NFTs Terms and Conditions

1. Application Of These Terms

   
   

   These NFTs Terms and Conditions (Terms) and all policies posted on our website set out the terms on which you acquire our non-fungible tokens (NFTs). All policies are incorporated into these Terms. You agree to comply with the above and all matters as set out in these Terms when purchasing our NFTs.

   For information regarding the processing of personal data, please see our Privacy Notice here - https://undra.game/privacy. These Terms and our Privacy Notice are the entire agreement between you and us.

   These Terms, including the Licence in Schedule 1, our terms of business and our Privacy Notice are the entire agreement between you and us. Where there is a conflict between these documents, these Terms will prevail.

   Please read these terms carefully. These Terms tell you who we are, how you can purchase our NFTs, set out your rights and responsibilities when you acquire our NFTs, what to do if there is a problem and other important information.

   These Terms are not a solicitation for investment and do not pertain in any way to an offering of securities in any jurisdiction.

   Given the permanent nature of the transfer of an NFT, we are not able to offer full consumer cancellation rights. Please ensure you are comfortable with this before proceeding.

2. Who Are We And How You Accept These Terms

   
   

   We are Half Decent Limited, a company registered in England and Wales with company number 13697629 whose registered address is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, Somerset, United Kingdom, TA1 2PX (we/us/our).

   In order to purchase our NFTs, you must accept these Terms and agree to be bound by the Licence in Schedule 1.

   
   

   IF YOU DO NOT AGREE TO THESE TERMS, DO NOT PURCHASE OUR NFTS. YOU SHOULD CAREFULLY CONSIDER THESE TERMS AND TAKE INDEPENDENT LEGAL ADVICE BEFORE ACCEPTING THESE TERMS. BY PURCHASING NFTS, YOU ACCEPT THESE TERMS AND WILL BE LEGALLY BOUND BY THEM.

   
   

   Please note that we can change these Terms in our sole discretion and at any time. We do this in accordance with Section 14 below.

   
   

3. Undra NFTs

   
   

   Our NFTs are built on the Ethereum network ERC-1155 token standard upon using specially developed smart contracts (Undra NFTs). We are currently selling 8000 of Undra NFTs (Founder’s Sale), which can be purchased through our website. Each NFT is also associated with metadata consisting of text, images and/or video (the Art). Ownership of the NFT also constitutes ownership of the metadata.

   You also need to have an Ethereum wallet that supports the ERC-1155 token standard to purchase Undra NFTs (Wallet).

   BY PURCHASING UNDRA NFTS, YOU UNDERSTAND AND AGREE THAT UNDRA NFTS DO NOT GIVE YOU ANY RIGHT, TITLE, INTEREST, DIVIDEND, DISTRIBUTION, BENEFIT, CONTROL OR OWNERSHIP OF HALF DECENT LIMITED, THE UNDRA GAME, OR ANY OTHER RELATED PROPERTIES.

   THE PRICE OF UNDRA NFTS CAN BE HIGHLY VOLATILE AND PRESENTS A HIGH RISK OF LOSSES. DO NOT PURCHASE UNDRA NFTS IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS, NFTS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS.

4. Undra NFTs Price

   
   

   The base price of 1 Undra NFT is as follows:

   
   

   • Pack A - 2 Common-Rare NFTs - 0.02 ETH each

     
     

   • Pack B - 2 Common-Epic NFTs - 0.1 ETH each

     
     

   • Pack C – 2 Rare-Legendary NFTs, 0.2 ETH each a Price and together the Prices.‌

     We reserve the right to change, modify or increase the Price at any time before purchase. It is your responsibility to monitor any changes made to the Price, which will be displayed in full before purchase.

5. Additional Fees

   
   

   Undra NFTs are run on the Ethereum network. Ethereum requires the payment of a transaction fee (Gas Fees) for every transaction that occurs on the Ethereum network. You are solely responsible to check the Gas Fees and any other additional fees associated with the purchase of Undra NFTs (for instance, marketplace’ fees) and ensure your Wallet has sufficient funds to cover those fees.

