Please read this Risk Disclosure carefully. This disclosure discusses the risks associated with any and all transactions associated with the Stream Tokens and platform. Please consult and work directly with tax, legal, and financial professionals before making any decisions related to the purchase, sale, minting, owning, issuance, transfer, buy out or distribution of an NFT or fractions of an NFT.
No Representations and Warranties
NEWM MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WRITTEN OR ORAL, MADE BY OR ON BEHALF OF NEWM IN CONNECTION THEREWITH, INCLUDING ANY REPRESENTATIONS OR WARRANTIES OF TITLE, NON-INFRINGEMENT, FUNCTIONALITY, MERCHANTABILITY, USAGE, SECURITY, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, WORKMANSHIP OR TECHNICAL QUALITY OF ANY TOKEN OR WORK, SMART CONTRACT CODE, OR SOFTWARE.
Purchase Price May Not be at Fair Market Value and NEWM nor the Artist Does Not Guarantee the Value of Tokens
The prices of the Tokens are extremely volatile, may fluctuate significant, may not be able to be sold or transferred, may not have a liquid market to sell or buy the Token. The valuation of the Tokens in a secondary market is usually not transparent, and highly speculative. The Tokens do not hold any ownership rights to NEWM’s assets and, therefore, are not backed by any tangible asset. The price of the Tokens can fluctuate greatly within a short period of time. There is a high risk that a token holder could lose his/her entire contribution amount. In the worst-case scenario, the Tokens could be rendered worthless.
Tokens are Non-Refundable
Except for the cases strictly provided by the applicable legislation or in the legally binding documentation on the Tokens sale, NEWM nor the Artist is not obliged to provide the Token holders with a refund related to the Tokens for any reason, and the Token holders will not receive money or other compensation in lieu of the refund. No promises of future performance or price are or will be made in respect to the Tokens, including no promise of inherent value, no promise of continuing payments, and no guarantee that the Tokens will hold any particular value. Therefore, the recovery of spent resources may be impossible or may be subject to foreign laws or regulations, which may not be the same as the laws of the jurisdiction where the Token holder is located.
Regulators or Governments may Exercise authority over the Tokens
Tokens may be subject to regulatory and/or government oversight which may affect the pricing of the Tokens and the ability to sell or buy the Tokens. In addition, Tokens may be subject to taxation or other regulatory or government control such as being considered securities by various regulatory agencies and/or government entities and may be subject to regulatory requirements including but not limited to taxation, disclosure, prohibition, being deemed to be financial securities subject to increased oversight. NEWM hereby disclaims any liability whatsoever if the Tokens are deemed to be commodities, currencies, securities or any other instrument that is subject to regulatory regulation and oversight by any government entities worldwide. The tax characterization of the Tokens is uncertain. The purchaser shall seek his own tax advice in connection with the acquisition, storage, transfer, and use of the Tokens, which may result in adverse tax consequences to the purchaser, including, without limitation, withholding taxes, transfer taxes, value-added taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting requirements.You agree you are solely responsible for accessing whether any taxes may be due and solely responsible for any any taxes that may be required to be paid due to your ownership or transactions of Tokens.
NEWM owes no Fiduciary Duties to You
NEWM is not a fiduciary nor owes any duties to a you, including the duty to ensure fair pricing of Tokens sold on the NEWM Platform or to police user behavior on the NEWM Platform.
Buying Tokens involves risk and may result in Significant losses.
You may experience losses due to systems failures.
You may experience losses if your orders related to Tokens cannot be executed normally due to systems failures on the NEWM Platform. NEWM hereby waives any liability for any failures of the NEWM platform. You hereby agree to accept any risk inherent in a system failure on the NEW Platform.
There may not be any royalty payments associated with your tokens
NEWM is Not Responsible for Technical Errors on any Blockchain Network
There are significant cybersecurity risks associated with Tokens that may adversely affect the value and/or liquidity of your tokens and may result in the Tokens being misappropriated or otherwise stolen from you.
Blockchain and software risks
There may be Blockchain Delay Risks.
Timing of block production is determined by proof of work so block production can occur at random times. The cryptocurrency sent as a payment for the Tokens in the final seconds of the Token sale may not get included in that period. The respective blockchain may not include the purchaser’s transaction at the time the purchaser expects and the payment for the Tokens may reach the intended wallet address, not on the same day the purchaser sends the cryptocurrency.
Blockchain Congestion Risk
Most blockchains used for cryptocurrencies' transactions are prone to periodic congestion during which transactions can be delayed or lost. Individuals may also intentionally spam the network in an attempt to gain an advantage in purchasing cryptographic tokens. That may result in a situation where block producers may not include the purchaser’s transaction when the purchaser wants or the purchaser’s transaction may not be included at all.
Risk of Software Weaknesses
The token smart contract, the underlying software application, and software are still in an early development stage and unproven. There are no representations and warranties that the process for creating the Tokens will be uninterrupted or error-free. There is an inherent risk that the software could contain weaknesses, vulnerabilities, or bugs causing, inter alia, the complete loss of the cryptocurrency and/or the Tokens.
Risk of New Technology
The Tokens are new and untested. The Tokens might not be capable of completion, creation, implementation, or adoption. No blockchain may be ever launched. The purchaser of the Tokens should not rely on NEWM, the token smart contract, or the ability to receive the Tokens associated with the NEWM in the future. The Tokens might not function as intended, and any Tokens may not have functionality that is desirable or valuable. Also, technology is changing rapidly, so the Tokens may become outdated.
You Acknowledge the Risk of Smart Contracts and Blockchain Technology, and Assume the Risk of Interacting with Smart Contracts and Blockchain Technology
NEWM WILL NOT BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSSES YOU INCUR AS THE RESULT OF YOUR USE OF ANY BLOCKCHAIN NETWORK OR ANY ELECTRONIC WALLET, INCLUDING BUT NOT LIMITED TO ANY LOSSES, DAMAGES, OR CLAIMS ARISING FROM: (A) USER ERROR, SUCH AS FORGOTTEN PASSWORDS OR INCORRECTLY CONSTRUED SMART CONTRACTS OR OTHER TRANSACTIONS; (B) SERVER FAILURE OR DATA LOSS; (C) CORRUPTED WALLET FILES; (D) UNAUTHORIZED ACCESS OR ACTIVITIES BY THIRD PARTIES, INCLUDING BUT NOT LIMITED TO THE USE OF VIRUSES, PHISHING, BRUTE-FORCING OR OTHER MEANS OF ATTACK AGAINST THE NEWM PLATFORM, BLOCKCHAIN NETWORKS, ELECTRONIC WALLETs.
NEWM has described the risks and uncertainties that its management believes are material these risks and uncertainties may not be the only one's NEWM face. Additional risks and uncertainties, including those the NEWM, currently is not aware of or deem immaterial, may also materially adversely affect on NEWM’s business and/or the value of the Tokens.