Terms of Service
Welcome to the 24karat Platform (“the Service”)!
This Service is operated by 24karat Inc. (“the Company”) and includes:
a wallet service that enables users to manage brand tokens and brand NFTs, and
a marketplace where users can acquire, exchange, and trade brand tokens and brand NFTs.
The Service consists of:
Brands that register brand tokens (“Brands”),
Creators who create and register brand NFTs using blockchain technology, including digital art (“Creators”),
Users who hold or interact with brand tokens and brand NFTs (“Users”).
These Terms of Use (“User Terms”) define the rights and obligations between Users and the Company. To use this Service, Users must agree to all terms set forth in these User Terms.
Please refer to the Privacy Policy for details on how we collect, use, store, and disclose personal information.
Definitions
The following terms are defined as used in these User Terms:
Brand: A company, organization, or individual that enters into a separate agreement with 24karat.
Brand Token: A unique token issued by a Brand under agreement with the Company, awarded to users through service interactions (e.g., visiting stores, purchases, viewing content, converting other points), or purchased for money. Brand Tokens can only be used within the Service as specified by the Company. They are not securities, prepaid payment instruments, fiat currency, or crypto assets.
NFT: Non-Fungible Token, a unique, non-interchangeable token issued on a blockchain.
Brand NFT: An NFT created either by the Brand itself or a creator authorized by the Brand under agreement with the Company.
Wallet: A blockchain wallet (e.g., on Flow) created by the User through the Service, used to manage tokens and NFTs on blockchains supported by 24karat.
Brand Community: A community space on 24karat where Brands conduct promotions using brand tokens or NFTs, and users can interact with each other.
24k Points: Points that can be used only within the Service and are purchased or earned through specified methods designated by the Company.
Sales Proceeds: Revenue generated by a User through the Service that is eligible to be converted to fiat currency.
Account Registration
The Service is only available to:
Individuals aged 18 or older, or
Individuals aged 13–17 who have obtained consent from a legal guardian.
To register an account, Users must agree to all User Terms, configure an environment compatible with the Service (e.g., browser or app), and provide required information (e.g., email address, phone number).
The Company may reject account creation if it determines (or suspects) that the User:
Provided false, inaccurate, or incomplete information.
Is under 13 years of age or age cannot be verified.
Is 13–17 years old and guardian consent cannot be verified.
Is under legal guardianship or similar and does not have the necessary consent.
Cannot set up an environment to use the Service.
Previously had a user account deleted.
Is closely related to someone whose account was deleted.
Previously violated the User Terms or other agreements.
Is affiliated with antisocial forces.
Is otherwise deemed inappropriate by the Company.
Account Management & Prohibited Conduct
Users must promptly update their registration information if it changes.
Users are responsible for protecting their account from unauthorized use.
Users must not engage in or attempt any of the following:
Illegal or criminal activity.
Fraud, threats, defamation, or interference with the Company.
Infringement of IP or rights of the Company or third parties.
Sending unauthorized programs or overloading the system.
Reverse engineering or system analysis.
Disrupting the Service.
Unauthorized access.
Using the Service for antisocial activity or supporting such groups.
Transferring, selling, or allowing others to use their account.
Sending NFTs or tokens externally to the wallet without going through the Service.
Actions designated as prohibited by the Company.
Facilitating any of the above.
Attempting any of the above.
Violating social norms or public order.
Any other conduct deemed inappropriate for Service usage.
Users are liable for damages caused by violating any of the above.
Users are also responsible for all actions performed using their account, including those by third parties.
Account Deletion
Users may delete their accounts at any time using the Company’s prescribed method.
Account deletion does not void prior obligations or rights under the Terms. However, the User will forfeit all brand tokens, brand NFTs, 24k points, and proceeds associated with the account.
Account Suspension / Termination
The Company may temporarily restrict, suspend, or delete accounts without disclosing the reason if:
Any condition listed in Section 2 or Section 3 applies.
The User fails to respond to Company inquiries.
The account has been inactive for over two years.
The User violates any other provision of these Terms.
Account deletion does not nullify prior rights or obligations. However, the User will lose all brand tokens and NFTs in the account.
Intellectual Property Rights
IP rights related to content in the Service (including brand tokens and NFTs) belong to the Company or respective rights holders—not the User.
The Company and rights holders (e.g., creators) grant Users holding brand NFTs a global, non-exclusive, non-transferable, and royalty-free license to use the NFTs per specified scope. Licenses remain valid as long as the User continues using the Service and holds the NFT within the Service.
Brand Communities
Users may join each Brand Community in a manner designated by the respective Brand.
Within the Brand Community, users can earn and use brand tokens and brand NFTs through campaigns, missions, game features, and other activities as specified by the Brand.
In Brand Communities, users may be allowed to publicly post or send text or images visible to other unspecified users. By submitting such data (“Submitted Data”), the User agrees to the following:
The Submitted Data does not infringe on any third-party rights, including intellectual property, privacy rights, portrait rights, or any personal rights.
If the Submitted Data contains content with rights held by a third party, the User has obtained all necessary permissions from rights holders (e.g., copyright owners).
