, transfer, use or other transaction involving any amount of VIC under the applicable law should not access this Website and is prohibited accessing, referencing, engaging, or otherwise using this Website.
- 2.4. This Agreement sets out terms and conditions for participation in pre-ICO, ICO and usage of VIC.
- 3.1. Virtonomics is a multiuser online business simulation game using Ethereum blockchain technology, which solves the key obstacles inhabiting the growth of gamified online business education industry and allowing for blockchain marketing initiatives.
- 3.2. Virtonomics will operate on Ethereum blockchain smart contracts and will introduce a new cryptocurrency called a “VIC”. Using dedicated smart contracts, the Ethereum blockchain will allow to convert of special game bonuses of Virtonomics (virts) into VICoin tokens. Smart contracts will allow users to conclude and execute transparent transactions with each other in the process of developing the virtual economy of the business game Virtonomics
- 4.1. VIC Tokens are available for purchase to eligible buyers only during the period of pre-ICO and ICO set out herein.
- 4.2. During the whole ICO including Pre-ICO period, the Company releases limited amount – max 40 million of VIC tokens into the market. Price of one VIC token is a subject to change depending on the period of buying. The number of the VIC Tokens allowed for purchase by one User is not limited. The VIC will be Ethereum-based cryptographic tokens of value.
- 4.3. VIC tokens allow User to play and buy special game items in multiuser business simulation game Virtonomics as well it can be used as an asset which has a potential to grow and be exchanged for a higher price at the later stage of the project
- 5.1. You should peruse, comprehend and carefully consider or seek legal advice as to the risks described below in addition to the other information stated in this Agreement, the Whitepaper, the Website or elsewhere before deciding to participate in the ICO. Participating in the ICO will be deemed as you having accepted all the risks outlined in this Agreement including a failure to create or maintain the platform.
- 5.2. Virtonomics shall not be responsible for any losses User may have face at this stage or any time later.
THIRD PARTY WEBSITES AND SERVICES
- 6.1. The Website and the VIC tokens are provided on an “as is” basis and without any warranties of any kind, either expressed or implied.
- 6.2. By participating in this ICO, the User agrees to the T&C and in particular warrants that:
- 6.2.1. that his/her funds in no way came from illegal or unethical sources, that the User is not using any proceeds or criminal or illegal activity, and that no transaction involving VIC tokens are being used to facilitate any criminal or illegal activity;
- 6.2.2. is of an age of majority to enter into this Agreement, meet all other eligibility and residency requirements, and are fully able and legally competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth herein and to abide by and comply herewith;
- 6.2.3. is aware of all the merits, risks and any restrictions associated with cryptographic tokens (their buying and use), cryptocurrencies and Blockchain-based systems, as well as you know how to manage them, and you are solely responsible for any evaluations based on such your knowledge;
- 6.2.4. has necessary and relevant experience and knowledge to deal with cryptographic tokens, cryptocurrencies and Blockchain-based systems, as well as you have full understanding of their framework;
- 6.2.5. is responsible for ensuring that he/she complies completely with its own local, national, state or country laws concerning participation in ICO or/and usage of VIC tokens. Company will not be responsible for any transactions in territories where such activities are deemed illegal.
- 6.2.6. is not acting for the purpose of speculative investment;
- 6.2.7. Is solely responsible for determining whether the acquisition of VIC is appropriate for him/her’
INTELLECTUAL PROPERTY RIGHTS
- 7.1. The pages of the Website may contain links to third-party websites and services. Such links are provided for your convenience, but their presence does not mean that they are recommended by the Virtonomics. In addition, Virtonomics does not guarantee their safety and conformity with any user expectations. Furthermore, we are not responsible for maintaining any materials referenced from another site, and makes no warranties for that site or this service in such context.
- 7.2. The Virtonomics assumes no obligations in the event of any damage or loss, or any other impact, directly or indirectly resulting from the use of any content, goods or services available on or through any such third-party websites and resources.
LIABILITY AND INDEMNIFICATION
- 8.1. To the extent that copyright or other intellectual property rights exist in the Virtonomics and/or Website, such as software, know-how, analysis or programs, those copyrights and other intellectual and industrial rights belong to the Company.
JURISDICTION AND APPLICABLE LAW
- 9.1. Virtonomics, as well as its officers, directors, agents, joint ventures, employees and suppliers, assumes no liability or responsibility for any loss arising out of or related to the use of the Virtonomics game or any technical, interruption or malfunction of the platform.
- 9.2. You acknowledge that participating in the ICO, purchasing and/or using VIC involves risk and you will not hold the Company accountable for any gains and losses that you incur as a result.
- 10.1. This Agreement is a subject to and governed by British Virgin Islands.
- 10.2. Any disagreements or disputes of the User and the Company, arising from this Agreement, shall be settled by negotiations between the parties. In case the agreement is not reached within 30 (thirty) days, it shall be settled by the competent court of British Virgin Islands.
- 10.3. The Company reserves the right to change the jurisdiction of the Company and this Agreement at any time at its own discretion.
- CONDITIONS TO VIC TOKEN SALE
YOU MAY NOT MAKE A ACQUIRE A VIC TOKEN IF YOU ARE A CITIZEN, RESIDENT (TAX OR OTHERWISE) OR GREEN CARD HOLDER OF THE UNITED STATES OF AMERICA, OR A CITIZEN OR RESIDENT OF THE REPUBLIC OF SOUTH AFRICA, OR LITHUANIA.
When you purchase, or otherwise receive, a VIC token, you may only do so by accepting the following conditions and, by doing so, you warrant and represent that the following are a true and accurate reflection of the basis on which you are acquiring the VIC tokens:
- neither the Company nor any of the Virtonomics Team has provided you with any advice regarding whether VIC is a suitable investment for you;
- you have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, such as Bitcoin and Ether, as well as blockchain-based software systems generally;
- you are legally permitted to receive and hold and make use of VIC in your and any other relevant jurisdiction;
- you will supply us with all information, documentation or copy documentation that we require in order to allow us to accept your purchase of VIC and allocate VIC to you;
- you have not supplied us with information relating to your acquisition of VIC or otherwise which is inaccurate or misleading;
- you will provide us with any additional information which may be reasonably required in order that we can fulfil our legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligation;
- you will notify us promptly of any change to the information supplied by you to us;
- you are of a sufficient age (if an individual) to legally obtain VIC, and you are not aware of any other legal reason to prevent you from obtaining VIC;
- you take sole responsibility for any restrictions and risks associated with receiving and holding VIC, including but not limited to these;
- by acquiring VIC, you are not making a regulated investment, as this term may be interpreted by the regulator in your jurisdiction;
- you are not obtaining or using VIC for any illegal purpose, and will not use VIC for any illegal purpose;
- you waive any right you may have / obtain to participate in a class action lawsuit or a class wide arbitration against any entity or individual involved with the sale of VIC;
- your acquisition of VIC not involve your purchase or receipt of shares, ownership or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;
- to the extent permitted by law and provided we act in good faith, the Company makes no warranty whatsoever, either expressed or implied, regarding the future success of VIC and/or the Ethereum Network;
- you accept that C20 is created and you obtain VIC on an “as is” and “under development” basis. Therefore, provided the Company acts in good faith, you accept that the Company is providing VIC without being able to provide any warranties in relation to VIC, including, but not limited to, title, merchantability or fitness for a particular purpose;
- you accept that you bear sole responsibility for determining if (i) the acquisition, the allocation, use or ownership of VIC (ii) the potential appreciation or depreciation in the value of VIC over time, if any, (iii) the sale and purchase of VIC; and/or (iv) any other action or transaction related to VIC has tax implications.