NFT Syndicate Terms

1. To list your artwork with the Rowen Exchange, you must agree to the following terms:

  • The artwork must be verifiably yours. To verify that you are the owner of the artwork, we will conduct due diligence, including but not limited to asking you to show us the originals and any drafts of the originals.
  • Your artwork can not be uploaded anywhere on the internet, nor publicly available. If the artwork is already on blockchain, then you must transfer ownership of the artwork to Rowen Exchange.
  • Your artwork must meet minimum quality and curation standards.
  • You must sign a separate exclusive listing agreement granting Rowen Exchange an exclusive right to sell for a minimum listing duration of 6 months.
  • If your artwork doesn’t sell, and you decide to reclaim ownership, you must reimburse Rowen Exchange for all minting and advertising fees. You will be invoiced and the fees must be remitted before we transfer ownership back to you.
  • If you choose not to reclaim ownership, these Terms will automatically renew, and Rowen Exchange will re-list the artwork according to the Terms herein.

2. Collection Floor Prices

  • NFT collections must adhere to minimum floor prices, as curated and controlled exclusively by Rowen Exchange.
  • Abstract and modern contemporary art collections that meet our quality standards shall have a minimum floor price of 30,000 XRP.
  • All other collections will have a minimum floor price of 2,500 XRP.

3. Roles: Participation in the Rowen Exchange NFT Syndicate involves a combination of 3 roles:

  • Originator: The Originator is the artistic visionary who conceives of the collection idea and concept.
  • Creator: The Creator is the artist who brings the vision to life crafting the work from idea to reality.
  • Curator: The Curator is always Rowen Exchange and no one else. The Curator is responsible for approving idea submissions, establishing collection floor pricing, minting, marketing, and advertising the collection, which includes securing exhibitions, collecting sales revenue, and distributing payout to the Originator and the Creator.

4. Originator Expectations

  • If you are participating as an Originator, then you will be expected to document your idea and submit it for approval. If approved, the Curator will assign a Creator for the project.
  • You agree to work with the Creator assigned by Rowen Exchange.
  • You will be allowed to participate and collaborate on multiple projects as either Originator or Creator. For example, you can be Originator for one project, while being Originator or Creator on other projects.

5. Creator Expectations

  • If you are participating as a Creator, you will be expected to create artwork according to Rowen Exchange quality standards, and according to documented goals, specifications, and requirements as set forth by the Originator and as approved by Rowen Exchange.
  • You will be allowed to participate and collaborate on multiple projects as either Creator or Originator. For example, you can be Creator for one project, while being Creator or Originator on other projects.

6. Originator & Creator

  • If you are both the Originator and Creator (i.e you come to us with your own pre-existing artwork which is verifiably yours) then you will be expected and encouraged to participate in other projects within our NFT Syndicate.

7. NFT Branding

  • All collections curated by the Rowen Exchange will be minted with an account and wallet address owned by Rowen Exchange and thus associated with the Rowen Exchange brand.
  • Artworks will be listed with the name of the Originator and Creator. For example, “Reflections by John and Sarah” where the Originator’s name appears 1st followed by the Creator’s name.
  • Artworks will contain the signatures of the Originator and the Creator situated on the bottom-right corner of the item with the Originator’s signature 1st followed by the Creator’s signature.
  • If you are both the Originator and the Creator (i.e. you come to us with your own pre-existing artwork which is verifiably yours) then the artwork will be listed with your name, for example, “Reflections by John”. For privacy reasons we will not list your last name.
  • If there is a conflict where your name matches someone else’s name in our NFT Syndicate, then we will include the initial of your last name, For example, “Reflections by John K.”

8. Syndicate Prohibitions

  • In accordance with our Exclusive Listing Agreement and Exclusive Right to Sell, you are strictly prohibited to duplicate any listing that we mint and publish, even if you are the creator owner. If you duplicate a listing, we will reserve the right to terminate your membership and claim lifetime ownership of your work and 100% of any proceeds.
  • You can not change your name from one listing to another. For example, you can’t be John in one listing, and JJK in another listing. Your name must be consistent across all listings.

9. Compensation

  • The Curator, Rowen Exchange, earns and collects 50% of all proceeds for all items sold within the Syndicate. The remaining 50% is called the “Net Share”.
  • Originators earn 35% of the Net Share for any item/s associated with a collection which the Originator originated.
  • Creators earn 65% of the Net Share for any items/s associated with a collection which the Creator created.
  • If you are both the Originator and the Creator (i.e. you come to us with your own pre-existing artwork which is verifiably yours), then you will receive a flat commission of 60% and Rowen Exchange will receive 40%.
  • Rowen Exchange will claim 100% of all reseller fees.
  • Reseller fees are determined by Rowen Exchange and equal a percentage of revenue collected by future owners/sellers of the item(s).

10. Payout

  • All payments due, owing and/or payable to you by Rowen Exchange as it pertains to the successful sale of items belonging to collections in which you participated as either an Originator, or Creator, or both as Originator and Creator, will be paid to you within three (3) days from the date that Rowen Exchange receives its full remittance pertaining to such transactions.
  • To receive payout, you must invoice Rowen Exchange and include your payout address on the invoice.
  • Payouts are remitted in RLUSD or XRP only, and no other blockchain or denomination.

11. Membership cancellation

  • All Terms of this agreement and all other Agreements, between you and Rowen Exchange, whether verbal or written, pertains to members and members only.
  • Rowen Exchange holds no obligation to non-members whatsoever.
  • While you are a member, you will receive all payments owed to you and in a timely fashion. However, if you cancel your membership (or if your membership expires), then you will forfeit all claims for payments owed for transactions that occur after your membership cancellation/expiration.
  • For example if you cancel your membership (or it expires), and then sometime later your artwork sells, Rowen Exchange will claim and retain 100% of the proceeds.
  • Should you desire to reclaim ownership of your artwork at anytime, you must do so before your membership expires, and reimburse us for minting and advertising fees.

12. Indemnification and Disclaimer

By participating in the Rowen Exchange NFT Syndicate, you agree to indemnify and hold harmless Rowen Exchange, its members, its affiliates, and partners from any claims, damages, or liabilities arising from the listing, or sale, or lack of sale of your artwork. Rowen Exchange provides no representations or warranties regarding NFT artwork performance or value. Artists are encouraged to conduct their own assessment and accept all associated risks prior to participating in the Rowen Exchange NFT Syndicate. Participation in the Rowen Exchange NFT Syndicate constitutes acknowledgment and acceptance of these Terms.