If any disputes, claims, or lawsuits arise from the Submitted Data, the User will resolve such matters at their own expense and responsibility.
The Company may use (including modifying) the Submitted Data for any purpose and grant its use to any third party.
The Company may review and delete all or part of the Submitted Data if deemed necessary.
Brand Tokens
Brand Tokens do not provide dividends or any financial distributions to the Users who hold them.
Some Brand Tokens may be acquired free of charge through Brand Community activities as specified by the Brand.
Certain Brand Tokens can be purchased on the marketplace operated by the Company or exchanged for 24k Points. Their prices may fluctuate based on an algorithm set by 24karat.
Brand Tokens may be sent to other Users but cannot be traded directly between Users.
Brand NFTs
Brand NFTs do not provide dividends or any financial distributions to the Users who hold them.
Some Brand NFTs may be acquired free of charge through Brand Community activities as specified by the Brand.
Certain Brand NFTs may be purchased through the Company’s marketplace or exchanged for Brand Tokens or 24k Points.
24k Points
24k Points can be purchased or earned through the Company’s marketplace.
Points are valid for 180 days from the date of purchase or receipt. Any points not used within that period will expire and become invalid.
Sales Proceeds and Withdrawals
Sales Proceeds are transferred to the User’s designated bank account upon submission of a withdrawal request (“Withdrawal Application”) by the Company’s specified deadline (“Withdrawal Deadline”).
Users must submit a withdrawal request for an amount that meets or exceeds the minimum withdrawal amount separately specified by our company (hereinafter referred to as the “Minimum Withdrawal Amount”).
Users may only designate bank accounts under their own name.
If the User does not submit a Withdrawal Application by the deadline, or only submits for part of the Sales Proceeds, the remaining amount will automatically be converted into 24k Points after the deadline.
The Company may reject a Withdrawal Application to prevent fraud or misuse, and is under no obligation to disclose the reason for rejection.
A withdrawal fee designated by the Company will be automatically deducted from the withdrawal amount.
If a bank transfer fails due to incorrect account information or other user fault, the deducted withdrawal fee will not be refunded. The User must promptly submit correct account information.
If funds are transferred to a third party due to incorrect bank details and the bank accepts the transaction, the User may request a reversal through the Company (with fees), but the Company does not guarantee successful recovery or bear responsibility for any loss.
Supplementary Provisions
Users agree that the Company may adjust balances of brand tokens or transfer brand NFTs based on User operations within the Service.
Users are solely responsible for reporting and paying any taxes applicable to their use of the Service, including but not limited to income, capital gains, or consumption taxes.
The Company is not a party to transactions between Users and Brands. Disputes must be resolved directly between the parties, and the Company assumes no liability.
Service Suspension, Termination, or Discontinuation
The Company may suspend or interrupt all or part of the Service without prior notice in any of the following cases:
Maintenance or inspection of the system.
Disruption caused by server or network failures, overload, unauthorized access, or hacking.
Force majeure events such as earthquakes, lightning, fire, storms, floods, blackouts, or other natural disasters.
Any other case where the Company deems suspension necessary.
The Company may terminate the Service at its discretion. In such cases, the Company will notify Users in advance in a reasonable manner.
Termination of the Service does not nullify prior rights or obligations between the Company and Users.
Users acknowledge that upon termination of the Service, they will lose access to and ownership of all brand tokens and NFTs. However, where possible, the Company will allow Users to transfer NFTs to external wallets.
Disclaimers and No Warranty
The Company makes no warranties, express or implied, that the Service will:
Fulfill specific purposes of Users,
Offer expected functionality, accuracy, completeness, or effectiveness,
Be available continuously,
Or be free of defects.
The Company is not liable for damages resulting from user negligence (e.g., failure to update information, poor account management, or unauthorized account use).
The Company is not liable for non-performance due to force majeure, including natural disasters, war, strikes, pandemics, legal/regulatory changes, etc.
The Company bears no responsibility for disputes between Users or between Users and third parties, whether within or outside the Service.
Liability for Damages
Users must compensate the Company for any damages caused by their own actions related to the Service.
The Company is only liable for damages caused by:
Intentional or gross negligence: Full compensation
Ordinary negligence: Limited to the total amount the User has paid to the Company for using the Service
If the User is a corporation or uses the Service for business purposes, the Company shall not be liable for any damages unless caused by intentional or gross negligence. In any case, the Company’s liability is capped at the total fees paid by the User.
Changes to the User Terms
The Company may modify these Terms without prior consent from Users if:
The changes are in the general interest of Users, or
The changes are reasonable in light of their purpose and context.
In other cases, changes will require User consent.
If the Company notifies Users of a proposed change and the effective date, and the User uses the Service afterward, it will be deemed that the User has agreed to the revised Terms.
Severability
If any provision of these Terms is found to be invalid or unenforceable, the remainder will continue in full force and effect.
Governing Law and Jurisdiction
These Terms are governed by and interpreted under the laws of Japan. All disputes arising from or relating to these Terms shall fall under the exclusive jurisdiction of the Tokyo District Court as the court of first instance.