Airdrop Terms
Last Revised on March 26, 2025
These Airdrop Participation Terms (“Airdrop Terms”), as well as our general Terms of Use (“OWB Terms of Use”) and Privacy Policy apply to your participation in and receipt of Clash of Coins OWB tokens (“OWB Tokens”) through the airdrop program (“Airdrop”) facilitated by OWB Studio Inc. and its affiliates (“Company,” “we,” or “us”). By participating in the Airdrop, you (“Participant”) agree to be bound by these Airdrop Terms, which expressly incorporate any other documents referenced herein and are supplemental to the OWB Terms of Use and Privacy Policy. Defined terms used but otherwise not defined herein have the meaning set forth in the OWB Terms of Use. The Airdrop, and your participation in it, is a Service as defined under the OWB Terms of Use and Privacy Policy.
These Airdrop Terms govern your ability to use our Services to participate in the Airdrop. Please read these Airdrop Terms carefully, as they include important information about your legal rights. Please also read the OWB Terms of Use and Privacy Policy carefully. If you do not understand or agree to these Airdrop Terms, the OWB Terms of Use or Privacy Policy, please do not participate in the Airdrop.
Section 35 of the OWB Terms of Use contains an arbitration clause and class action waiver. By agreeing to these Airdrop Terms, you agree to resolve all disputes related to the Airdrop through binding individual arbitration and to waive your right to participate in class actions, class arbitrations, or representative actions, as set forth in the OWB Terms of Use.
1. ELIGIBILITY, SERVICES & DIGITAL WALLETS
The Company, in its sole discretion, shall determine the eligibility criteria for participation in the Airdrop, including the amount of OWB Tokens to be distributed to eligible Participants that satisfy certain criteria. Different eligible Participants may receive different amounts of OWB Tokens, depending on the criteria set forth by the Company. The Company shall have no obligation to notify actual or potential Airdrop Participants of the eligibility criteria for any Airdrop prior to, during, or after the claims are opened for such Airdrop.
The Company reserves the sole and absolute right to disqualify any Participant or potential Participant who it deems ineligible for an Airdrop or has determined that the Participant or potential Participant engaged in any conduct that the Company considers harmful, unlawful, inappropriate, or unacceptable. Such disqualification may be appropriate if the Company determines, in its sole discretion, for example, that Participant may have used multiple addresses or accounts to obscure their identity or location or to attempt to game, cheat, or hack the Airdrop, OWB Tokens, or Services.
You must be at least 18 years of age and have full legal capacity to access and use our Services, including without limitation the Airdrop. If you are acting as an employee or agent of a legal entity and enter into the Airdrop Terms on behalf of the entity, you represent and warrant that you have all necessary rights and authorizations to do so.
The Company has implemented a risk-based program applicable to the Airdrop and any related participation or claims of tokens and/or NFT’s through its Services (“OWB Claims”). This screening program may utilize data and tools provided by third party providers (“Screening Service Provider”), applying screening criteria that may extend beyond the requirements of applicable law. OWB Claims are subject to geo-location and proxy detection controls to prevent access to our website by users that may be Prohibited Persons or located in a Prohibited Jurisdiction, as more fully defined below. The Company reserves the right to take such additional steps as it deems necessary or appropriate, in its sole discretion, to verify the identity and eligibility of any person. The Company may, in its sole discretion, deny any person access to OWB Claims based on their internet-protocol address (“IP Address”), and/or Digital Wallet address associated with the Airdrop and related Account (“Airdrop Address”), or otherwise exclude such person, IP Address, or Airdrop Address from OWB Claims.
By using the Services and participating in the Airdrop:
a. You agree and acknowledge that your Airdrop Address may be screened and excluded from OWB Claims, at the Company’s sole discretion, if we detect threshold transactions between your Airdrop Address and another Base or similar digital-asset, smart-contract, or protocol address associated with certain risk-exposure categories.
