Last updated: December, 2017
Welcome to CRAFTY Services!
1. Legal Aspects
1.1. General information
The Crafty Token (CFTY) does not have any legal qualification as an investment guarantee, as it does not give any right to dividends or interests.
The sale of tokens by Crafty is final and non-refundable unless the minimum funding goal is not reached after the full term of the collective financing. In this case, the fees inherent to the return transactions will be borne by the token holder.
The tokens provided by Crafty are not parties and do not entitle their holders to attend meetings and/or company meetings.
Crafty tokens (CFTY) may not have a performance or a specific value outside the Crafty Platform. Therefore, Crafty tokens (CFTY) are not intended to be used for speculative or investment purposes.
The Crafty token holder (CFTY) is aware that national securities laws, which regulate various types of investments and are subject to regulatory scrutiny for investor protection, are not applicable.
Any person who acquires Crafty tokens expressly acknowledges and declares that he has carefully reviewed this document and fully understands the risks, costs, and benefits associated with your Crafty purchase.
1.2. Expected knowledge
WARNING: DO NOT ACQUIRE CRAFTY TOKENS IF YOU DO NOT KNOW ABOUT CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS.
The supporter undertakes to view/have significant experience with crypto-coins, systems, and blockchain-based services, and understands the risks associated with collective financing as well as the mechanism related to the use of cryptography (including storage).
Crafty is not responsible for any loss of tokens or situations that make it impossible to access them, which may result from any action or omission by the User or anyone who commits to Crafty (CFTY) shopping tokens, as well as in case of hackers attacks, because because is understood that the Crafty token holder (CFTY) have not only the expected knowledge, but also know how to use its associated digital wallets.
1.3. Associated risks with CFTY acquisition
The act of acquiring Crafty cryptographic tokens (CFTY) and storing them involves several risks, in particular the risk that Crafty may not be able to launch its operations and develop its blockchain or provide the promised services. Therefore, before acquiring Crafty tokens (CFTY), any user should carefully consider the risks, costs, and benefits of acquiring Crafty tokens in the context of collective financing and, if necessary, obtain any independent advice, knowledge, and people that the user repute experienced in this matter.
Any interested person who is not in a position to accept or understand the risks associated with this activity (including risks related to the non-development of the Crafty platform) or any other risks as indicated in the Terms and Conditions of their collective financing, shall not acquire Crafty tokens (CFTY).
1.3.1. CRYPTOGRAPHIC TOKENS CAN PRESENT EXTREME VOLATILITY OF VALUE
As stated above, Crafty tokens (CFTY) do not represent any kind of formal or legally binding investment.
Cryptographic tokens that have value in public markets, such as the BTC, have shown extreme price fluctuations over short periods of time on a regular basis. A supporter must be prepared to expect similar fluctuations in the value of Crafty (CFTY) equivalent in BTC, products or services, fiduciary currencies such as United States Dollars (“USD”) or currencies of other jurisdictions. Such fluctuations are due to market forces and represent changes in the supply and demand balance.
Due to different regulatory mandates in different jurisdictions and the inability of citizens of certain countries to open accounts on exchange platforms located anywhere in the world, the liquidity of Crafty tokens (CFTY) may be noticeably different in different countries and this is likely to be reflected in significant value discrepancies.
By purchasing Crafty tokens, its holder acknowledges and expressly declares that it has fully understood that it may experience value volatility and will not seek to hold AZKLENY COMPANY S.A. liable for any loss or any special, incidental or consequential damages arising out of or in any way from the sale of Crafty tokens.
1.3.2. Further considerations on risks involved in the acquisition and use of CFTY
As mentioned before, the purchase of Crafty tokens (CFTY) implies some significant risks. Before acquiring it, the suporter must carefully consider the risks below and, as necessary, consult with an attorney, accountant, and/or tax practitioner before deciding whether to purchase a Craft token (CFTY).
I) It is possible that the value of BTC / ETH falls significantly in the future, depriving AZKLENY COMPANY S.A. of sufficient resources to continue operating.
II) The Crafty token (CFTY) will be stored in a digital wallet, which can only be accessed by the suporter. It is the sponsor’s responsibility to keep your access data secure.
III) It is important to keep in mind that any third party who has access to the email linked to the suporter may eventually have access to their Crafty token (CFTY). Supporter must be careful not to respond to any inquiry, either by email, telephone or any other electronic means, about the purchase of Crafty tokens (CFTY), including but not limited to email requests purportedly from the website http://crafty.work or a domain of similar appearance.
IV) Crypto-currencies have been the subject of regulatory initiatives by various regulatory agencies around the world. AZKLENY COMPANY S.A. and its affiliates may be impacted by one or more regulatory standards, inquiries or regulatory measures, which could prevent or limit AZKLENY COMPANY S.A ability to continue to develop its solutions.
V) The supporter acknowledges that the Crafty platform is currently under development and may undergo significant changes prior to release. Supporter acknowledges that any expectation as to the form and functionality of the Crafty platform owned by the suporter may not be fulfilled after its launch for any reason, including a change in the design and implementation and implementation plans for the implementation of the Crafty Platform.
