The OKX Web3 Marketplace User Agreement outlines the terms governing your access to and use of the decentralized trading services provided by OKX Technology Services Pte. Ltd. and its affiliates. This agreement is a crucial document that supplements the general OKX Terms of Service, and it specifically addresses interactions within the Web3 ecosystem, including the trading of digital assets, inscriptions, NFTs, and other digital collectibles.
Understanding the Web3 Marketplace Service
What Is the OKX Web3 Marketplace?
The OKX Web3 Marketplace operates as a decentralized interface that enables users to trade, exchange, and manage various digital assets. It aggregates NFT listings from third-party platforms and supports creation through minting on supported blockchain networks. Importantly, OKX does not custody assets, participate directly in transactions, or act as a counterparty in any trade.
Key Features and Operations
Transactions on the marketplace are subject to confirmation times on third-party blockchains, which can vary. To engage with the service, you must connect a non-custodial digital wallet, such as the OKX Web3 Wallet. You are solely responsible for managing your wallet credentials—including passwords, private keys, and seed phrases—as OKX cannot retrieve, freeze, or restore wallet access.
👉 Explore secure wallet integration methods
Fees and Costs Associated With the Service
Types of Fees You Might Encounter
- Network (Gas) Fees: These are imposed by third-party blockchains for processing transactions and are your responsibility.
- Third-Party Protocol Fees: Additional costs may arise from asset transfers or other operations governed by external protocols.
- Service Fees: OKX may charge a percentage-based fee on transactions, deducted directly from trade amounts. Fee schedules are published on the OKX platform and subject to change.
Intellectual Property and Ownership Rights
Creator Responsibilities and Guarantees
If you create or sell digital assets on the marketplace, you warrant that:
- You own or control all rights to the digital assets and associated artwork.
- You are authorized to license these rights and that the content does not infringe on third-party intellectual property.
- You indemnify OKX against claims arising from IP violations.
Purchaser Rights and Limitations
When you acquire a digital asset, you typically do not gain intellectual property rights to the underlying artwork unless explicitly agreed upon with the seller. Ownership of the asset is managed via smart contracts and blockchain protocols.
Licensing and Usage Terms
Sellers grant buyers a global, royalty-free license to use purchased artwork for non-commercial, personal purposes, including display on verified marketplaces that cryptographically confirm ownership.
Handling IP Infringement Claims
OKX complies with the Digital Millennium Copyright Act (DMCA) and similar regulations. To report infringement, submit a detailed notice including:
- Identification of the copyrighted work.
- Description of the infringing material and its location.
- A statement of good faith belief that the use is unauthorized.
- Your contact information and signature.
Risk Disclosures and User Responsibilities
Common Risks in Decentralized Trading
- Timing Variability: Asset redemption or access times may fluctuate due to blockchain network conditions.
- Address Errors: OKX is not liable for losses from transferring assets to incorrect addresses. You must ensure accuracy in all address inputs.
- Third-Party Platforms: The service integrates with external blockchains, websites, and applications. OKX does not endorse or control these platforms and is not responsible for their content, services, or failures.
- Protocol Failures: Losses may occur due to blockchain suspensions, hacking, technical issues, force majeure events, or regulatory changes.
User Accountability
You bear full responsibility for losses resulting from:
- Operational errors, such as misentered addresses or failed transactions.
- Unauthorized access to your wallet or compromised credentials.
- Participation in prohibited activities like market manipulation or insider trading.
Prohibited Activities and OKX’s Enforcement Rights
Unacceptable Behaviors
OKX strictly prohibits:
- Market manipulation, price distortion, and insider trading.
- Exploiting service vulnerabilities to harm OKX or other users.
- Infringing on others’ rights or violating applicable laws.
Enforcement Measures
OKX may suspend accounts, restrict instructions, or collaborate with regulators to mitigate market harm. You waive any claims for losses resulting from these actions.
Warranties and Liability Limitations
Service “As Is”
OKX provides the marketplace and its content without warranties, express or implied. Digital assets are traded on an “as available” basis.
Liability Cap
OKX’s cumulative liability is limited to the total service fees collected from you. Indirect, consequential, or punitive damages are excluded where permitted by law.
Legal Framework and Dispute Resolution
Governing Law
This agreement is governed by Singapore law, excluding conflict of principles.
Dispute Process
- Mediation: Disputes must first be submitted to the Singapore International Mediation Centre.
- Arbitration: Unresolved disputes proceed to binding arbitration under Singapore International Arbitration Centre (SIAC) rules.
- Proceedings: Conducted in English with three arbitrators—one appointed by each party and a third by the SIAC President.
- No Class Actions: You agree to resolve disputes individually, not through class or representative actions.
- Confidentiality: Arbitration details remain private except as required by law.
General Provisions
Agreement Acceptance
Using the service implies acceptance of this agreement and all related rules. OKX may modify terms by updating the “Recently Updated” date. Continued use after changes constitutes acceptance.
Language Preference
The English version prevails over translations. OKX retains final interpretation authority.
Frequently Asked Questions
What is the OKX Web3 Marketplace?
It is a decentralized platform for trading digital assets like NFTs. OKX provides the interface but does not custody assets or participate in trades.
Who is responsible for managing my digital wallet?
You are solely responsible for your wallet’s security, including passwords and private keys. OKX cannot access or recover wallet credentials.
Are there fees for using the marketplace?
Yes. You may incur network gas fees, third-party protocol costs, and OKX service fees based on transaction values.
What happens if I send assets to the wrong address?
OKX is not liable for address errors. You must verify all addresses before transacting, as blockchain transfers are irreversible.
How does OKX handle intellectual property disputes?
OKX follows DMCA procedures for infringement claims. Submit a detailed notice to initiate a review, which may result in content removal.
Can OKX modify the user agreement?
Yes. OKX may update terms periodically. Changes are effective upon posting, and continued use signifies acceptance.