b. You agree and acknowledge that your IP Address will be screened and excluded from OWB Claims if our geo-location controls detect that you may be located in a (a) Sanctioned Jurisdiction; (b) jurisdiction subject to heightened sanctions risks identified or enforced by certain countries, governments, or international authorities; or (c) jurisdiction otherwise considered high risk with respect to the Airdrop or otherwise (collectively, “Prohibited Jurisdictions”). For the purposes of the Airdrop, the list of Prohibited Jurisdictions is expanded to include the United States of America. You agree and understand that the Prohibited Jurisdictions are subject to change from time to time at our sole discretion without notice. To avoid circumvention of our geo-location controls, the Company has implemented proxy and virtual private network (“VPN”) detection and blocking controls, which are designed to prevent access to and use of OWB Claims by any person detected to be using VPN and similar proxy technologies. The Company resolves the right, in its sole discretion, to deny access to the Airdrop and/or permanently terminate the associated Account from accessing and using the Services if use of VPN and/or similar tools and technologies is detected.
2. GENERAL TERMS
You represent and warrant that all information provided during the Airdrop process is true, accurate, and complete.
You agree and acknowledge that (i) you are responsible and liable for all taxes relating to or arising out of your participation in the Airdrop; and (ii) you should consult a tax advisor with respect to the tax treatment of Airdrop OWB Tokens in your jurisdiction.
You agree and acknowledge that you are responsible for complying with all applicable laws of the jurisdiction in which you reside or in which you are participating in the Airdrop and claiming Airdrop OWB Tokens.
You agree that you are not (i) a Prohibited Person, as defined in the OWB Terms of Use; (ii) directly or indirectly acting on behalf of a Prohibited Person; and (iii) located in or accessing the Airdrop from a Prohibited Jurisdiction.
You agree that you will not use a VPN or similar tool to circumvent any geo-blocking and/or other restrictions that we have implemented in connection with the Airdrop. Any such deliberate circumvention, or attempted circumvention, of our controls may permanently disqualify you from participation in the Airdrop and/or result in permanent Account termination, as determined in our sole discretion.
You agree and acknowledge that your participation in the Airdrop does not violate any applicable laws, including without limitation applicable economic and trade sanctions and export control laws and regulations, such as those administered and enforced by the EU, OFSI, OFAC, the U.S. Department of State, the U.S. Department of Commerce, the UN Security Council, and other relevant authorities.
You agree and acknowledge that the Company reserves the right to require additional information from you and to enter, use, or share such information into or with a Screening Service Provider or other third parties as provided in our Privacy Policy, and their systems, tools, or functionalities, as the Company deems appropriate in its sole discretion, including to reduce the risks of money laundering, terrorist financing, sanctions violations, or other potentially illicit activity, or as otherwise necessary to address laws and regulations that may be relevant to the Airdrop or the OWB Tokens. You agree to provide complete and accurate information in response to any such requests. You agree and acknowledge that the Company is not responsible and cannot be held liable for any losses, expenses, or delays resulting from inaccurate or incomplete information provided by you, and you agree to assume full responsibility for any and all risks associated therewith.
You agree and acknowledge that your participation in the Airdrop and claim of Airdrop OWB Tokens does not require or involve any form of purchase, payment, or tangible consideration from or to us, nor otherwise require or involve any acceptance of value by us from you. You agree and acknowledge that you (i) lawfully may receive OWB Tokens for free via the Airdrop (other than gas fees or applicable taxes, if any, that may be due to third parties), (ii) were not promised the OWB Tokens or any tokens whether via the Airdrop or otherwise; and (iii) took no action in anticipation of, or in reliance on, receiving the OWB Tokens or any tokens or NFT’s, the occurrence of an Airdrop, or potential participation in any Airdrop.
Your eligibility to receive Airdrop OWB Tokens or participate in the Airdrop is subject to our sole discretion. The Airdrop shall be conducted during a specified limited period, as determined by the Company in its sole discretion and announced on its website and/or social media (“Airdrop Period”). You must follow the instructions set forth in any Airdrop announcement and/or such other instructions as may be provided by the Company from time to time to participate in the Airdrop. The number of OWB Tokens allocated to each Participant will be determined by the Company, in its sole discretion, and such allocation may vary among Participants. OWB Tokens may be made available to be claimed after an initial period in which Participants can check eligibility for, but not claim, Airdrop OWB Tokens..
