NFT Disclaimer
Prydo Identity NFTs & Pride NFT Collection — Important Information
1. Not a Security or Investment
1.1 General Disclaimer
Prydo NFTs — including Prydo Identity NFTs and Pride NFT Collection pieces — are digital collectibles and community membership tokens. They do not represent equity, debt, investment contracts, or securities of any kind.
1.2 No Profit Expectation
Purchasing a Prydo NFT should not be done with the primary expectation of profit. NFTs may increase or decrease in value. Past performance of other NFT collections is not indicative of future performance of Prydo NFTs.
1.3 Regulatory Uncertainty
The legal and regulatory status of NFTs varies by jurisdiction and continues to evolve. Prydo makes no representations regarding the legal classification of its NFTs in any specific jurisdiction.
2. Soulbound Identity NFTs (Prydo IDs)
2.1 Non-Transferable by Design
Prydo ID NFTs are Soulbound Tokens (SBTs). They are intentionally non-transferable. Once minted to a wallet address, they cannot be moved, sold, or delegated to another address.
2.2 Wallet Responsibility
Because Prydo IDs are permanently bound to a wallet, users are solely responsible for securing their wallet private keys. Loss of wallet access results in permanent loss of the associated Prydo ID. Prydo cannot recover, reissue, or transfer IDs under any circumstances.
2.3 No Resale Market
Soulbound NFTs cannot be listed on secondary markets. There is no resale value for Prydo IDs. The value of a Prydo ID is exclusively in the platform membership rights, governance privileges, and community access it represents.
2.4 Tier Benefits Subject to Change
The benefits associated with each Prydo ID tier are subject to modification by DAO governance vote. While Prydo will endeavor to maintain all stated benefits, the community retains the right to adjust platform mechanics.
3. Pride NFT Collection
3.1 Transferable Collectibles
Unlike Prydo IDs, Pride NFT Collection pieces are standard ERC-721 tokens that can be transferred and traded on secondary markets.
3.2 Artwork Rights
Owning a Pride NFT grants you ownership of the specific token as recorded on-chain. It does not transfer copyright to the underlying artwork. Prydo and the contributing artists retain intellectual property rights.
3.3 LGBTQ+ Community Fund
10% of primary sale proceeds and secondary royalties are allocated to the Prydo LGBTQ+ Community Fund. Distribution is governed by DAO vote. Prydo will publish annual transparency reports on fund usage.
3.4 Artist Collaboration
All Pride NFT artwork is created in collaboration with LGBTQ+ artists. Artists are compensated through primary sale splits as agreed individually.
4. Market & Financial Risks
4.1 Volatility
NFT markets are highly volatile. The value of any NFT, including Prydo NFTs, can fluctuate dramatically and may fall to zero. Only participate with funds you can afford to lose entirely.
4.2 Liquidity Risk
There is no guarantee that a liquid secondary market will exist for Prydo NFTs at any given time. You may be unable to sell NFTs when desired or at any price.
4.3 Smart Contract Risk
NFTs are governed by smart contracts which may contain bugs or vulnerabilities despite thorough auditing. In the event of a smart contract exploit, Prydo may be unable to recover or compensate for lost assets.
4.4 Gas Fees
Minting and transferring NFTs requires payment of blockchain gas fees. These fees are variable, not refundable, and are paid to the network, not to Prydo.
5. Technical Risks
5.1 Metadata & IPFS
NFT metadata and artwork are stored on IPFS and ICP Asset Canisters. Prydo cannot guarantee permanent availability if all hosting nodes go offline.
5.2 Network Outages
Blockchain networks may experience downtime, congestion, or forks. Prydo cannot control or be held liable for network-level interruptions affecting NFT transfers or platform access.
5.3 Wallet Compatibility
Prydo NFTs are compatible with standard EVM wallets and Internet Identity for ICP-based features. Prydo does not guarantee compatibility with all existing or future wallet software.
6. Regulatory Compliance
6.1 Geographic Restrictions
Prydo NFTs may not be available in all jurisdictions. You are responsible for ensuring your participation complies with local laws.
6.2 Tax Obligations
Minting, buying, selling, or receiving NFTs may be a taxable event in your jurisdiction. You are solely responsible for your tax obligations. Prydo does not provide tax advice.
6.3 AML/KYC
Prydo is committed to preventing money laundering and financial crime. In certain circumstances, Prydo may be required to implement AML or KYC procedures.
7. Community Standards
7.1 Inclusive Participation
Prydo is built on the values of inclusion, dignity, and respect for the LGBTQ+ community. Any use of Prydo NFTs to harass or harm LGBTQ+ individuals may result in revocation of platform access.
7.2 Content Standards
NFT holders using the Prydo social platform agree to abide by community content standards. Hate speech, discrimination, and illegal content are strictly prohibited.
8. Acknowledgment
By minting or purchasing a Prydo NFT, you acknowledge that: (a) you have read and understood this NFT Disclaimer; (b) you are aware of the risks involved; (c) you are participating voluntarily; (d) Prydo is not responsible for any financial losses; and (e) you meet all eligibility requirements in your jurisdiction.