Utility and a Digital Asset
The ZED token will be a utility and a digital asset. The ZED token will also play a key role in ZED token enabled ecosystems, such as ZED RUN, by functioning as the incentive which will be distributed to encourage participants to contribute and maintain the video game ecosystem. Given that additional ZED tokens will be awarded to users, based only on their actual usage, activity and contribution towards ZED token enabled ecosystems, participants and/or holders of ZED token which did not actively participate will not be entitled to receive any ZED token incentives.
For the avoidance of doubt, the community of ZED token holders does not have any legal control over any matters relating to ZED token enabled ecosystems, the Foundation, ZED RUN, (or any affiliates) or any of its assets, or any of its Group Entities (including without limitation the selection of governing board of the relevant company, over corporate matters, development direction, specific projects, or deployment of that company’s assets, which shall be the final responsibility of the governing board of the relevant company).
The ZED token will not have any functionality or utility outside ZED token enabled ecosystems. To the extent a secondary market or exchange for trading the ZED token does develop, it will be run and operated wholly independently of the game creator(s).
Please note that we do not expect the ZED token to have any monetary value at the time the token is launched, and claimed by ZED RUN community members.
The ZED token is not a security or investment product. Digital assets are highly volatile, and their value can go down, and effectively be worthless. There are risks associated with acquiring, holding and using any cryptocurrency, including regulatory risk, where a digital asset is deemed a security, the blockchain hosting the token fails, the token is not widely adopted and may have limited users, the related business may cease operation which may affect the use of the ZED token, token transactions are generally irrevocable, hackers may attempt to compromise token security, other risks also apply.
1. GENERAL NOTICE
ZED tokens (“$ZED”, “ZED” or the “tokens”) (or such other project name and/or ticker code used by the token issuer from time to time) are not being offered or distributed to any resident of or any person located or domiciled where such offering is prohibited, restricted or unauthorized in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdictions. This document is not a prospectus, and it is not an offer of securities. The tokens are not an investment, not a financial product, and not a managed investment scheme. The token issuer does not offer the token for sale to the public.
2. NO WARRANTY
The tokens are distributed “as is” and “as available”. The party receiving tokens directly from the token issuer is described as the Acquirer. The token issuer makes no warranty of any kind, implied, express or statutory, including any warranties of merchantability, satisfactory quality, fitness for a particular purpose and freedom from computer virus or other malicious, destructive or corrupting code, agent, program or macros, in relation to the tokens, the right, this agreement or any information and materials provided to the purchaser. except as expressly set forth herein, the Acquirer of the token understands and expressly accepts that it has not relied upon any representation or warranty, whether through oral, written or electronic communication, made by the token issuer, or any other person on the token issuer’s behalf.
3. LIMITATION OF LIABILITY
The token issuer shall in no event be liable, even if the token issuer has been advised of the possibility of such damages, losses or expenses, for any damages, loss or expense, including direct, indirect, special, or consequential damage, or economic loss, arising from or in connection with:
(i) the tokens;
(ii) any system, server or connection failure, error, omission, interruption, delay in transmission, computer virus or other malicious, destructive or corrupting code, agent program or macros; or
(iii) any images, services, products, information, data or other material made available by the company.
Without prejudice to the generality of the foregoing and covenants provided in this agreement, the party receiving the Token directly from the token issuer (Acquirer) will not hold the token issuer or its related entities and their officers, employees or agents responsible or liable, in contract, tort (including ordinary negligence or breach of statutory duty), equity or otherwise, for any damages, losses, expenses or costs (whether direct or indirect, or whether foreseeable or not) suffered or incurred by the Acquirer arising out of or in connection with:
(i) the purchase or the use of the Tokens by the Acquirer or other third party; or
(ii) the Acquirer’s exercise of the right.
The Acquirer understands that the Acquirer has no right against the token issuer or any other person. The token issuer’s aggregate liability arising out of or related to the Acquirer obtaining tokens from the company, whether arising out of or related to breach of contract, tort or otherwise, shall not exceed the purchase amount paid to the token issuer pursuant to any purchase arrangement. Neither the token issuer nor its representatives shall be liable for consequential, indirect, incidental, special, exemplary, punitive or enhanced damages, lost profits or revenues or diminution in value, arising out of or relating to the Acquirer acquiring the Tokens.
A failure, delay, or error by a party which prevents that party from complying with any of its obligations under this arrangement will not be considered a breach of this arrangement if the failure, delay or error is directly caused by an event beyond reasonable control of such party (“force majeure”), including but not limited to, floods, typhoons, earthquakes, wars or hostilities, acts or threats of terrorism, hacking or attempts at hacking, riots, social unrest, protests, strikes, loss of power, epidemics / pandemics, embargoes, fires, other acts of god, nuclear disaster, damage to communication facilities, damage to web hosts, or network failures from internet service providers. the party affected by force majeure shall notify the other party of such event within fifteen (15) days of the force majeure event. subject to the party asserting force majeure notifying the other party in writing of the cause and its estimate of the likely duration of the delay as soon as practicable, the performance of the obligations of the party affected by force majeure under this agreement, to the extent affected by the delay, shall be suspended during the period that the cause persists. However, the performance of the obligations of the party affected by force majeure under this agreement shall be resumed from the date of the cessation of force majeure or the elimination of the event’s effects.