This is a proposed contract between the Author and Authors School of Business, LLC. The final contract may be different than shown below and is subject to change without notice.
This is an agreement between _____________________ (Author) and Authors School of Buisness, LLC (ASB) for the purpose of creating, selling and using an NFT from a book selected by the author.
The author gives us permission to alter the book cover to create NFT this includes making a cover into GIF animation, moveable art, or other electronic forms that make the cover more unique and valuable.
The author has final approval of the finished artwork. The author has 48 hours to approve or reject artwork, and to provide a list of changes, alterations, etc., to IL. If no changes, alterations, etc., are provided within 48 hours, IL will assume the author has approved the artwork and will move forward with the creation of the NFT.
Once approved the author permits us to sell the NFT in the quantity that the author has approved at the price the author has agreed to. The author understands that the original US$ price may not be the same at the time of the actual sale of the NFT due to market valuation at the time of sale.
The NFT product that has met all qualifications as listed above is available for sale for a minimum of one calendar year, broken down to two six-month periods, or until quantities have sold out.
The Author agrees to work with ASB to determine the original price of NFT based on the US dollar value. Once the price is set, the author understands that the cryptocurrency selected for the purchase of the NFT may change in value positively or negatively and agrees to accept those changes that the free market has determined. The author further agrees to not hold Indie Lector liable, or responsible in any way for those market changes.
The author understands that there is no guarantee that the NFT in question will sell at the original sale price or resale at a later date after the original sale.
The author must notify ASB, thirty (30) days prior to the end of the calendar year to terminate the contract. If the author fails to notify ASB to cancel the contract, the contract will continue for another calendar year, and so on. The cancellation of the contract only pertains to the original sale of the NFT, and not to the resale of previously sold NFTS. A contract for resale of NFTs and the appropriate commissions remains in effect for eternity, or until such time as NFTs are no longer sold, resold, or exchanged in any format.
If the author chooses to have the NFT removed from sale before the calendar year is complete, and after the initial placement for sale, Arthur agrees to pay Indie Lector $1,500.00 as a creation fee. Once this fee is paid the Author will have the right to sell the NFT on the platform of their choice, without owing Indie Lector any additional fees, payments, royalties, etc.
ASB agrees to host, promote and market the NFT through the website of its choice, along with the B4R bookstore website.
The author will continue to have all copyrights of the original cover artwork. The author understands that they are giving up ownership of the electronic file of the NFT only, not the copyright of the original cover or the story related to the title for the cover given away in any form by the author, or by Indie Lector.
If the author agrees to include an eBook as part of the NFT purchase the book will be distributed by the Indie Lector bookstore division, B4R.store. The author will supply an approved ePub file for distribution Author agrees to and understands that there is no further compensation given or distributed to the author for the eBook distribution that is supplied to the NFT purchaser.
The author agrees to set no restrictions on who may purchase the NFT, or who may re-sale the NFT at a future date.
The original GIF that was created for the purpose of creating the NFT can be used by the B4R bookstore for the purpose of marketing the book title associated with the GIF, and the NFT for as long as the book title is being sold by the B4R bookstore.
The author agrees to promote the NFT for a minimum of six consecutive months on their social media platforms, newsletters, emails, and any other form of customer/reader outreach they interact with. Proof must be submitted to ASB by either tagging the promotion with the B4R social media handle identifications, or copies of the promotion as they are posted. These postings by the author will equal no less than 300 postings during the one-year calendar period the contract is valid.