TERMS OF USE FOR CREATORS
BY USING OUR SERVICE AS A CREATOR YOU AGREE TO THESE TERMS – PLEASE READ THEM CAREFULLY. YOU ARE NOT ALLOWED TO USE OUR SERVICE IF YOU DISAGREE WITH ANY OF THE TERMS IN THIS POLICY.
Introduction:These Terms of Use for Creators apply if you use our Service as a Creator (hereinafter referred to as "you" and "your" in these Terms of Use for Creators). These Terms of Use for Creators form part of your agreement with Presto Color Sdn Bhd (hereinafter referred to as the “Company”, "we", "our" and "us").
Interpretation: In these Terms of Use for Creators, defined terms have the same meanings as in Terms of Use for All Users. In addition:
a. “Creator Portal” means the website for Creator to fully set up their Channel including but not limited to uploading of logo, banner, video and setting up monetization tools. Creator can also access to their Channel’s performance report and Fans information in Creator Portal.
b. "Person with Majority Control" means any individual who meets one or both of the following conditions in relation to a corporate entity:
i. the individual holds, directly or indirectly, more than 50% of the shares in the corporate entity; and/or
ii. the individual holds, directly or indirectly, more than 50% of the voting rights in the corporate entity.
Other terms which will apply to your use of Colorverse: In addition to these Terms of Use for Creators, the following terms will also apply to your use of Colorverse and form part of your agreement with us, where the context may require:
a. Terms of Use for All Users - which contain all defined terms which apply if you use Colorverse as a User, whether a Creator or a Fan or both;
b. Terms of Use for Fans - which contain additional terms which apply if you use Colorverse not only as a Creator but also as a Fan;
c. Standard Contract between Fan and Creator - which does not form part of your agreement with us but applies to each Fan/Creator Transaction you enter into whether as a Fan or a Creator.
d. Privacy Policy - which tells you how we use your personal data and other information we collect about you
e. Acceptable Use Policy- which tells you what you can and can't do on Colorverse.
If there is any conflict between these Terms of Use and any of the terms or policies listed above, the Terms of Use will apply and prevail to the extent of the conflict.
To becoming a Creator and use Colorverse, you warrant that:
a. you must be at least 18 years old, and you will be required to confirm this;
b. if the laws of the country or state/province where you live provide that you can only be legally bound by a contract with us at an age which is higher than 18 years old, then you must be old enough to be legally bound by a contract with us under the laws of the country or State/province where you live;
c. you must provide such other information or verification records as we require;
d. you must not be barred from accessing Colorverse under any laws which apply to you;
e. if you previously had a User Account with Colorverse, you confirm that your old User Account was not terminated or suspended by us because you violated any of our terms or policies;
f. you will make sure that all information which you submit to us is truthful, accurate and complete;
g. you will update promptly any of your information you have submitted to us as and when it changes;
h. you will keep your account/login details/third-party crypto wallet confidential and secure, including your user details, passwords and any other piece of information that forms part of our security procedures, and you will not disclose these to anyone else. You will contact support@colorverse.social. promptly if you believe someone has used or is using your User Account without your permission or if your User Account has been subject to any other breach of security. You also agree to ensure that you log out of your User Account at the end of each session, and to be particularly careful when accessing your User Account from a public or shared computer so that others are not able to access, view or record your password or other personal information;
i. you are responsible for all activity on your User Account even if, contrary to the Terms of Use, someone else uses your User Account;
j. you will comply in full of these Terms of Use for Creators , our Acceptable Use Policy and all other parts of the Terms of Use for All Users which apply to your use of Colorverse;
k. you consent to receive electronic communications from us (e.g., via email, push notification, text messages, or other types of messages), and to the processing of your personal data as more fully detailed in our Privacy Policy. We may send you notices about your User Account (e.g., transactional information) and promotional communications that we think will be of interest to you;
l. you aware that when you use any Services regarding NFTs in Colorverse, you will need a blockchain address and a third-party crypto wallet to access the Service. By using your third-party crypto wallet in connection with the Service, you agree that you are using third-party crypto wallet under the terms and conditions of the applicable provider of third-party.
If you do not meet the above requirements, you must not access to Colorverse or use your User Account.