6. Founders Sale

   
   

   The Founders Sale will take place as follows:

   
   

   1. Register. You will register for an Undra account on our website which will store the email and password you use on set-up.

      
      

   2. Reserve your packs. You will then be able to view the Prices and reserve as many of each pack as you want. You will then be required to connect your Wallet. You acknowledge that this is the only Wallet that will be able to pay for the packs, and understand that this Wallet will receive

      the Undra NFTs. You will be charged an additional 0.007Eth shipping fee for every pack. The packs are categorised as follows:

      
      

      1. Miner’s pack – 2 cards – Guaranteed 2 uncommons. Low chance of Rare. 0.02 ETH + 0.007ETH shipping.

         
         

      2. Explorer’s pack - 2 cards - Guaranteed 1 uncommon, 1 rare. Medium chance of more rare, epic, or legendary. 0.1ETH + 0.007ETH shipping.

         
         

      3. Overseer’s pack - 2 cards - Guaranteed 1 epic. Medium chance of Legendary. 0.2ETH

         + 0.007ETH shipping.

         
         

   3. We will allocate a portion of your reservation based on demand. In agreeing to these terms, you understand that you MAY NOT receive your full reservation. This means that during a high demand period, each buyer is allocated a smaller portion of their reservation. You will be presented with a final Price for your packs and any associated shipping costs. You must pay these fees within 24 hours. Where payment is not made for these packs, the packs will be released to another buyer, and your purchase will be cancelled. After this point, you cannot change your allocation and will be committed to purchasing the Undra NFTs. It is your responsibility to confirm that the Undra NFTs purchase details are accurate and complete.

      
      

   4. Shipping will commence 48 hours after the payment window has opened, (this is 24 hours for first round payments, followed by a further 24 hours, during which time those packs that have been reserved but not paid for shall be re-allocated to other buyers).

      
      

   5. At this time, your packs will be visible on our website and you will be able to “open” them to view the content. Once opened, your individual Undra NFTs will be shipped to your Wallet within 72 hours.

   
   

   ALL PURCHASES OF UNDRA NFTS ARE FINAL, NON-CANCELLABLE AND NON-REFUNDABLE

   except in very limited circumstances. See Termination for further details.

   
   

7. Your Eligibility

   
   

   To purchase Undra NFTs, you must meet the following criteria:

   
   

   • You are a natural person and you are at least 18 years old;

     
     

   • You are not a citizen, resident or a green card holder nor a representative of a person who is from the United States of America;

   • You have sufficient knowledge of digital currencies, cryptographic tokens, NFTs, blockchain technology and a comprehensive understanding of applied cryptography; and

   • You are legally permitted to purchase Undra NFTs.

     
     

8. Conditions To Purchase Undra NFTs

   
   

   To purchase Undra NFTs, you agree that:

   • You will provide accurate, current and complete information about yourself, and promptly update, as necessary, your information;

   • You will authorise us to make inquiries directly or through third parties which we may consider necessary to verify your identity and to protect against fraud, terrorism financing or money- laundering (KYC and AML checks). Your ability to receive the Undra NFTs is subject to you successfully passing any KYC and AML checks;

   • You will be bound by the terms of the Licence in Schedule 1;

     
     

   • You accept all risks associated with purchasing, storing, transferring and managing Undra NFTs;

     
     

   • You accept that we reserve the right to refuse any requests to purchase or redeem Undra NFTs in our sole discretion;

   • You will create a strong password for your Wallet and you will not let any other person access it;

   • You are solely responsible for maintaining the security of your Wallet and purchased Undra NFTs, including any requisite private key(s) or other credentials necessary to access Undra NFTs;

   • You will not hold us responsible for managing and maintaining the security of your Wallet and purchased Undra NFTs or hold us responsible for any unauthorised access or use of your Wallet or purchased Undra NFTs;

   • You will notify us immediately if you identify or suspect any unauthorised access to your Wallet or purchased Undra NFTs by emailing legal@undra.game; and

   • You will waive any right you may have to participate in a class action lawsuit or a class wide arbitration against us.