You agree and acknowledge that you are not entitled to receive any Airdrop OWB Tokens and/or to participate in the Airdrop based on any documentation, commentary, calculators, metrics, and/or points systems published or otherwise made known by the third parties. The Company does not review, control, monitor, or confirm the accuracy of information that may be provided by or through third parties. You agree and acknowledge that you have not engaged, and will not engage, in any activities designed to obtain Airdrop OWB Tokens, including on the basis of, or in reliance on, any third party materials and/or information.
To participate in the Airdrop, you will need to enter an eligible Airdrop Address and/or connect a compatible third-party Digital Wallet (either, an “Airdrop Wallet”). Failure to provide and connect an eligible Airdrop Wallet may result in the forfeiture of OWB Tokens. There may be technical limitations, delays, and/or transaction fees due or payable to third parties, such as gas fees on Base transactions, to receive and/or claim OWB Tokens through your Airdrop Wallet.
You agree and acknowledge that you are the legal owner of the Airdrop Wallet that you use to access or participate in the Airdrop and the Services, and that you will not sell, assign, or transfer control of such Airdrop Wallet, or the OWB Tokens received through the Airdrop, to third parties to circumvent any OWB lock-up period or to knowingly redistribute OWB Tokens to a person, IP Address, or Airdrop Address that would violate these Airdrop Terms if claimed directly by such person, IP Address, or Airdrop Address.
By using an Airdrop Wallet, you agree that you are using the Airdrop Wallet in accordance with any terms and conditions of an applicable third-party provider of such Airdrop Wallet. Airdrop Wallets are not maintained or supported by, or associated or affiliated with, the Company. When you interact with the Airdrop or other Services, as between the Company and you, you retain control over your digital assets at all times. We do not control digital assets, including the OWB Tokens, in your Wallet, and we accept no responsibility or liability to you in connection with your use of Airdrop Wallet. We make no representations or warranties regarding how the Airdrop or other Services will operate with, or be compatible with, any specific Airdrop Wallet. The private keys necessary to access and/or transfer the digital assets held in an Airdrop Wallet are not known or held by the Company. Any third party that may gain access to Participant’s login credentials, private key, or third-party cloud or storage mechanism for such information may be able to misappropriate OWB Tokens and/or other digital assets held by Participant. The Company has no ability to help you access or recover your private key and/or seed phrase for your Airdrop Wallet. As between you and the Company, solely you are responsible for maintaining the confidentiality of your private key, and solely you are responsible for any transaction signed with your private key. The Company is not responsible for any loss associated with the Participant’s private key, Airdrop Wallet, vault, or other storage mechanism
You agree and acknowledge that if you are unable to claim the Airdrop due to technical bugs, smart contract issues, gas fees, Airdrop Wallet incompatibilities, loss of access to a wallet or the key thereto, or for any other reason, you will have no recourse or claim against the Company or any Company Entity. In any such cases, neither the Company nor any Company Entity will bear any liability.
You agree and acknowledge that claiming the Airdrop may require interaction with, reliance on, or an integration with third-party products or services (e.g., a Digital Wallet or a network or blockchain) that we do not control. If you are unable to access such products, services, or integrations, or if they fail for any reason, and you are unable to participate in the Airdrop or claim OWB Tokens as a result, you will have no recourse or claim against us or any Company Entity; and neither we nor any Company Entity bear any responsibility or liability to you.
You agree and acknowledge that your participation in the Airdrop is at your own risk. You agree and acknowledge that you have carefully reviewed, read, and understood the non-exhaustive list of Risk Factors below.
Without limiting any terms in the OWB Terms of Use, including but not limited to Section 30 therein, you agree that you shall defend, indemnify, and hold the Company Entities harmless from and against any and all claims, actions, proceedings, investigations, demands, suits, costs, damages, losses, liabilities and expenses (including attorneys’ fees and costs, and fines or penalties imposed by any regulatory authority) incurred by the Company Entities arising out of or in connection with: (i) your use of, or conduct in connection with, the Airdrop; (ii) your breach or our enforcement of these Airdrop Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party. If you are obligated to indemnify any Company Entities hereunder, then you agree that the Company (or, at its discretion, the applicable Company Entities) will have the right, in its sole discretion, to control any action or proceeding and to determine whether the Company wishes to settle, and if so, on what terms, and you agree to fully cooperate with the Company in the defense or settlement of such claim. Your obligations under this indemnification provision will continue even after these Airdrop Terms have expired or have been terminated.