How to set up your account as a Creator Account?
a. To set up your account as a Creator Account:
i. You will need to go to <Profile> in Colorverse and click <Set Up My Channel> to start setting up your own channel.
ii. You will be required to fill in your Channel name when setting up your own channel.
iii. Once you have filled in your Channel name, you will get your Channel’s URL and officially become Colorverse’s Creator.
You will need to login to Creator Portal to completely set up your Channel. You can be directed to Creator Portal at the bottom of <My Channel> page.
b. To set up your Channel completely in Creator Portal:
i. Complete your personal details in <Account Settings - Profile>
ii. Fill in your bank account details of the bank account belongs to you in <Account Settings - Payout> and select the currency you want to accept your revenue at “Currency to Received”.
iii. Design your Channel by uploading your logo and banner in <My Channel>. You can also fill in the “About Me” description to introduce yourself to your Fans.
iv. Start adding Content to your Channel in <Content Manager – Content Library>, when you start adding Content to your Channel, Users will be able to view your Content and tip you or subscribe to your account to become your Fans if they like your Content.
v. Lastly, set up your monetization tools such as Virtual Gifting or Subscription to let your Fans support or tip you. If you want to charge your Fans a subscription fee, you will need to set your subscription period and price for your Fans .
Account Suspension and Termination: If you breach any of the provisions of these Terms, we will have the rights to suspend or terminate your User Account without prior notice.
a. We can but we are not obligated to moderate or review any of your User Generated Content to verify compliance with the Terms of Use (including, in particular, our Acceptable Use Policy ) and/or any applicable law.
b. It is our policy to suspend access to any User Generated Content you post on Colorverse which we become aware may not comply with the Terms of Use (including, in particular, our Acceptable Use Policy ) and/or any applicable law whilst we investigate the suspected non-compliance or unlawfulness of such User Generated Content. If we suspend access to any of your User Generated Content, you may request a review of our decision to suspend access to the relevant User Generated Content by contacting us at support@colorverse.social.. Following our investigation of the suspected non-compliance or unlawfulness of the relevant User Generated Content, we may take any action we consider appropriate, including to reinstate access to the User Generated Content or to permanently remove or disable access to the relevant User Generated Content without needing to obtain any consent from you and without giving you prior notice. You agree that you will at your own cost promptly provide us with all reasonable assistance (including by providing us with copies of any information which we request) in our investigation. We will not be responsible for any loss suffered by you arising from the suspension of access to your User Generated Content or any other steps which we take in good faith to investigate any suspected non-compliance or unlawfulness of your User Generated Content under this section.
c. If we suspend access to your User Account or terminate your agreement with us and your access to Colorverse, we will let you know via Email or WhatsApp, but we are not obligated to give you prior notice of such removal.
d. We reserve the right in our sole discretion to terminate your agreement with us and your access to Colorverse User Account for any reason immediately and without prior notice:
i. if we think that you have or may have seriously or repeatedly breached any part of the Terms of Use (including in particular our Acceptable Use Policy ), or if you attempt or threaten to breach any part of the Terms of Use in a way which has or could have serious consequences for us or another User; or
ii. if you take any action that in our opinion has caused or is reasonably likely to cause us to suffer a loss or that otherwise harms the reputation of Colorverse.
e. During any period when access to your User Account is suspended, any benefits received during the period of suspension will be suspended.
f. Upon permanent termination of your User Account, we may deal with your User Generated Content in any appropriate manner in accordance with our Privacy Policy (including by deleting it) and you will no longer be entitled to access your User Generated Content or account. All benefits obtained through the use of the Service will also lapse, for which the Company does not compensate.
g. We can investigate any suspected or alleged misuse, abuse, or unlawful use of Colorverse and cooperate with law enforcement agencies in such investigation.
h. We can disclose any information or records in our possession or control about your use of Colorverse to law enforcement agencies in connection with any law enforcement investigation of any suspected or alleged illegal activity, or in response to a court order.
i. Other than User Generated Content (which is owned by or licensed to Users), all rights in and to Colorverse and its entire contents, features, databases, source code and functionality, are owned by us and/or our licensors. Such material is protected by copyright, and may be protected by trademark, trade secret, and other intellectual property laws.
j. We are the sole and exclusive owners of any and all anonymised data relating to your use of Colorverse, and such anonymised data can be used by us for any purpose, including for commercial, development and research purposes.