9. Prohibited Purpose

   
   

   It is prohibited to purchase Undra NFTs for any of these purposes (Prohibited Purpose):

   
   

   • To conduct or engage in any illegal activity;

     
     

   • To hide or disguise the proceeds of any illegal activity.

     
     

   • TO ENGAGE IN SPECULATIVE INVESTMENT;

     
     

   • To infringe our intellectual property rights or intellectual property rights of any other person;

     
     

   • To modify the Art or incorporate it into any new NFT;

     
     

   • To wrap our NFT or any associated smart contract and re-sell on a different blockchain, or otherwise attempt to circumvent or avoid the original secondary sale royalties associated with the Undra NFTs;

   • To engage in any deceptive, fraudulent or malicious activity, including by launching malware or viruses, or seeking to hack into any Wallets or steal Undra NFTs;

   • To reverse-engineer, decompile, disable, or disassemble Undra NFTs or our website; or

     
     

   • To engage in any other use or activity which breaches these Terms.

     
     

10. Termination

    
    

    We can terminate these Terms at any time if:

    
    

    • You breach these Terms;

      
      

    • You purchase Undra NFTs for any Prohibited Purpose.

      
      

      Where we terminate these Terms for any of the above reasons, we are not under any obligation to provide a refund. Termination of these Terms shall not affect any of our accrued rights and liabilities at any time up to the date of termination.

      
      

11. Your Rights to Cancel

    
    

    Due to the nature of NFTs, any transaction made to you is permanently recorded. However, we can provide a refund provided that:

    • You notify us of your intention to cancel the contract within 14 days of purchase of the Undra NFTs;

    • The Undra NFT(s) is/are transferred back to us within 14 days;

      
      

    • You permanently delete any information associated with the Undra NFTs (including the Art) and certify to us in writing that you have done so.

      Where you exercise this right, obligations in this contract regarding the Prohibited Purpose Intellectual Property Rights will continue to apply to you and this does not affect any of our rights to pursue a claim under these Term. This right to cancel shall not apply (and you shall waive this right) where:

    • You have used the Undra NFTs for any Prohibited Purpose;

      
      

    • You have already opened your packs and revealed your Undra NFTs

      
      

    • You have used the Art in the Undra NFTs for General or Commercial use under the Licence in the Schedule to these Terms; or

    • You have not complied with the Licence in the Schedule to these Terms.

      
      

12. Taxes

    
    

    It is your sole responsibility to determine whether, and to what extent, any taxes apply to purchases of Undra NFTs, and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities.

    
    

    To the extent possible under the applicable law, you agree not to hold us and our subsidiaries, affiliates, officers, agents, employees, advertisers, licensors, suppliers or partners liable for any tax liability associated with or arising from the purchase of Undra NFTs. You shall pay to us as a debt on demand

    all costs incurred by us, including but not limited to tax, penalties and interest, levied by any competent tax authority due to your failure to pay any such taxes, penalties or interest.

13. Intellectual Property Rights

    
    

    We own all intellectual property rights in Undra NFTs. By purchasing Undra NFTs, you will not infringe any intellectual property rights that:

    • Belong to third parties affected by your purchase of Undra NFTs; and

      
      

    • Belong to or are licensed to us. Some, but not all, actions that may be infringement are reproducing, performing, displaying, distributing, copying, reverse engineering, decompiling, disassembling, or preparing derivative works from content that belongs to us or any third party.

      You agree to indemnify us in full against all liabilities, costs, expenses, damages and losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses) suffered or incurred by us arising out of, or in connection with, your infringement of our or any third-party intellectual property rights.

