An NFT, or non-fungible token, is a digital asset that represents ownership of a unique item or piece of content, such as artwork, music, videos, or collectibles. Unlike traditional digital assets, such as JPEGs or MP3s, which can be easily replicated, NFTs are unique and cannot be replaced or exchanged on a one-to-one basis.
NFTs are created using blockchain technology, which is the same technology that powers cryptocurrencies like Bitcoin. A blockchain is a digital ledger that records every transaction that occurs on its network. Each NFT is represented by a unique code, or “token,” that is recorded on the blockchain, making it easy to verify ownership and provenance.
One of the key benefits of NFTs is that they allow artists and creators to monetize their work in new ways. With traditional digital assets, it can be difficult for creators to control how their work is used and to earn royalties for its sale. With NFTs, creators can sell their work as one-of-a-kind, digital collectibles that can appreciate in value over time.
NFTs are also creating new opportunities for collectors and investors. With NFTs, collectors can own a digital piece of art, music, or video that is truly unique and cannot be replicated. And because NFTs are recorded on the blockchain, their ownership and provenance can be easily verified, making them a secure investment option.
Another benefit of NFTs is that they allow for greater transparency in the art market. With traditional art, it can be difficult to know where a piece came from, or whether it has been tampered with or counterfeit. With NFTs, all transactions and ownership can be tracked on the blockchain, making it easy to verify the authenticity of a piece.
However, it is important to note that NFTs are still a relatively new technology and the market is still in its early stages. While the potential benefits of NFTs are exciting, it is important to be aware of the risks involved in investing in this emerging market. It is always important to do your own research and consult with a financial advisor before making any investment decisions.
Overall, NFTs are an exciting new technology that is changing the way we think about digital assets and ownership. They are opening up new opportunities for artists, creators, collectors, and investors and providing greater transparency in the art market. The idf3.com NFT marketplace is one of the first NFT marketplaces in the Middle East, providing a platform for artists, creators, collectors and investors in the region to participate in this exciting new technology.
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IDF3 FZCO, a company having its registered address at DSO-IFZA-19980, Dubai Silicon Oasis, United Arab Emirates (hereinafter referred to as “IDF3”, “we”, “us”, or “our”) are committed to protecting your privacy, and further determined to ensure full compliance with all relevant laws and regulations as it relates to the processing of any personal data.
This privacy policy (“Privacy Policy”), together with our Terms and Conditions (“Terms”) and any other document referenced in either of these documents, sets out the basis on which any personal data we collect from you, or that we collect about you, on our website [www.idf3.com] (“Website”), or when you communicate with us by email, telephone, or any other means as defined under the Terms will be processed by us.
1. Ensuring lawful use of your personal data
We will only use your personal data where we have a lawful basis to do so. We will usually only use your data for the following cases:
(a) Where it is necessary for us to enter into and/or perform a contract with you (for example, to create your account and provide our service to you);
(b) In a way which might be reasonably be expected as a part of running our business and which does not materially impact your interests, rights or freedoms.;
(c) To comply with our legal and regulatory obligations.; and
(d) In any case where you have provided the appropriate consent for us to use your personal data, for example, where you subscribe to our email or newsletter.
2. Information We Collect
IDF3 will only collects personal data through a lawful basis, as disclosed through this Privacy Policy. Personal data is data which identifies an individual or relates to identifiable individual: this includes information you provide to us, information which is collected about you automatically, and information we obtain from third parties (“Personal Data”).
The Personal Data we collect depends on how you interact with us, our services, and the requirements of the applicable law. Throughout your engagement with us, me may from time-to-time request, collect and store the following data, to enhance your experience or comply with relevant laws and regulations:
Personal Identification Information is data that can individually identify you, this includes:
Full name, email address, gender, home address, phone address, phone number, date of birth, nationality, signature, utility bills, photographs, and video recording.
Government Identifiable Information
Government identifiable information that is issued by a governmental body and pertains certain personal information, this includes:
Passports, Emirates ID, license, national identity cards, etc.
Financial Information
Financial Information is information that relates to your personal finances, this includes:
Bank account information, payment card information, source of funding, source of wealth.
Information from cookies
See our Cookie Policy for more information.
Biometric Information
We may collect sensitive personal information that may be able to identify your face or other biometrically unique information.
Device Interactions related Data
We collect certain data to analyze trends and make our services more tailored and useful to our users.