Disclaimer: YOUR ACCESS TO AND USE OF THE SERVICE IS AT YOUR OWN RISK. YOU UNDERSTAND AND AGREE THAT WE WILL USE REASONABLE CARE AND SKILL IN PROVIDING COLORVERSE TO YOU (THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS) AND WE DO NOT MAKE ANY SPECIFIC COMMITMENTS OR WARRANTIES ABOUT THE SERVICE.
A. CREATOR’S CONTENT ON COLORVERSE DOES NOT REQUIRE OUR EXPRESS OR IMPLIED AUTHORISATION OR APPROVAL.
B. VIEWS EXPRESSED BY CREATORS ON COLORVERSE DO NOT NECESSARILY REPRESENT OUR VIEWS.
C. WE DO NOT GRANT YOU ANY RIGHTS IN RELATION TO ANY CREATOR’S CONTENT ON COLORVERSE. ANY SUCH RIGHTS MAY ONLY BE GRANTED TO YOU BY CREATORS.
D. YOUR CONTENT MAY BE VIEWED BY INDIVIDUALS THAT RECOGNISE YOUR IDENTITY. WE WILL NOT IN ANY WAY BE RESPONSIBLE TO YOU IF YOU ARE IDENTIFIED FROM YOUR CONTENT.
E. ALL CONTENT IS CREATED, SELECTED AND PROVIDED BY YOU AND NOT BY US. WE ARE NOT RESPONSIBLE FOR REVIEWING OR MODERATING CONTENT, AND WE DO NOT SELECT OR MODIFY THE CONTENT THAT IS STORED OR TRANSMITTED VIA COLORVERSE. WE ARE UNDER NO OBLIGATION TO MONITOR CONTENT OR TO DETECT BREACHES OF THE TERMS OF USE (INCLUDING THE ACCEPTABLE USE POLICY).
F. YOU AGREE THAT YOU HAVE NO OBLIGATION TO FOLLOW ANY SUGGESTIONS, COMMENTS, REVIEW, OR INSTRUCTIONS RECEIVED FROM ANOTHER USER OF COLORVERSE AND THAT IF YOU CHOOSE TO DO SO, YOU DO SO ENTIRELY AT YOUR OWN RISK.
G. WE MAKE NO PROMISES OR GUARANTEES OF ANY KIND THAT USERS WILL MAKE A PARTICULAR SUM OF MONEY (OR ANY MONEY) FROM THEIR USE OF COLORVERSE.
H. WE DO NOT PROMISE THAT COLORVERSE IS COMPATIBLE WITH ALL DEVICES AND OPERATING SYSTEMS. YOU ARE RESPONSIBLE FOR CONFIGURING YOUR INFORMATION TECHNOLOGY, DEVICE, AND COMPUTER PROGRAMS TO ACCESS COLORVERSE. YOU SHOULD USE YOUR OWN VIRUS PROTECTION SOFTWARE.
I. WE ARE NOT RESPONSIBLE FOR THE AVAILABILITY OF THE INTERNET, OR ANY ERRORS IN YOUR CONNECTIONS, DEVICE OR OTHER EQUIPMENT, OR SOFTWARE THAT MAY OCCUR IN RELATION TO YOUR USE OF COLORVERSE.
B. ALL USER GENERATED CONTENT IS CREATED, SELECTED AND PROVIDED BY USERS AND NOT BY US. WE ARE NOT RESPONSIBLE FOR REVIEWING OR MODERATING USER GENERATED CONTENT, AND WE DO NOT SELECT OR MODIFY THE USER GENERATED CONTENT THAT IS STORED OR TRANSMITTED VIA COLORVERSE. WE ARE UNDER NO OBLIGATION TO MONITOR USER GENERATED CONTENT OR TO DETECT BREACHES OF THE TERMS OF USE (INCLUDING THE ACCEPTABLE USE OF POLICY).
C. YOU ACKNOWLEDGE THAT ONCE YOUR CONTENT IS POSTED ON COLORVERSE, WE CANNOT CONTROL AND WILL NOT BE RESPONSIBLE TO YOU FOR THE USE WHICH OTHER USERS OR THIRD PARTIES MAKE OF SUCH CONTENT. YOU CAN DELETE YOUR USER ACCOUNT AT ANY TIME, BUT YOU ACKNOWLEDGE THAT DELETING YOUR USER ACCOUNT WILL NOT OF ITSELF PREVENT THE CIRCULATION OF ANY OF YOUR CONTENT WHICH MAY HAVE BEEN RECORDED BY OTHER USERS IN BREACH OF THE TERMS OF USE OR BY THIRD PARTIES PRIOR TO THE DELETION OF YOUR USER ACCOUNT.
