Fanstake Collective Boosts Terms of Service
Date of Last Revision: November 10th, 2024
These Collective Boost Campaign Terms of Services (“Collective Terms”) govern a Collective Account’s participation in the Collective Boost Program(“Program”). These Collective Terms form a part of the Fanstake Collective Terms of Service (“General Collective Terms”) which are incorporated herein and made a part hereof. Unless the context requires otherwise, all capitalized terms used, but not defined herein, shall have the meanings set for in the General Collective Terms. By participating in or creating a Campaign (as defined in Section 2) on the Platform, you agree to these Collective Terms which govern the creation, execution, and outcomes of the Campaigns.
1. Eligibility.
Only registered and verified Collective Accounts on the Platform may create a Campaign.
2. Overview
A Collective Account’s boost campaign allows a Collective Account to enhance the impact of Stakes for Selected Athletes during a defined promotional period (“Campaign”). The features of a Campaign are as follows:
- • 2.1 Customizable Multiples: Collective Accounts may offer Stakes at predetermined multiples (e.g., 2X, 3X, 4X), amplifying the monetary value of the Stakes (“Boosted Stake”).
- • 2.2 Athlete-Specific and Non-Transferable: Boosted Stakes apply only to the Selected Athlete for the Campaign and cannot be transferred to other athletes or campaigns.
- • 2.3 Time-Limited: Campaigns are restricted to the dates specified by the Collective Account.
- • 2.4 Non-Refundable: The funds associated with a Campaign (“Campaign Funds”) are non-refundable and are subject to the outcome of the Boosted Stake pursuant to Section 4 below.
3. Creating a Boost Campaign
3.1 Campaign Setup: Collective Accounts must specify the Campaign duration, the Selected Athletes, and the applicable Boosted Stake multiplier at the time of Campaign creation.
3.2 Approval: All Campaigns are subject to review and approval by Fanstake, in its sole and absolute discretion, before launch to ensure compliance with Platform policies.
3.3 Finality of Terms: Once a Campaign is launched, the Campaign terms, including multiplier, duration, and Selected Athlete, cannot be modified.
4. Boosted Stake Conversion
4.1 Successful Conversion. If the Selected Athlete selects the school associated with the Boosted Stake by making a public announcement or otherwise notifying Fanstake of their Formal School Selection, Fanstake will endeavor to enter into an NIL Contract with the Selected Athlete to endorse Fanstake. The Boosted Stake will be applied to the available endorsement dollars for the Selected Athlete in accordance with Fanstake’s NIL Contract policies.
4.2 No Conversion. If the Selected Athlete does not choose the school associated with the Boosted Stake, Fanstake will credit the Boosted Stake amount to the Collective’s Account within ten (10) days of the Selected Athlete’s Formal School Selection.
4.3 No NIL Contract. If the Selected Athlete selects the school associated with the Boosted Stake but chooses not to enter into an NIL Contract with Fanstake, Fanstake will credit the Boosted Stake amount to your Account within ten (10) days of the latter of: 1) the Selected Athlete’s rejection of the NIL Contract or 2) Fanstake’s determination that the Selected Athlete will not enter into an NIL Contract. You will be notified of these events, as applicable, on your Fanstake dashboard.
5. Fan Participation
5.1 Transparency: Fans will be clearly informed of the Boosted Stake multiplier and the terms of the Campaign at the time they make their Stake.
6. Limitations and Responsibilities
6.1 Campaign Compliance: Collective Accounts are responsible for ensuring Campaigns comply with all applicable NIL regulations, university policies, and Platform guidelines.
6.2 Financial Responsibility: Collective Accounts are solely responsible for funding the Boosted Stake multiplier amount in the event of successful conversion, and Fanstake will deduct Campaign Funds in $1000 increments through the Platform.
7. Dispute Resolution
7.1 Binding Decisions: All decisions regarding Boosted Stake outcomes, Boosted Stake conversions, and Campaign compliance made by Fanstake are final and binding.
7.2 Disputes: Notwithstanding the “Pre-Arbitration Dispute Resolution; Required Notice to Us” provisions in Section 19 of the General Collective Terms, any disputes arising from Campaigns must be submitted in writing to Fanstake at supprt@fanstake.com within thirty (30) days of the Campaign’s launch.
8. Termination and Suspension
8.1 Program Suspension or Termination: Fanstake may suspend or terminate the Program at any time and in our sole discretion.
8.2 Campaign/Account Suspension or Termination: Fanstake may, in our sole discretion, suspend or terminate any Campaign or Collective Account for: (a) violation of these Collective Terms, (b) violation of the General Collective Terms, or (c) failure to comply with applicable regulations.
9. Disclaimer
Fanstake is not liable for any financial or reputational losses incurred by Collectives as a result of Campaigns, including unsuccessful Boosted Stakes or Campaign outcomes.
10. Contact
For questions regarding these Collective Terms, please contact Fanstake Support at support@fanstake.com.