3. DISCLAIMERS; LIMITATION OF LIABILITY AND INDEMNIFICATION
There is only one website for OWB Claims, which is the following: clashofcoins.com/token/claim. Do not trust any other website regardless of its source or origin or any link routing you to a different website.
Use of the website for OWB Claims and participation in the Airdrop is at the risk of the Participant. The Services are provided on an “as is'” and “as available” basis. The Company expressly disclaims all warranties of any kind, whether express, implied, or statutory, including the implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.
The Company makes no warranty or representation that the Airdrop or the Services will meet your requirements or be uninterrupted, timely, secure, or error-free. The Company makes no warranty or representation that the results that may be obtained from access to or the use of Services will be accurate or reliable or that the quality of any products, services, applications, information, or other material purchased or obtained by you through the Services will meet your expectations.
By accessing and using the Airdrop or the Services, you represent and warrant that you (i) understand the risks inherently associated with using cryptographic and blockchain-based systems and (ii) have a working knowledge of the usage, storage, and intricacies of digital assets, such as those, like OWB Tokens. You further represent that you understand that markets for digital assets are highly volatile due to various factors, including adoption, speculation, technology, security, and regulation. You acknowledge and accept that the cost and speed of transacting with cryptographic and blockchain-based systems, such as Base, are variable and may increase or decrease dramatically at any time. You acknowledge and accept the risk that your digital assets may have no value or lose some or all of their value during the Airdrop Period, any OWB lock-up period, or after. You understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent certain projects, entities, or people, and you acknowledge and accept the risk that you or others may mistakenly seek to claim or trade those or other tokens. You acknowledge that the Company is not responsible for any of these variables or risks and cannot be held liable for any resulting losses that you experience, including losses while accessing or using the Airdrop or the Services. Accordingly, you understand and agree to assume full responsibility for all risks of accessing and using the Airdrop and the Services.
You expressly understand and agree that the Company will not be liable for any indirect, incidental, special, consequential, exemplary damages, or damages for loss of profits, including damages for loss of goodwill, use, or data or other intangible losses (even if the Company has been advised of the possibility of such damages), whether based on contract, tort, negligence, strict liability, or otherwise, resulting from: (i) the use or the inability to use the Airdrop or the Services; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information, or services purchased or obtained or messages received or transactions entered into through or from the Airdrop or the Services; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the Services; (v) interruption or cessation of function related to our interface or website; (vi) bugs, viruses, trojan horses, or the like that may be transmitted to or through the interface or website; (vii) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the interface or website; or (viii) any other matter relating to the Airdrop or the Services.
All information provided on the website or through the Airdrop or the Services, or otherwise provided by the Company, is for informational purposes only and is not and should not be construed as professional advice. You should not take, or refrain from taking, any action based on any information contained on the website or obtained through the Airdrop or the Services. Before you make any financial, legal, tax, or other decisions with respect to the Airdrop or the Services, you should seek independent, professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.
These Airdrop Terms are not intended to, and do not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in these Airdrop Terms.
You have reviewed with your professional legal and other advisors and agree with the Disclaimers, Limitations of Liability, and Indemnification provisions in the OWB Terms of Use..
4. MISCELLANEOUS PROVISIONS
Entire Agreement
These Airdrop Terms and the OWB Terms of Use contain the entire agreement between you and the Company regarding the Airdrop and supersede all prior and contemporaneous understandings between the parties regarding the Airdrop.
Modification
We may modify these Airdrop Terms from time to time in which case we will update the “Last Revised” date at the top of these Airdrop Terms. The updated Airdrop Terms will be effective as of the time of posting, or such later date as may be specified in the updated Airdrop Terms. Your continued access or participation in the Airdrop after the modifications have become effective will be deemed your acceptance of the modified Airdrop Terms..
Severability
If any term, clause, or provision of these Airdrop Terms is held to be illegal, invalid, void, or unenforceable (in whole or in part), then such term, clause, or provision shall be severable from the Airdrop Terms without affecting the validity or enforceability of any remaining part of that term, clause, or provision, or any other term, clause, or provision in the Airdrop Terms or the OWB Terms of Use, which will otherwise remain in full force and effect. Any invalid or unenforceable provisions will be interpreted to affect the intent of the original provisions. If such construction is not possible, the invalid or unenforceable provision will be severed from the Airdrop Terms, but the rest of the Airdrop Terms will remain in full force and effect.