      
      

14. Acceptance Of The Risk

    
    

    You accept each of the following risks:

    
    

    • To the fullest extent possible pursuant to applicable laws, we make no additional warranties regarding to purchase of Undra NFTs. This does not affect your consumer rights with regards to satisfactory quality and the Undra NFTs will be fit for the purposes as described under section 3 (Undra NFTs);

    • A private key, or a combination of private keys, is necessary to purchase, control and dispose of Undra NFTs stored in your Wallet. Accordingly, loss of requisite private key(s) associated with your Wallet will result in loss of purchased Undra NFTs. Any errors or malfunctions caused by or otherwise related to the Wallet, including your own failure to properly maintain or use such Wallet, may also result in the loss of your Undra NFTs or risk that third parties may obtain unauthorised access to your Wallet and Undra NFTs;

    • Your failure to follow the procedures set in these Terms to purchase Undra NFTs, including if you provide inaccurate information or digital wallet that is not ERC-1155 compatible, may result in the loss of purchased Undra NFTs;

    • There are risks associated with using the Ethereum network. You accept and acknowledge that we will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Ethereum network;

    • Upgrades by Ethereum to the Ethereum network, supporting digital wallets, a hard fork, soft fork and other operational rules may have unintended, adverse effects on all blockchains using the standards as ERC-1155 or other bespoke smart contracts, including Undra NFTs and we are not responsible for any of such upgrades;

    • Purchase of Undra NFTs could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit our ability to continue to develop, or which could impede or limit your ability to access or purchase Undra NFTs;

    • Cryptography is a progressing field. Advances in code cracking or technical advances such as the development of quantum computers may present risks to digital currencies and purchase Undra NFTs, which could result in the theft or loss of Undra NFTs;

    • Any use or purchase of Undra NFTs requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks, including those listed above. You represent and warrant that you possess relevant knowledge and skills;

    • Sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to or delays to purchase of Undra NFTs. You are aware of and accept the risk of operational challenges and failure resulting from unanticipated or heightened technical difficulties;

    • If secondary trading of Undra NFTs is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation and you accept those risks;

    • Because Undra NFTs confer no governance rights of any kind with respect to our website or Half Decent Limited, all decisions involving Undra NFTs or our website will be made in our sole discretion. These decisions could adversely affect Undra NFTs; and

    • Undra NFTs are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by us, to offer recourse to you.

      WE ARE NOT AUTHORISED OR REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. WE DO NOT PROVIDE ANY PROFESSIONAL ADVICE ON WHICH YOU SHOULD RELY. YOU ACCEPT ALL RISKS ASSOCIATED WITH UNDRA NFTS AND WILL SEEK YOUR OWN PROFESSIONAL ADVICE BEFORE PURCHASING UNDRA NFTS.

      
      

15. Changes To These Terms

    
    

    We may make amendments which do not affect your rights to these Terms at any time. If we amend these Terms, we will publish the updated terms on our website.

    
    

    You shall be responsible for reviewing and becoming familiar with any such modifications. You waive any right you may have to receive specific notice of such changes or modifications.

    
    

    Where we make changes that affect your rights and you have provided us with your email address, we will notify you about the changes.

    
    

16. Third Party Sites

    
    

    We neither own nor control the Ethereum network or any other third party site (such as OpenSea marketplace, (www.opensea.io)), product, or service that you might access, visit, or use for the purpose

    of acquiring Undra NFTs (Third Party Site). You understand and agree that your use of any Third Party Site is subject to any terms of use or privacy policy provided by such Third Party Site. We are not a party to any such agreement. You should review any terms of use and privacy policy provided by such Third Party Site and make whatever investigation you feel necessary with any transaction with any third party.

    
    

    We will not be responsible for the acts or omissions of any Third Party Sites, nor will we be responsible for any damage that you may suffer as a result of your transactions or any other interaction with any Third Party Sites.

    
    

17. Privacy

    
    

    We are the data controller for your information and we have specific obligations to you under data protection laws. You can find out more about what information we use, what we use it for and who we share it with in our Privacy Notice, which can be located at https://undra.game/privacy . Our Privacy Notice also contains details about your legal rights in relation to your information (but your legal rights will vary depending on where you are located).