D. YOU AGREE THAT YOU HAVE NO OBLIGATION TO FOLLOW ANY SUGGESTIONS, COMMENTS, REVIEW, OR INSTRUCTIONS RECEIVED FROM ANOTHER USER OF COLORVERSE AND THAT IF YOU CHOOSE TO DO SO, YOU DO SO ENTIRELY AT YOUR OWN RISK.
E. WE MAKE NO PROMISES OR GUARANTEES OF ANY KIND THAT USERS WILL MAKE A PARTICULAR SUM OF MONEY (OR ANY MONEY) FROM THEIR USE OF COLORVERSE.
F. WE WILL NOT BE LIABLE FOR ANY LOSS OF ANY KIND FROM ANY ACTION TAKEN OR TAKEN IN RELIANCE ON MATERIAL OR INFORMATION, CONTAINED ON THE SERVICE.
G. WE DO NOT PROMISE THAT COLORVERSE IS COMPATIBLE WITH ALL DEVICES AND OPERATING SYSTEMS. YOU ARE RESPONSIBLE FOR CONFIGURING YOUR INFORMATION TECHNOLOGY, DEVICE, AND COMPUTER PROGRAMS TO ACCESS COLORVERSE. YOU SHOULD USE YOUR OWN VIRUS PROTECTION SOFTWARE.
H. WHILE WE TRY TO MAKE SURE THAT COLORVERSE IS SECURE AND FREE FROM BUGS AND VIRUSES, WE CANNOT PROMISE THAT IT WILL BE AND HAVE NO CONTROL OVER THE CREATOR’S CONTENT.
I. WE ARE NOT RESPONSIBLE FOR ANY LOST, STOLEN OR COMPROMISED USER ACCOUNTS, PASSWORDS, EMAIL ACCOUNTS, OR ANY RESULTING UNAUTHORISED ACTIVITIES OR RESULTING AUTHORISED PAYMENTS OR WITHDRAWAL OF FUNDS.
J. THIRD-PARTY CRYPTO WALLET IS NOT OPERATED BY, MAINTAINED BY, OR AFFILIATED WITH COLORVERSE, AND WE DO NOT HAVE CUSTODY OR CONTROL OVER THE CONTENTS OF YOUR CRYPTO WALLET AND HAVE NO ABILITY TO RETRIEVE OR TRANSFER ITS CONTENTS.
WHILE WE ATTEMPTS TO MAKE YOUR ACCESS TO AND USE OF THE SERVICE SAFE, WE CANNOT AND DOES NOT REPRESENT OR WARRANT THAT THE SERVICE, USER GENERATED CONTENT, CREATOR’S CONTENT LINKED TO THIRD PARTIES OR ASSOCIATED WITH ANY NFTS, OR ANY NFTS YOU INTERACT WITH USING OUR SERVICE OR OUR SERVICE PROVIDERS’ SERVERS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. WE CANNOT GUARANTEE THE SECURITY OF ANY DATA THAT YOU DISCLOSE ONLINE.
Limitation of Liability: YOU ACKNOWLEDGE THAT THE SERVICE CONTENT SHALL BE USED AT YOUR OWN RISK AND RESPONSIBILITY.
ACCORDINGLY, WE WILL NOT BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSS AND TAKE NO RESPONSIBILITY FOR, AND WILL NOT BE LIABLE TO YOU FOR, ANY USE OF CONTENT, NFTS AND/OR CONTENT LINKED TO OTHER THIRD PARTIES OR ASSOCIATED WITH NFTS, INCLUDING BUT NOT LIMITED TO ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE AND CONSEQUENTIAL LOSSES, DAMAGES, OR CLAIMS ARISING FROM:A. USER ERROR;
B. ANY INTERRUPTION OR CESSATION OF THE SERVICE (E.G., SERVER FAILURE OR DATA LOSS);
C. ANY UNAUTHORIZED ACCESS TO OR USE OF THE SERVICE (INCLUDING UNAUTHORIZED ACTIVITIES AND UNAUTHORIZED WITHDRAWALS OF FUNDS);
D. ANY UNAUTHORIZED THIRD-PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION THE USE OF VIRUSES, PHISHING, BRUTEFORCING OR OTHER MEANS OF ATTACK AGAINST THE SERVICE OR NFTS;