VI) Advances in code hacking, or technical advances such as the development of quantum computers, could pose a risk to crypto-coins, which could result in theft or loss of Crafty tokens. To the extent possible, AZKLENY COMPANY S.A. intends to update its protocols to incorporate best practices and additional security measures, but can not in any way anticipate the future of encryption or the success of any security updates.
VII) As in other crypto-coins, the Crafty blockchain used for its mobile platform is susceptible to mining attacks, including, but not limited to, so-called “double-spend attacks”. Any successful attack on the Ethereum or Crafty network poses a risk to the Crafty Platform and its operations.
VIII) The loss or destruction of a private key issued by AZKLENY COMPANY S.A. and used to access it may be irreversible. Loss of access to Crafty and your private keys or data loss related to Crafty may adversely affect the value of your platform.
1.4. Important considerations
This document should not and can not be considered as an invitation to enter into an investment. It does not constitute or relate in any way and should not be considered as an offer of securities in any jurisdiction.
This document does not include or contain any information or indication that could be considered as a recommendation or that could be used as a basis for any investment decision.
Craft Tokens (CFTY) are just utility tokens that can be used on the Crafty platform or partners and are not intended to be used as an investment.
The offer of Crafty tokens (CFTY) on a trading platform is made to allow the use of the Crafty platform and not for speculative purposes. The offer of Crafty tokens on a trading platform does not change the legal qualification of the tokens, which remain a simple means of using the Crafty platform and are not a security.
The Crafty company should not be considered as a tool that is based on advising the user on any legal, fiscal or financial matters.
Any information in this document is provided for general information purposes only and Crafty makes no warranty as to the accuracy or completeness of this information. Crafty is not a financial intermediary under Uruguayan law and is not required to obtain any authorization for anti-money laundering purposes.
The acquisition of Crafty tokens (CFTY) shall not grant any right or influence over the organization and governance of AZKLENY COMPANY S.A. to the Supporters.
Regulatory authorities are carefully scrutinizing business and operations associated with cryptography in the world. In this regard, regulatory measures, investigations or actions may affect AZKLENY COMPANY S.A. business and even limit or prevent it from developing its operations in the future.
Any person who commits to acquire Crafty tokens must be aware of AZKLENY COMPANY S.A. business model, technical document or that the terms and conditions may change or need to be modified due to new regulatory and compliance requirements of any applicable law in any jurisdiction . In that case, supporters and any person who commits to acquire Crafty tokens (CFTY) acknowledge and understand that AZKLENY COMPANY S.A. or any of its affiliates shall be liable for any loss or direct or indirect damage caused by such changes.
AZKLENY COMPANY S.A. will do its best to launch its operations and develop the Crafty platform.
Any company that acquires Crafty tokens (CFTY) acknowledges and understands that AZKLENY COMPANY S.A. does not provide any guarantee that it will be able to achieve it. They acknowledge and understand, therefore, that AZKLENY COMPANY S.A.(including its bodies and employees) assumes no responsibility for any loss or damage resulting from or related to the inability to use Crafty tokens (CFTY), except in case of intentional misconduct or gross negligence.
The purchase of Crafty tokens (CFTY) is not permitted to resident or non-resident citizens as well as Green Card holders from the United States of America or citizens or residents of the Republic of Singapore.
No regulatory authority has examined or approved any of the information set forth in this document. The publication, distribution, or disclosure of this document does not imply that the applicable laws, regulations or rules have been previously approved or consented to.
1.5. Guarantees
By participating in the collective financing, the supporters agree to the above, and in particular:
• with full content and agree to be legally bound by them; supporters are authorized and have full power to purchase Crafty tokens in accordance with the laws that apply in their home jurisdiction;
• that living in a jurisdiction that allows AZKLENY COMPANY S.A. to sell Crafty tokens (CFTY) through a secure collective financing platform without requiring any local authorization;
• that they are familiar with all relevant jurisdictions on which they are based and that the purchase of cryptographic tokens in that jurisdiction is not prohibited, restricted or subject to any additional conditions of any kind;
• that they will not use collective funding for any illegal activity, including, but not limited to, money laundering and terrorist financing;
• that have sufficient knowledge of the cryptographic tokens nature and have significant experience, capable of dealing with the complexities of technology that involves blockchain-based cryptographic tokens, currencies, systems, and services;
• that have purchased or will buy Crafty tokens (CFTY) because they wish to have access to the Crafty platform;
• that are not buying Crafty tokens for investment or speculative purposes.
1.5.1. Obligation to determine if the suporter may purchase CFTY in its Jurisdiction.
The initial Crafty tokens offer refers to the sale and is made in accordance with Uruguayan law. Such sale is conducted by AZKLENY COMPANY S.A., an Uruguayan company.
Each potential supporter is responsible to determine whether they can legally purchase tokens under the laws of their jurisdiction.
