ºÚÁÏÊÓƵ

All Countries
Crypto
Nft Contract

Nft Contract Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Nft Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Nft Contract

"I need an NFT Contract under Nigerian law for my upcoming digital art collection launching in March 2025, which will include 1,000 unique pieces with a 5% royalty on secondary sales and specific commercial usage rights for holders."

Celebrated by
Collaborations with
Investors
Document background
The NFT Contract serves as a crucial legal framework for transactions involving non-fungible tokens in Nigeria. This document is essential when creating, selling, or transferring NFTs, particularly in contexts where clear documentation of digital asset ownership and rights is required. The contract addresses specific requirements under Nigerian law, including compliance with the Cybercrimes Act, SEC digital asset regulations, and relevant financial services laws. It includes detailed provisions for smart contract implementation, intellectual property rights, royalty structures, and transfer mechanisms. The document is designed to protect all parties involved in NFT transactions while ensuring regulatory compliance in the Nigerian digital asset market. This NFT Contract is particularly important given the growing adoption of blockchain technology and digital assets in Nigeria, providing a secure legal foundation for these innovative transactions.
Suggested Sections

1. Parties: Identification of the contracting parties including the NFT creator/seller and buyer

2. Background: Context of the NFT creation and sale, including the nature of the digital asset

3. Definitions: Definitions of technical terms, including 'NFT', 'Smart Contract', 'Blockchain', and other relevant terminology

4. NFT Creation and Minting: Details of the NFT creation process, including the blockchain platform and smart contract specifications

5. Rights Granted: Specific rights being transferred to the buyer, including usage rights, display rights, and any restrictions

6. Intellectual Property Rights: Clarification of IP rights in the underlying work and the NFT itself

7. Transfer and Payment Terms: Terms of the transfer, including payment method, cryptocurrency specifications if applicable, and transfer mechanics

8. Representations and Warranties: Warranties regarding ownership, originality, and compliance with laws

9. Regulatory Compliance: Compliance with Nigerian laws including SEC regulations and anti-money laundering requirements

10. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes

Optional Sections

1. Royalty Terms: Used when implementing ongoing royalty payments for secondary sales

2. Platform-Specific Terms: When the NFT is to be sold on a specific marketplace platform

3. Commercial Rights: When granting specific commercial exploitation rights to the NFT owner

4. Environmental Impact: When addressing environmental concerns related to blockchain energy consumption

5. Community Benefits: When including specific benefits or rights for the NFT community

6. Fractional Ownership: When the NFT can be fractionally owned by multiple parties

7. Smart Contract Upgrade Rights: When reserving rights to upgrade or modify the smart contract

Suggested Schedules

1. Technical Specifications: Detailed technical specifications of the NFT, including smart contract address and token standards

2. Digital Asset Details: Detailed description and representation of the digital asset linked to the NFT

3. Royalty Structure: Detailed breakdown of royalty calculations and distribution mechanisms

4. Platform Terms: Terms and conditions of the chosen NFT marketplace platform

5. KYC/AML Requirements: Detailed compliance requirements and procedures

6. Transfer Protocol: Technical protocol for executing the NFT transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

































Clauses


































Relevant Industries

Digital Art

Entertainment

Gaming

Technology

Financial Services

Media and Communications

Sports

Real Estate

Fashion

Music

Collectibles

Digital Commerce

Blockchain Technology

Creative Industries

Relevant Teams

Legal

Compliance

Technology

Digital Assets

Creative

Business Development

Risk Management

Product Development

Innovation

Intellectual Property

Finance

Operations

Relevant Roles

Digital Asset Manager

NFT Artist

Blockchain Developer

Legal Counsel

Compliance Officer

Smart Contract Engineer

Digital Rights Manager

Project Manager

Creative Director

Chief Technology Officer

Digital Asset Curator

Intellectual Property Lawyer

Cryptocurrency Specialist

Digital Content Creator

Business Development Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Nft Contract

A Nigerian law-governed contract for NFT creation, sale, and transfer, incorporating local digital asset regulations and compliance requirements.

find out more

Nft Escrow Contract

A Nigerian law-governed agreement establishing escrow arrangements for NFT transactions, ensuring secure transfer and regulatory compliance.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.