E. ANY CONTENT WHETHER SUBMITTED BY A USER, INCLUDING YOUR USE OF CONTENT;
F. THE REMOVAL OR UNAVAILABILITY OF ANY CONTENT;
G. PERSONAL INJURY, DEATH OR PROPERTY DAMAGE RESULTING FROM YOUR USE OF THE SERVICE;
H. OTHER CREATORS OR THIRD PARTIES MAKE USE OF YOUR CONTENT THAT POSTED ON COLORVERSE.
Agencies cannot be Creators: Every Creator is the owner of their own Creator Account and must have access to their Creator Accounts at all times. If you have an agent or agency which assists you with the operation of your Creator Account (or operates it on your behalf), this does not affect your personal legal responsibility. Our relationship is with you, and not your agent or agency, and you will be legally responsible for ensuring that all Content posted, and all use of your Creator Account complies with the Terms of Use.
Creators who use Corporate Entities: If you intend to set up a Creator Account by using a corporate entity to receive your Creator Earnings, you are required to show that you are the Person with Majority Control of that corporate entity when you are setting up the Creator Account. We will only pay your Creator Earnings into a bank account not held in your name but where the bank account is held in the name of the corporate entity and you are the Person with Majority Control of that corporate entity. You agree that if you use a corporate entity to receive Creator Earnings you will comply with all laws (including Tax laws) which are applicable to corporate entities in the place where the corporate entity is established.
General: You agree that
a. if any aspect of your agreement with us is unenforceable, the rest will remain in effect;
b. if we fail to enforce any aspect of your agreement with us, it will not be a waiver;
c. we reserve all rights not expressly granted to you;
d. you cannot transfer your rights or obligations under your agreement with us without our prior written consent;
e. the Terms of Use for Creator (together with the terms and policies as set out under Section 3) form the entire agreement between us and you regarding your access to and use of Colorverse, and supersede any and all prior oral or written understandings or agreements between us and you.
Subscriptions and Purchases by Fans: This section describes the terms which apply to Fan/Creator Transaction:
a. All transactions and interactions facilitated by Colorverse are contracts between Fans and Creators on the terms of the Standard Contract between Fan and Creator ). Although we facilitate transactions and interactions between Fans and Creators y providing the Presto Color Sdn Bhd, storing Content, and acting as a payment intermediary, we are not a party to the Standard Contract between Fan and Creator ) or any other contract which may exist between a Fan and Creator, and are not responsible for any transactions or interactions between Fans and Creators.
b. Fan/Creator Transaction are exclusive of Tax, which shall be added at the current rate as applicable to Fan/Creator Transaction.
c. When a Fan has made the required payment for access to your Channel or Content, for the provision of customised Content or for use of the fan interaction function on your Creator Account, you must allow the Fan to view the Content paid for and/or provide the customised Content and/or allow the Fan to use the fan interaction function paid for (as applicable). You agree that you will indemnify us for any breach by you of this obligation (which means you will be responsible for any loss or damage (including loss of profit) we suffer as a result of you failing to comply with this obligation).
Content – General Terms: In addition to the terms set out elsewhere in the Terms of Use (in particular in our Acceptable Use Policy ), the following terms apply to the Content posted, displayed, uploaded or published by you as a Creator on Colorverse:
a. your Content is not confidential, and you authorize your Fans to access and view your Content on Colorverse for their own lawful and personal use, and in accordance with any licenses that you grant to your Fans;
b. you warrant (which means that you make a legally enforceable promise to us) that for each item of Content which you post, display, upload or publish on Colorverse:
i. the Content complies in full of the Terms of Use (and in particular our Acceptable Use Policy);
ii. you hold all rights necessary to license and deal in your Content on Colorverse, including in each territory where you have Fans and in Malaysia;
iii. you either own your Content (and all intellectual property rights in it) or have a valid license to offer and supply your Content to your Fans;
iv. if your Content includes or uses any third-party material, you have secured all rights, licenses, written consents and releases that are necessary for the use of such third-party property in your Content and for the subsequent use and exploitation of that Content on Colorverse;
v. the Content is:
1. of satisfactory quality, taking account of any description of the Content, the price, and all other relevant circumstances including any statement or representation which you make about the nature of the Content on your Creator Account or in any advertising;
2. reasonably suitable for any purpose which the Fan has made known to you is the purpose for which the Fan is using the Content; and
3. as described by you;
c. you agree that you will be liable to us and indemnify us if any of the warranties at Section 13(b) is untrue. This means you will be responsible for any loss or damage (including loss of profit) we suffer as a result of any of the warranties being untrue;
d. we are not responsible for and do not endorse any aspect of any Content posted by you or any other User of Colorverse. We do not have any obligation to monitor any Content and have no direct control over what your Content may comprise;
e. you also agree to act as custodian of records for the Content that you upload to Colorverse and we do not assume any responsibility to store or back up such Content.
