Disclaimer

PLEASE READ THE ENTIRETY OF THIS "LEGAL DISCLAIMER" SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH.

This Documentation contains forward-looking statements that relate to Web3 Music Association (“W3M”) current expectations and views of future events. These statements may prove to be incorrect and may be influenced by inaccurate assumptions, unknown risks, uncertainties, and other factors beyond W3M's control. It is expected that some of these assumptions may not materialise or may significantly differ from actual results.

The Documentation is provided for informational purposes only and does not constitute a prospectus, advice, offer document, offer of securities, solicitation for investment, or any offer to sell any product, item, or asset in any jurisdiction. W3M and its officers, directors, advisors, agents, partners, representatives, consultants, and employees make no express or implied representation or warranty regarding the adequacy, accuracy, or completeness of the information in the Documentation or the described project.

The Documentation has not been reviewed or approved by any competent authority in any Member State of the European Economic Area or in any other jurisdictions and does not constitute a prospectus within the meaning of the capital market regulations. Prospective purchasers should make their own independent evaluation of all risk factors and should read the detailed information set out elsewhere in the Documentation. Other risks and uncertainties unknown to W3M or considered insignificant at this time could equally have a material adverse effect on the business, operations, financial conditions or prospects of W3M.

Authorization by W3M.

No person is authorised to provide any information or to make any representation not included in the Documentation, and any information or representation not contained herein must not be relied upon as having been authorised by W3M.

Changes to the Project.

The project may be updated and modified without prior notice. W3M is not obligated to update any forward-looking statements, even if they become incorrect or misleading due to new information, future events, or other circumstances. Additionally, W3M may face challenges during product development, including financial, resourcing, and technical difficulties. These difficulties are unpredictable and may be unsolvable, potentially compromising the overall project development. The project may fail, terminate, or experience delays at any time for any reason. Certain project features may never be realised, which could significantly reduce or completely eliminate the utility of $RECORD Tokens.

Legal status of $W3M Token and Project is untested.

Certain jurisdictions might apply already existing laws and regulations to blockchain technology-based projects or introduce new laws or regulations for this purpose. In particular, $RECORD Tokens may at any time be deemed to be a security, investment, asset or money by governmental authorities or regulators. This could lead to substantial modifications, termination, and/or loss of $RECORD Tokens. W3M may receive formal or informal queries, notices, requests, or warnings from governmental authorities and regulators. Regulatory action may be taken against W3M or the project.

No assets, property, governance or security right underlying $RECORD Token.

​​In particular, $RECORD Token does not represent or constitute any intellectual property rights, ownership rights or stake, shares or security, membership right or equivalent rights nor any right to receive future revenues, shares or any other form of participation or governance rights in or relating to W3M. Due to the no security right, W3M is not to be construed, interpreted, classified or treated as debentures, stocks or shares issued by any person or entity, rights, options or derivatives in respect of such debentures, stocks or shares, rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss, units in a collective investment scheme, structured products, units in a business trust, derivatives of units in a business trust.

Possible migration of the $RECORD Token.

W3M may migrate the $RECORD Token to another protocol and generate replacement tokens on the new protocol if deemed necessary or useful. In such a case, support for pre-existing tokens or any other operational matters may cease, except during the migration process.

Reliance on the Internet.

$RECORD Tokens and the project heavily rely on the internet. However, the public nature of the internet means that it may be unreliable or unavailable at any given time. Data transmission via the internet may be subject to interruption, delay, corruption, loss of confidentiality, or other issues.

Reliance on Blockchain Platform.

The $RECORD Token holders need to have sufficient understanding of the functionality, usage, storage, transmission mechanisms and other material properties of cryptographic assets, wallets and other token/asset storage mechanisms, public and private key administration, blockchain technology, and blockchain-based software systems. The $RECORD Tokenholders understand, recognize and acknowledge that such understanding allows the $RECORD Tokenholders to appreciate the implications and risks of purchasing $RECORD Token. The $RECORD Token Tokenholders understand and accept the risk that the smart contract system concept, the underlying software application, the software platform and ecosystem architecture are at an early developmental stage and yet to be proven. There are no warranties or guarantees that the process for creating $RECORD Token will be uninterrupted or error-free and there is an inherent risk that the software could hold weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of the contributed value and/or $RECORD Token.

The blockchain technology is experimental, and risks associated with reliance on it include technical flaws, malicious targeting, changes in consensus protocols or algorithms, decreased community or miner support, existence of competing networks or platforms, existence of forked versions, flaws in scripting languages, disputes, and regulatory actions.

No liabilities.

W3M, its officers, directors, advisors, agents, partners, representatives, consultants or employees will not be liable for any direct, indirect or consequential loss, or damage suffered by any person relying on any representation or omission made in the Documentation and, to the fullest extent permitted by law, all conditions, warranties and other terms which may be implied by law and any such liability are expressly excluded.

Market and industry information.

The Documentation may contain market and industry information obtained from a variety of sources, including internal surveys, reports, studies, market research, and industry publications. While reasonable efforts have been made to ensure the accuracy and completeness of this information, there is no guarantee of its reliability.

General comment on risks.

Purchasing $RECORD Tokens carries inherent risks, including but not limited to blockchain-related risks, project abandonment or lack of success, regulatory risks, and jurisdiction-related risks. These risks, and additional risks arising either now or in the future, could result in the failure of the $RECORD Tokens transfers, the destruction of the $RECORD Tokens or the utility of the $W3M Tokens, and/or the termination of the development of W3M.

There is a possibility that the purchase amount may be unrecoverable and/or that the $RECORD Tokens may cease to have inherent intrinsic value. Many factors, most of which are beyond the W3M's control, will influence the value of the $RECORD Tokens and the price, if any, at which market participants may be willing to purchase or sell $RECORD Tokens in the secondary market. The purchase of $RECORD Tokens involves the risk that subsequent changes in relative market performance may adversely affect the value of $RECORD Tokens.

IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVISOR(S).

THE DOCUMENTATION IS FOR INFORMATION PURPOSES ONLY AND MAY BE SUBJECT TO CHANGE.