Publicly Available Information
Publicly Available Information is any information which has been made subject to the public domain and has been accessed lawfully without your consent.
Wallet Addresses
Your IDF3 Wallet address will be a unique address where all your digital assets will be stored. We may retain your IDF3 wallet address.
Other information necessary to run our business
So far as we are legally permitted to do so, we may collect other Personal Data, or other data for the purpose of ensuring certain functionalities with our Platform.
3. How We Use Your Personal Data
We process your Personal Data to optimize the services provided, comply with relevant laws and regulations, and personalize your experience. More specifically, we use your Personal Data for the following reasons:
a. To operate the IDF3 platform.
b. To personalize your IDF3 experience.
c. To comply with relevant laws and regulations.
d. Communicate with you.
e. Provide you with promotional or marketing materials.
f. To govern and secure our services.
g. To ensure that all Account holders remain compliant with these Terms.
We will never use your Personal Data or any other data for any purpose other than that those outlined in this Privacy Policy.
4. How We Share Your Personal Data?
We may from time-to-time disclose certain Personal Data to third party services providers, relevant governmental bodies, and other external parties. The below describes the specific of any such disclosures:
Category
Description of Disclosures
Third-Party Service Providers
We may share certain Personal Data with third-party service providers to ensure that certain services are met, to detect any unauthorized activities, to confirm your identity and warrants, to provide technical support, and to operate the Platform.
Regulatory or Legal Obligations
Irrespective of your consent, we are obliged by certain regulatory and legal provisions to process, store and share certain data with governmental bodies, periodically or upon request.
Company Affiliations or Corporate Partners
We may share certain information with any affiliates and or corporate partners if they comply with the same outlay of this Privacy Policy.
5. How do we secure your data?
The security of your Personal Data is very important to us, and we ensure that all appropriate technical, administration and operational safeguards are in place to ensure that no data breach occurs because of our processing or storage thereof.
In the event that any information get damages, or breached, IDF3 will in no way be liable thereto, however will take all appropriate measures to investigate and remedy any potential damage resulting out of such a breach.
6. How long do we keep your data?
We may retain your data for up to a period of 5 years from the time you have provided the consent, provided that such retention remains in compliance with the relevant laws and regulations. Whereas you wish for us to stop the retention of your data, kindly refer to your rights prescribed in this Privacy Policy and the Terms and Conditions.
7. Data Controls and Discretion
Excluding any restrictions imposed by law or regulation, and the internal realism regarding the execution of your decisions, you retain the right to decide the extent of Personal Data collected, when your data is deleted, and what kind of communications you are a part of.
IDF3 may periodically send you email updates, newsletter, advertisements, or other marketing materials related to any third-party service providers if you agree thereto. If at any point you wish to receive, or stop receive such emails, it will remain your discretionary right.
IDF3 collects cookies to facilitate certain functionalities on our Platform. Please see our Cookie Policy for more details.
8. Amendments to this Privacy Policy
This Privacy Policy will be subject to regular review and amendments to ensure continued compliance. IDF3 retains the right to amend this Privacy Policy at any time at its own discretion, so far as legally permitted to do so. IDF3 will do its best to ensure that any amendments made to this Privacy Policy, or any other document will be communicated to all Account holders.
9. Underage Persons
We do intentionally retain information of any person under the age of 18 years old. Any person below the age of 18 must have parental or guardian supervision throughout their engagement with the IDF3 Platform. If you believe that we have mistakenly processed any data of a minor, kindly contact us directly and we will delete such data.
10. Legal Basis for Processing Data
Depending on the jurisdiction you are engaging with the IDF3 platform from, certain legal provisions might be applicable outside of the scope of this Privacy Policy. In order to comply with this, we rely on certain legal basis outside of the UAE, including:
a. Consent: We process any Personal Data with required consent.
b. Contractual Obligations: We may process certain Personal Data to comply with contractual obligations related to our relationship.
c. Legal Interests: We may process certain Personal Data for reasons instructed by instruments of the law.
d. Regulatory Requirements: We may process certain data, contingent on your jurisdiction, due to regulatory requirements.
IDF3 warrants to always comply with our sourced purposed for processing, storing or
collecting any Personal Data.
11. Contact Us
For more information about any these Terms or any other relevant document, please contact our team directly via email [info@idf3.com] or by visiting our website at [https://idf3.com/privacy-policy/]
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