Co-authored Content:
a. If you upload Content to your Channel which shows anyone else other than or in addition to you (even if that person cannot be identified from the Content) ("Co-Authored Content"), you warrant (which means you make a legally enforceable promise) that each individual shown in any Co-Authored Content uploaded to your Creator Account:
i. has given his or her express, prior and fully informed consent to his or her appearance in the Co-Authored Content;
ii. has consented to the Co-Authored Content in which he or she appears being posted on Colorverse; and
iii. has reached 18 years of age and is able to give such consent required under Section 14(a)(i) and (ii).
b. If any Co-Authored Content is a work of joint authorship, you are solely responsible for obtaining any required licenses or consents from any other joint authors of the Content which are sufficient to permit such Content to be uploaded to and made available on Colorverse. If any Co-Authored Content uploaded by you contains a person or persons who maintain Creator Account on Colorverse, you are advised to tag such persons’ User Account.
c. You agree that we will only pay out Creator Earnings to the account of the Creator to which the Co-Authored Content is uploaded. The Creator who uploaded the Co-Authored Content is solely responsible for dividing and distributing any revenue generated from the Co-Authored Content between the Creators shown in such Co-Authored Content. Any such revenue-sharing agreement shall be an independent, private agreement between Creators, and we are not responsible for providing or enforcing any such agreements. You understand and agree that you are not entitled to any Creator Earnings earned on any Co-Authored Content in which you appear, but which is posted on another Creator’s Account. If you post Co-Authored Content on your Creator Account, we may require you to provide valid and complete legal information for all individuals which appear in the Co-Authored Content. If you fail to provide any information requested by us upon our request, we may delete the Co-Authored Content, restrict your rights and permissions to post as a Creator, terminate your Creator Account, and/or withhold all or any portion of Creator Earnings earned but not yet paid out to you.
d. You agree to release us from and not to make any claims against us arising from Co-Authored Content. You agree that all claims arising from Co-Authored Content shall be made against the Creator(s) who posted Co-Authored Content or appeared in the Co-Authored Content (as applicable).
i. has given his or her express, prior and fully informed consent to his or her appearance in the Co-Authored Content;
ii. has consented to the Co-Authored Content in which he or she appears being posted on Colorverse; and
iii. has reached 18 years of age and is able to give such consent required under Section 14(a)(i) and (ii).
What are the fees that we charge Creators for the use of Colorverse?
a. Fan/Creator Transaction (Subscription, Pay-Per-View, Virtual Gifting, Tipping): We strive to provide, maintain and operate Colorverse for as long as we can afford to do so. For this purpose, we will charge you a fee equivalent to twenty per cent (20%) in respect of all Fan/Creator Transactions and/or payments your Fans made to you. Note that, this fee shall exclude any applicable taxes). The remaining sum of the Fan/Creator Transaction, less our fee and applicable taxes will be remitted to you as “Creator Earnings”, in accordance with Section 16 below.
b. NFT: As a Web3 SocialFi Community, Colorverse helps Creators who are interested to be involved in the SocialFi Community to create their own NFT collections. This is a personalised Service for Creators; hence, separate charges will apply for each Creator and different NFT project, subject to the Creator’s agreement with us.
