What are the risks associated with buying and selling NFTs? [136]

Risks to buyers and collectors

  1. Blockchain transactions are irreversible - No refunds or chargebacks
  2. Buyers and collectors must be vigilant with their wallet's Key management - Loss of your private key may lead to loss of your wallet's contents (unrecoverable)
  3. Forgeries - Always buy from a verified seller

Risks to seller and NFT creators

  1. NFT data that is stored on the blockchain cannot be changed
  2. Sales on third party platforms may not respect royalties

Disclaimer

  1. The prices of NFTs are extremely volatile. Fluctuations in the price of other digital assets could materially and adversely affect the value of an NFT. We cannot guarantee that any purchasers of NFTs will not lose money.
  2. You are solely responsible for determining what, if any, taxes apply to your NFT transactions. NFT.Kred is not responsible for determining the taxes that apply to your NFT transactions.
  3. NFT.Kred does not store, send, or receive NFTs. NFTs exist only by virtue of the ownership record maintained on its supporting blockchain. Any transfer of NFTs occurs within the supporting blockchain and not on NFT.Kred.
  4. There are risks associated with using Internet based digital assets (NFTs), including but not limited to, the risk of hardware, software and Internet connections, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to information stored within your wallet (for example, your Private Key). You accept and acknowledge that OpenSea will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Crypto Assets, however caused.
  5. A lack of use or public interest in the creation and development of distributed ecosystems could negatively impact the development of those ecosystems and related applications, and could therefore also negatively impact the potential utility or value of Crypto Assets.
  6. The regulatory regime governing blockchain technologies, cryptocurrencies, and tokens is uncertain, and new regulations or policies may materially adversely affect the development of the Auction and/or Service and the utility of Crypto Assets.
  7. The Service will rely on third-party platforms such as MetaMask to perform the transactions for the Auction of Crypto Assets. If we are unable to maintain a good relationship with such platform providers; if the terms and conditions or pricing of such platform providers change; if we violate or cannot comply with the terms and conditions of such platforms; or if any of such platforms loses market share or falls out of favor or is unavailable for a prolonged period of time, access to and use of the Service will suffer.
  8. There are risks associated with purchasing user generated content, including but not limited to, the risk of purchasing counterfeit assets, mislabeled assets, assets that are vulnerable to metadata decay, assets on smart contracts with bugs, and assets that may become untransferable. OpenSea reserves the right to hide collections, contracts, and assets affected by any of these issues or by other issues. Assets you purchase may become inaccessible on OpenSea. Under no circumstances shall the inability to view your assets on OpenSea serve as grounds for a claim against OpenSea.