18. Indemnity

    
    

    You agree to indemnify, defend and hold harmless us and our subsidiaries, affiliates, officers, agents, employees, advertisers, licensors, suppliers or partners from and against any claim, liability, loss, damage (actual and consequential) of any kind or nature, suit, judgment, litigation cost, and lawyers’ fees arising out of or in any way related to (i) your breach of these Terms, (ii) your misuse or unauthorised purchase of Undra NFTs, (iii) your violation of applicable laws, rules, regulations or the rights of any third party and (iv) any of your acts or omissions that implicate publicity rights, defamation or invasion of privacy in connection with your purchase of Undra NFTs.

    
    

19. Liability

    
    

    We (including our parent, subsidiaries, affiliates, directors, agents and employees) shall not be liable to you in contract, tort (including negligence) or otherwise for any business losses, such as loss of data, profits, revenue, business, opportunity, goodwill, reputation or business interruption or for any losses which are not reasonably foreseeable by us arising, directly or indirectly from:

    • Your use of or your inability to use or purchase Undra NFTs, (other than as set out in section 11 (Your Rights to Cancel);

    • Your use of or your inability to use any Third Party Sites (including OpenSea marketplace);

      
      

    • Your use of smart contracts and Ethereum network;

      
      

    • Your breach of any law or regulation now or in the future relating to the purchase, custody, redemption or sale of Undra NFTs;

    • Delays or disruptions in purchasing Undra NFTs caused by your internet connection;

      
      

    • Viruses or other malicious software obtained by purchasing Undra NFTs;

      
      

    • Glitches, bugs, errors, or inaccuracies of any kind in Undra NFTs and our website;

    • Damage to your hardware device from the purchase of Undra NFTs;

      
      

    • Loss of any ETH or Undra NFTs that were under our control at the time of loss;

      
      

    • Unauthorised access or activities by third parties, including but not limited to the phishing or use of other means to attack Undra NFTs or your Wallet; and

    • Your need to modify practices, content, or behaviour or your loss of or inability to do business, as a result of changes to these Terms or our policies.

      Some jurisdictions do not allow the disclaimer of warranties or exclusion of damages, so such disclaimers and exclusions may not apply to you.

      
      

      Regardless of the previous paragraphs, if we are found to be liable, our liability to you or to any third party is limited to the amount of fees in dispute not to exceed the Price which you paid to us for Undra NFTs.

      
      

      Nothing in these Terms shall limit or exclude our liability for fraudulent misrepresentation, for death or personal injury resulting from our negligence or the negligence of our agents or employees, or for any other liability that cannot be limited or excluded by law.

20. Compensation

    
    

    You will compensate us in full for any losses or costs, including reasonable legal fees, we incur arising out of your breach of these Terms, your unauthorised purchase of Undra NFTs or your breach of any law or the rights of a third party.

21. Contact Details

    
    

    Any questions, complaints or claims with respect to purchase of Undra NFTs or these Terms can be made by contacting us at legal@undra.game.

    
    

22. General

No partnership or agency: Nothing in these Terms constitutes, or will be deemed to constitute, a partnership between the parties nor make any party the agent of another party.

Assignment: We may assign our rights and obligations under these Terms (but without your prior express consent), provided that we assign these Terms on the same terms or terms that are no less advantageous to you. You must not assign your rights and obligations under these Terms.

Events outside control: Neither party will have any liability under or be deemed to be in breach of these Terms for any delays or failures in performance of these Terms which result from circumstances beyond its reasonable control.

Waiver: Any right or remedy granted to us for breach of these Terms will be in addition to all other rights and remedies available to us. If we fail or delay to exercise any right or remedy, or only exercise the same in part, this does not mean that it waives such right or remedy in full in the future.

Severance: If a court finds part of this contract illegal, the rest will continue in force. Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

Third party rights: A person who is not a party to these Terms shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any of the provisions of these Terms.

Governing law and jurisdiction: Where you are a business, these Terms and any dispute or claim arising out of, or in connection with, it, its subject matter or formation (including non-contractual disputes or claims) will be governed by, and interpreted in accordance with, the laws of England and Wales and the parties agree that that courts of England and Wales will have exclusive jurisdiction to settle such disputes or claims. Where you are an individual, these terms are governed by English law, and you can bring legal proceedings in respect of the Undra NFTs in the English courts. If you live in another jurisdiction, you can bring legal proceedings in respect of the products in either in your home jurisdiction or the English courts.