Payouts to Creators:
a. In order to earn or receive payment of any revenues hereunder, Creator must at all times have an active Creator Account at Colorverse. we do not owe Creator for any revenues that may be associated with Creator’s Content during any period in which Creator do not have a valid method of payment.
b. All Fan/Creator Transactions will be received by third-party payment provider or crypto wallet who then in turn will collect the Fan/Creator Transactions and pay the Creator Earnings to the Creator, less our fees and applicable taxes as provided in Section 15.
c. Creator Earning as provided under Section 15 will be remitted to the bank account provided by the individual Creator in accordance with Section 5(b)(i) or corporate entity in accordance with Section 10 above, provided always that the bank account holder is consistent with the identity as registered under the ‘Account Settings’ of the Creator Portal.
d. Creator Earnings will be paid out in the following manner:
i. For Creator with bank account opened with banks or financial institutions in Malaysia – every Wednesday, without minimum payout amount;
ii. For Creator with bank account opened in foreign banks or financial institutions – the 10th working day of every month, with minimum payout amount of USD 200. If the Creator does not meet the minimum payout amount, the Creator Earnings will be brought forward to the next month until the minimum payout amount has been achieved. Your bank may charge you currency conversion or transfer fees to receive the Creator Earnings. On this note, we do not have control over currency exchange rates or charges imposed by your bank and we shall not be responsible for paying any charges imposed by your bank.
Note that, Creators are not required to submit any withdrawal of payment request to us. Notwithstanding the above, in the event such payment date falls on a day which is declared to be a public holiday in Malaysia or anywhere in which the relevant foreign financial institution situates, whether at national or state level, such payment will be remitted on the next business day. We do not guarantee the punctuality or timeliness of any financial institutions in handling the payment remittance process.
e. The amount that you see in your ‘Revenue Report’ in the Creator Portal is your Creator Earnings at the relevant time. All Fan/Creator Transactions and Creator Earnings in the report or Creator Portal are shown in MYR only.
f. If a Fan successfully seeks a refund or chargeback from their credit card provider in respect of a Fan/Creator Transactions, we may investigate and decide to deduct from your account an amount equal to the Creator Earnings earned by you on the charged-back or refunded amount.
Circumstances in which we may withhold Creator Earnings:
a. We may withhold all or any part of the Creator Earnings due to you but not yet paid out:
i. if we think that you have or may have seriously or repeatedly breached any part of the Terms of Use;
ii. if you attempt or threaten to breach any part of the Terms of Use in a way which we think has or could have serious consequences for us or another User (including actual or possible loss caused to us or another User); or
iii. if we suspect that all or any part of the Creator Earnings result from unlawful activity, either by you or by the Fan who made the Fan/Creator Transactions resulting in the Creator Earnings, for as long as is necessary to investigate the actual, threatened or suspected breach by you or the suspected unlawful activity (as applicable). If following our investigation, we conclude that:
1. you have seriously or repeatedly breached any part of the Terms of Use;
2. you have attempted or threatened to breach any part of the Terms of Use in a way which has or could have serious consequences for us or another User (including actual or possible loss caused to us or another User), and/or
3. the Creator Earnings result from unlawful activity, we may notify you that you we have forfeited your Creator Earnings.
b. We shall not have any responsibility to you if we withhold or forfeit any of your Creator Earnings where we have a right to do so under these Terms of Use for Creators.
c. If we are withholding all or any part of the Creator Earnings due to you and we determine that part of the Creator Earnings withheld by us is unrelated to breaches by you of the Terms of Use or suspected unlawful activity, then we may pay to you the part of the Creator Earnings which we determine to be unrelated to breaches by you of the Terms of Use or suspected unlawful activity. However, you agree that if we consider that your breach(es) of the Terms of Use has or may cause us loss, we may withhold all Creator Earnings due to you but not yet paid and we may set off such amounts against any losses suffered by us;
d. If after we have finished our investigation, we determine that Creator Earnings are forfeited, we will (unless prohibited by law) use our best efforts to return any Fan Payment which resulted in forfeited Creator Earnings to the relevant Fans who paid for such Fan/Creator Transactions.
Promoting Tax compliance:
a. General:
i. We recommend that all Creators seek professional advice to ensure you are compliant with your local Tax rules, based on your individual circumstances.
ii. By using Colorverse as a Creator, you warrant (which means you make a legally enforceable promise) that you have reported and will report in the future the receipt of all payments made to you in connection with your use of Colorverse to the relevant Tax authority in your jurisdiction, as required by law.
