Satoshi's Lounge is a Loot NFT Co LLC product, which is operated as an e-commerce site. Some items may be fulfilled by third-party vendors that Loot NFT contracts with to perform specific tasks such as shipping and handling and the administration of procurement, delivery, and the like.
1. All items are sold for Loot Tickets (LTT), and all purchases are final from the time of purchase. There are no refunds or replacements as all items are limited edition or unique. All manufacturers or brands listing their products on Satoshi's Lounge must execute a contract of non-reproduction, which is blockchain notarized.
2. LTT are only sold for USDC platform credits by members of Loot Arena (also known as miners). Sales of LTT are final, non-refundable, and transactions are non-reversible.
3. All items are first listed for auction for 24 hours with a reserve price in LTT. Any bids at or higher than the reserve price when the timer expires pays for and receives the item. A bid received in the last 30 seconds resets the timer back to 30 seconds. Only the highest bidder pays for and receives the item. Shipping and handling costs are additional and vary based on where the item is being shipped.
4. All customers of Satoshi's Lounge must perform a know-your-customer check (KYC) before the shipment of items purchased on Satoshi's Lounge. This does not apply to products that are wholly used within the Loot NFT ecosystem.
5. To the fullest extent permissible by the law, customers shall have no claim against Loot NFT Co LLC over the bidding process, purchases of items, damage, or other defects of products sold, delays in obtaining LTT, or delays in shipment and other shipping issues, and or other matters in relation to transactions contemplated or consumed on Satoshi's Lounge.