No Waiver
No waiver by the Company of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. Any act by the Company to exercise, or failure or delay in exercising of, any of its rights under these Terms, at law or in equity will not be deemed a waiver of those or any other rights or remedies available in contract, at law or in equity.
Assignment
These Airdrop Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you without our prior express written consent, but may be assigned by us without restriction. Any attempted transfer or assignment in violation hereof will be null and void.
How to Contact Us
You may contact us regarding the Airdrop or these Terms by e-mail at contacts@clashofcoins.com.
5. RISK FACTORS
Claiming, using, transacting in, holding, and/or purchasing or selling the OWB tokens involves a high degree of risk, including unforeseen risks that may not be included below. You should consult with your legal, tax, and financial advisors and carefully consider the non-exhaustive list of risks and uncertainties described below, together with all of the other information in these Airdrop Terms, before deciding whether to claim, use, transact in, hold, purchase, or sell the token. If any of the following risks were to occur, the Token or Clash of Coins Experience could be materially and adversely affected.
References in this non-exhaustive list of Risk Factors to (i) the “Clash of Coins Experience” refers to the unique gaming experience via the Game, Services and other related experiences through the combination of traditional core game and blockchain mechanics, (ii) the “Token” or “OWB” refers to the OWB token used as the native currency within the Clash of Coins Experience, and (iii) “Website” refers to any front-end or web interface that the Company may host, including https://clashofcoins.com and any subdomain.
There is only one website for OWB Claims, which is the following: clashofcoins.com/token/claim. Do not trust any other website regardless of its source or origin or any link routing you to a different website.
Risks Relating to the OWB Token
a. No Market for the Token. There is no public market for OWB, and the Company does not control the development of such a market. A public market may not develop or be sustainable, and you may not be able to sell your OWB Tokens. Furthermore, the Company cannot control how OWB holders or third-party exchanges or platforms may support OWB, if at all. Even if a public market for OWB develops, such a market may be relatively new and subject to little or no regulatory oversight, making it more susceptible to fraud or manipulation.
b. Illiquidity. There may be significant restrictions on the transferability of your OWB Tokens. The transfer restrictions on your OWB Tokens may remain in place for a significant period of time. Even if a public market does eventually exist, you may not be able to freely sell or transfer your OWB Tokens. If you can freely sell your tokens in a public market after some period of time, the depth and volume in that market may be insufficient for you to sell without substantial price concessions.
c. Adverse Activities in Secondary Markets. Secondary market activities that are beyond the control of the Company could develop that are adverse to your ability to use OWB Tokens. Even with significant transfer and vesting restrictions intended to support long-term alignment with the Clash of Coins community, significant concentrations in OWB positions are present and may continue to be present among a relatively small group of OWB holders, or worsen, exposing you to significant risks of volatility, exits of large OWB holders or other correlated secondary market activities. These risks will be considerable following expiration of the lock-up period applicable to certain OWB holders, including Company service providers and recipients of OWB allocations.
d. Experimental Features and Uses. OWB Tokens may be upgradeable to have experimental features and uses. Future features and uses may prove not to be valuable, usable, or viable, and contributors may fail to adequately research and develop any such upgrades. Under current plans, and over time, the Company may not have the ability to effectuate upgrades to implement new features and use cases. Such upgrades may be adopted with security flaws or with unexpected or harmful changes that are adverse to your ability to use your OWB Tokens.