Schedule 1 – Undra NFT Licence

The Undra NFT Licence (this Licence) is built to support applications for blockchain technologies, and

to help clarify a user’s rights in artistic overlays as the owner of an Undra NFT.

Half Decent Limited (Half Decent) intends to use this Licence in its current Founders Sale and any future NFT Sales to help ensure that NFT owners enjoy broad and meaningful rights in the art associated with their purchased NFTs.

1. Definitions

   
   

   Art	means any art, design, text, video and drawings that may be associated with an Undra NFT that you Own.
   NFT	means any blockchain-tracked, non-fungible token, such as those conforming to the ERC-721 or ERC 1155 standard.
   Own	means, with respect to an NFT, an NFT that you have purchased or otherwise rightfully acquired from a legitimate source, where proof of such purchase is recorded on the relevant blockchain.
   Extensions	means third party designs that: (i) are intended for use as extensions or overlays to the Art, (ii) do not modify the underlying Art, and (iii) can be removed at any time without affecting the underlying Art.
   Purchased NFT	means an Undra NFT that you Own.
   Third Party IP	means any third party patent rights (including, without limitation, patent applications and disclosures), copyrights, trade secrets, trademarks, know-how or any other intellectual property rights recognized in any country or jurisdiction in the world.

   
   

2. Ownership

   You agree that Half Decent (or, as applicable, its licensors) owns all legal right, title and interest in and to the Art, and all intellectual property rights contained in the Undra NFT. The rights that you have in and to the Art are limited to those described in this Licence. Half Decent reserves all rights in and to the Art not expressly granted to you in this Licence.

3. Licence

   1. General Use. Subject to your continued compliance with the terms of this Licence, Half Decent grants you a worldwide, non-exclusive, non-transferable, royalty-free licence to use, copy, and display the Art for your Purchased NFTs, along with any Extensions that you choose to create or use, solely for the following purposes:

      1. for your own personal, non-commercial use;

      2. as part of a marketplace that permits the purchase and sale of your NFTs, provided that the marketplace cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art; or

      3. as part of a third party website or application that permits the inclusion, involvement, or participation of your NFTs, provided that the website/application cryptographically verifies each NFT owner’s rights to display the Art for their Purchased NFTs to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Purchased NFT leaves the website/application.

4. Restrictions.

   1. You agree that you may not, nor permit any third party to do or attempt to do any of the following without Half Decent’s express prior written consent in each case:

      1. modify the Art for your Purchased NFT in any way, including, without limitation, the shapes, designs, drawings, attributes, or colour schemes (your use of Extensions will not constitute a prohibited modification under this Licence);

      2. use the Art for your Purchased NFTs to advertise, market, or sell any third party product or service;

      3. use the Art for your Purchased NFTs in movies, videos, or any other forms of media, except to the limited extent that such use is expressly permitted in Section Error! Reference source not found. above or solely for your own personal, non-commercial use;

      4. sell, distribute for commercial gain (including, without limitation, giving away in the hopes of eventual commercial gain), or otherwise commercialize merchandise that includes, contains, or consists of the Art for your Purchased NFTs.

      5. attempt to trademark, copyright, or otherwise acquire additional intellectual property rights in or to the Art for your Purchased NFTs; or

      6. otherwise utilize the Art for your Purchased NFTs for your or any third party’s

         commercial benefit.

         
         

   2. Under no circumstances do we permit you to use the Art for your Purchased NFTs in connection with images, videos, or other forms of media that depict hatred, intolerance, violence, cruelty, or anything else that could reasonably be found to constitute hate speech or otherwise infringe upon the rights of others.

5. Terms of Licence

   1. The Licence granted in 3 above applies only to the extent that you continue to Own the applicable Purchased NFT. If at any time you sell, trade, donate, give away, transfer, or otherwise dispose of your Purchased NFT for any reason, the Licence granted in Section 3 will immediately expire with respect to those NFTs without the requirement of notice, and you will have no further rights in or to the Art for those NFTs.