iii. By using Colorverse as a Creator you warrant (which means you make a legally enforceable promise) that you will at all times comply with all laws and regulations relating to Tax which apply to you. If, at any point whilst you have a User Account and/or Creator Account, any Tax non-compliance occurs in relation to you (including a failure by you to report earnings or the imposition on you of any penalty or interest relating to Tax) or if any litigation, enquiry, or investigation is commenced against you that is in connection with, or which may lead to, any occurrence of Tax non-compliance, you agree that you will:
1. notify us by email to support@colorverse.social in writing within seven (7) days of the occurrence of the Tax non-compliance or the commencement of the litigation, enquiry or investigation (as applicable); and
2. promptly provide us by email to support@colorverse.social with:
a. details of the steps which you are taking to address the occurrence of the Tax non-compliance and to prevent the same from happening again, together with any mitigating factors that you consider relevant; and
b. such other information in relation to the occurrence of the Tax non-compliance as we may reasonably require.
iv. For the avoidance of doubt, you are responsible for your own Tax affairs and Colorverse is not responsible or liable for any non-payment of Tax by Creators.
v. We reserve the right to close your Colorverse User Account and/or Creator Account if we are notified of or become aware of any Tax non-compliance by you.
vi. You agree that you will keep copies of all tax invoices and returns in connection with your Creator Earnings from Colorverse and you will provide us with copies of such documents within fourteen (14) days of our written request that you do so. For the avoidance of doubt, it is your obligation to comply with all provisions relating to the tax legislations in Malaysia and/or the country in which it has jurisdiction over you and make, give, obtain, maintain and keep accurate, complete and up-to-date records, invoices, accounts and other documents required for the purposes of such tax legislations.
b. For Creators who have registered Malaysia tax account:
i. such Creators will be treated as providing their services to Colorverse, rather than to Fans directly;
ii. incidentally, for computing tax purposes, such Creators will be treated as charging us Creators Earnings (80% of all and any Fan/Creator Transactions), together with Malaysia Tax at the prevailing rate in force at the time of the Fan/Creator Transactions.
c. For foreign Creators or Creators who do not have a registered Malaysia tax account:
i. you are responsible for your own tax affairs in relation to your conduct and activities on Colorverse, including all funds received or paid in respect of any and all Fan/Creator Transaction. We shall not be responsible for advising you on your tax affairs and will not be liable in respect of any general information provided on Colorverse or by support@colorverse.social. in respect of tax; and
ii. we will not be liable for any non-payment of tax by Creators.
Promotion usage Colorverse may make promotional offers or competitions reward (collectively referred to as the “Promotional Offers”), which may include different features and different rates in its sole discretion, to any Creators. Such Promotional Offers are subject to these Terms of Use for Creators and are only valid as indicated in the offer or reward. A Creator must have a valid Colorverse User Account with a valid form of accepted payment on file to take advantage of promotional offers or competition rewards. Only one Creator Account for each Creator can be used to participate in per offer or competition.
a. To participate in the Promotional Offers, you agree that:
i. the Promotional Offers may only be used by the intended Creators, for the intended purpose, and in a lawful manner;
ii. the Promotional Offers cannot be redeemed for cash or cash equivalent;
iii. the Promotional Offers cannot be duplicated, sold or transferred in any manner, or made available to the general public, unless expressly permitted by Colorverse;
iv. the Promotional Offers are subject to the specific terms that Colorverse establishes for such Promotional Offers;
v. the Promotional Offers may only be applied if all qualifying conditions are met; and
vi. the Promotional Offers are not valid for use after the date indicated in the relevant Promotional Offers.
b. For Promotional Offers that are made available only to new Creators, certain Creators will not be entitled to receive the offer or reward if we have a record of their name, email, phone number or device having been used for a prior Promotional Offer or being linked to an existing active or inactive Colorverse User Account. Promotional Offers cannot be applied retroactively for prior participation and cannot be combined unless otherwise indicated.
c. You understand that it shall be our sole and absolute discretion to change the terms and conditions of the Promotional Offers and/or terminate, expire, withhold, deduct, limit or modify an offer or reward at any time for any reason.
d. We reserve the right to withhold or deduct credits, benefits or rewards obtained through a promotion at any time for any reason.
e. If we determine or believe that the redemption of the promotion or competition of the credit, benefit or reward was in error, fraudulent, illegal, or in violation of the applicable promotion or competition terms or these Terms of Use for Creators. We reserve the right to modify or cancel an offer or reward at any time. The offer or reward redeeming Creator is responsible for paying any applicable sales tax related to the use of an offer or reward.
f. We shall not be liable for any financial loss arising out of the refusal, cancellation or withdrawal of any Promotional Offer or any failure or inability of a Creator to take advantage of a Promotional Offer for any reason.
Last Update on 15 August 2022