Risks Related to Legal and Regulatory
a. Evolving Laws and Regulations. There is significant risk surrounding the ongoing development of regulatory frameworks governing blockchain technology all over the world, including in the United States and the EU, and as the blockchain, crypto, and web3 industry continues to grow, the Company expects regulatory scrutiny to increase across jurisdictions. The Company or the Clash of Coins Experience or OWB Tokens may be found to be subject to certain laws or regulatory regimes that could adversely impact you, the Clash of Coins Experience, or OWB Tokens. Additionally, laws or interpretations may change and the Company or the Clash of Coins Experience or OWB Tokens may be subject to new or changed laws or regulations in the future. Any restrictive or prohibitive legislation or regulation on blockchains or digital assets could impair the adoption of the Clash of Coins Experience and/or the use of OWB Tokens and adversely affect market sentiment surrounding the Clash of Coins Experience and/or OWB Tokens. To the extent licenses, permits, or other authorizations are required in one or more jurisdictions in which the Clash of Coins Experience or the Website is deemed to operate, there is no guarantee that the Company or another party will be able to secure such licenses, permits, or authorizations for the Clash of Coins Experience or the Website to continue to operate. Significant changes may need to be made to the Clash of Coins Experience to comply with any licensing and/or registration requirements, or any other legal or regulatory requirements, in order to avoid violating applicable laws or regulations or because of the cost of such compliance. Uncertainty in how the legal and regulatory environment will develop could negatively impact the development, growth, and utilization of the Clash of Coins Experience and therefore the uses of OWB Tokens.
b. Third-Party Illegal Activity. The Clash of Coins Experience and OWB Token may be exploited to facilitate illegal activity including fraud, money laundering, gambling, tax evasion, sanctions evasion, and scams. If any third party uses the Clash of Coins Experience or OWB Tokens to further such illegal activities, that and the legal and regulatory consequences of those activities could negatively impact the development, growth, and utilization of the Clash of Coins Experience. While we do not control the activities of the Clash of Coins Experience users, the use of the Clash of Coins Experience for illegal or improper purposes could subject us, the Clash of Coins Experience, or OWB Token holders to claims, individual and class action lawsuits, and government and regulatory investigations, prosecutions, enforcement actions, inquiries, or requests that could result in liability and reputational harm for us, the Clash of Coins Experience, and/or the OWB Token holders. Certain activities that may be legal in one jurisdiction may be illegal in another jurisdiction, and certain activities that are at one time legal may in the future be deemed illegal in the same jurisdiction. In the event that a Clash of Coins Experience user is found responsible for intentionally or inadvertently violating the laws in any jurisdiction, the Company, Clash of Coins Experience and/or you and other OWB Token holders may be subject to governmental inquiries, enforcement actions, prosecution, or held secondarily liable for aiding or facilitating such activities in researching and developing, or deploying, software that enabled such activities, being a platform on which such activities occurred, or being a member of a group that otherwise has liability with respect to such activities.
c. Sanctions Violations. The Company, the Clash of Coins Experience, or OWB Token holders could be deemed to be violating or facilitating the violation of applicable economic and trade sanctions and export control laws and regulations, such as those administered and enforced by the U.S. Department of the Treasury’s OFAC, the U.S. Department of State, the U.S. Department of Commerce, the UN Security Council, and other relevant authorities. Such laws and regulations prohibit or restrict certain operations, investments, services, and sales activities, including dealings with certain countries or territories (e.g., sanctioned countries), and governments, and persons (including sanctioned entities). Although the Company does not enter into contracts or agreements with sanctioned entities or persons located in sanctioned countries, it may not be able to entirely prevent such persons from seeking to interact with the Clash of Coins Experience, OWB Tokens, and/or OWB Token holders, including by circumventing the Company’s controls. Abuses of the Clash of Coins Experience and failures or alleged failures to comply with such laws and regulations may expose the Clash of Coins Experience, Clash of Coins Experience Users, the Company, and/or OWB Token holders to reputational harm as well as significant penalties, including criminal fines, imprisonment, civil fines, disgorgement of profits, injunctions and debarment from government contracts, as well as other remedial measures, and could negatively impact the development, growth, and utilization of the Clash of Coins Experience and market sentiment around OWB Tokens.
d. Tax Treatment of Digital Assets. Due to the new and evolving nature of digital assets and the absence of comprehensive legal guidance with respect to digital asset transactions, the taxation of digital assets is uncertain, and it is unclear what guidance may be issued in the future on the treatment of digital asset transactions for tax purposes. Guidance under, or changes in, the tax laws applicable to of digital assets, including OWB Tokens, or the Company and/or its activities and transactions, either directly or through subsidiaries, could adversely impact the value of OWB Tokens or your ability to use or engage in certain types of transactions with OWB Tokens. The Company or its subsidiaries may also have tax reporting obligations in various jurisdictions with respect to Airdrop of OWB Tokens. You should consult a tax advisor with respect to the tax treatment of Airdrop OWB Tokens in your jurisdiction.
Operational Risks
a. Competition. The Clash of Coins Experience and the Company compete against a variety of existing products and platforms as well as likely new entrants into the market. Some of these current or future competing products may be subject to different regulatory regimes than the Company, the Clash of Coins Experience, or OWB Tokens that may facilitate broader or faster adoption such that they can outcompete the Clash of Coins Experience. Alternatively, other competitors may exercise different amounts of control over the products they design that allow for faster or broader adoption. Additionally, competitors may develop more successful products, applications, or tokens for a variety of other reasons, including but not limited to designing a more friendly user experience, offering more compelling incentives, attracting more developers and users, creating a more sustainable economic design, or taking a more permissive view of applicable law.
b. Security Weaknesses or Attacks. Cyberattacks and security breaches of the Website or the Clash of Coins Experience or OWB Tokens, or those impacting the Clash of Coins Experience users or third parties such as decentralized applications or crypto wallets that interact with the Clash of Coins Experience or OWB Tokens, could cause you to lose OWB Tokens, or adversely impact the Clash of Coins Experience or OWB Tokens. The Clash of Coins Experience could be vulnerable in a variety of ways, including but not limited to malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing, exploitable code, or any number of other currently known or novel methods of exploit. Additionally, as mentioned above, upgrades or changes to the Clash of Coins Experience or OWB Tokens could introduce new vulnerabilities to the Clash of Coins Experience or OWB Tokens or otherwise have unintended or malicious adverse effects on the Clash of Coins Experience and/or OWB Tokens. The Clash of Coins Experience and smart contracts generally execute automatically when certain conditions are met and typically cannot be stopped or reversed, so any vulnerabilities that may arise can have significant adverse effects to the Clash of Coins Experience, OWB Tokens, and holders of OWB Tokens. Further, any actual or perceived breach or cybersecurity attack directed at crypto companies or blockchain networks, whether or not the Clash of Coins Experience is directly impacted, could lead to a general loss of user confidence in the crypto-economy or in the use of blockchain technology to conduct transactions, which could negatively impact the Clash of Coins Experience, including the market perception of the effectiveness of security measures and technology infrastructure. Digital assets are generally controllable only by the possessor of a unique public and private key pair. To the extent your private key for your Digital Wallet is lost, destroyed, or otherwise compromised and no backup of the private key is accessible, you will be unable to access the tokens held in such wallet. Any OWB Tokens that are custodied, managed, escrowed, or supported by a third party, may be subject to a security breach, cyberattack, or other malicious activity, or otherwise lost or stolen. Such an event could severely impact you and your OWB holdings and your ability to use OWB Tokens.
Miscellaneous Risks
a. Unanticipated Risks. Cryptographic tokens and blockchain-based protocols are new and untested technologies. OWB Tokens, as well as the Clash of Coins Experience and its design concepts, smart-contract mechanisms, algorithms, codes, and other technical details and parameters may be updated and changed. In addition to these risks, there may be other risks associated with your claiming, using, buying, transacting in, and/or holding OWB Tokens, including those which we cannot anticipate or have not specifically enumerated here. Such risks may further materialize as unanticipated variations or combinations of the risks discussed above. Further, new risks may be created as the Clash of Coins Experience and OWB Tokens are developed (including by parties other than us) or third parties which integrate OWB Tokens or the Clash of Coins Experience into their products. No person, including the Company has an ability or obligation to keep Participants informed of details related to development of the Clash of Coins Experience or OWB Tokens.
b. Fraudulent Websites. Some users have been targeted and/or have reported fraudulent websites, emails, text messages, and social media handles, often including embedded or published links, impersonating projects, persons, entities, or service providers of or associated with the Company for the purpose of defrauding users, stealing their digital assets, or otherwise unlawfully profiting from such activities. These fraud and theft risks may materialize in connection with OWB Claims, and you should remain extremely cautious about websites, emails, text messages, and social media handles, as well as any embedded or published links, that direct you to websites or to take actions, especially connecting to your Digital Wallet.