Metagigs Professional Exchange Program Terms of Use
Effective Date: August 14, 2024
Last Updated: August 14, 2024
IMPORTANT NOTICE: Metagigs is currently in technology preview (alpha) and is not in full production mode. Software and process bugs and missing or broken functionality is to be expected. While in this stage, MINORS ARE NOT ALLOWED TO USE THE METAGIGS PLATFORM. We will remove this notice and make an announcement once this restriction is lifted.
The Metagigs Professional Exchange Program (also known as MPEX) is a program that allows Metagigs Sellers (or “Pros”) to exchange their earned Pro Coins (“Earned Tokens”) for real money. While any qualified user can use Metagigs to offer to fulfill Orders on behalf of fellow players, only successful Pros will be able to meet the high requirements (described below) to earn money through MPEX. Reaching and keeping this level of success typically requires a lot of time, effort, skill, and strategy. Even then, there is no guarantee of earning money.
1. Acceptance of Terms
Below are the terms and conditions that govern MPEX (“the MPEX Terms”). These MPEX Terms are part of the Metagigs Terms of Use, which define some of the capitalized words used below. You must agree to the Terms of Use, which include these MPEX Terms, to participate in MPEX.
2. MPEX Eligibility Requirements
Eligibility to participate in MPEX is solely up to Metagigs, and the requirements may be changed by Metagigs at any time by updating the MPEX Terms. To participate in MPEX you must meet all the following minimum requirements (“the MPEX Eligibility Requirements”):
a) Be at least 13 years of age or older;
b) Have at least 20,000 Earned Tokens in your account;
c) Have a Metagigs-verified email address;
d) Have a valid and active Metagigs Pro Subscription with a valid Metagigs user Account;
e) Have an IRS form W-9 (for U.S. taxpayers) or W-8 (for non-U.S. taxpayers) on file with Metagigs;
f) Comply with the Ongoing Service Requirements for Pros (described below); and
g) Be in complete compliance at all times with the Metagigs Terms of Use, which include these MPEX Terms and the Metagigs Community Standards. By way of example, the following will disqualify you from MPEX: scamming, phishing, false advertising, attempting to exchange Earned Tokens for real currency other than through MPEX, and any illegal or unethical activities.
3. Amount eligible to cash out
Metagigs will determine how much you are eligible to Cash Out by totaling the amount of Earned Tokens (over the lifetime of the account) and subtracting the amounts previously paid out to you through MPEX and any Earned Tokens you spent on or through the Services.
4. Eligible Earned Tokens for Cash Out
Eligible Tokens only include Earned Tokens you have earned as a Pro in complete compliance with the Metagigs Terms of Use, which include the Metagigs Community Standards, while fulfilling Orders for other fellow players through the Metagigs Service. Tokens are not transferable. Tokens acquired in any other way are not eligible for Cash Out.
5. Ongoing Service Requirements for Pros
To participate in MPEX, you must meet the “Ongoing Service Requirements for Pros,” which are to provide an on-going services that complies with the Metagigs Terms of Use, including the Metagigs Community Standards, and any instructions you receive from Metagigs. As part of this requirement, you must do the following:
a) Work with Metagigs and Metagigs Users to resolve any issues or disputes involving the Metagigs Terms of Use and Metagigs Community Standards, or the fulfillment of an Order;
b) Update your service offerings and content for security and technical reasons and ensure your services and content comply with Metagigs’s latest technical and security updates and best practices; and
c) Assist Metagigs upon request with legal requirements, such as removing content that has been accused of violating copyright laws.
6. Cash Out
A “Cash Out” is an option to exchange your Earned Tokens for U.S. dollars at the “Current Exchange Rate for Cash Out” set forth below, which rate is subject to change at any time by Metagigs by updating the MPEX Terms. If you satisfy all the MPEX Eligibility Requirements, Metagigs will decide in its sole discretion whether to offer you a Cash Out and how much you are eligible to receive in a Cash Out. Under normal circumstances, a Cash Out will total the amount of Eligible Earned Tokens you obtained over the lifetime of the account minus all Earned Tokens previously exchanged by you through MPEX and any Earned Tokens you spent on or through the Services. The following additional limitations apply to Cash Outs:
a) The Current Exchange Rate for Cash Out is $0.001 U.S. Dollars per Earned Token.
b) You are not allowed to initiate a Cash Out more than once a month.
c) Eligibility to Cash Out is reviewed after you submit a request to Cash Out.
d) When you initiate Cash Out, Metagigs will perform a close review of activities on your account to confirm that you earned the tokens in compliance with the Terms of Use and Metagigs Community Standards. We are not able to predetermine your eligibility for Cash Out.
7. Acknowledgements and Further Agreements
In order to participate in MPEX, you further acknowledge and agree to the following:
a) Clicking the “Cash Out” button does not guarantee that you are eligible to, in fact, Cash Out. When you click that button, Metagigs will then determine whether you meet the MPEX Eligibility Requirements and whether to provide a Cash Out at Metagigs discretion.
b) Prior to any payments being made, Metagigs requires you to have an IRS form W-9 (for U.S. taxpayers) or W-8 (for non-U.S. taxpayers) on file with us. All payments made to U.S. users (other than for certain limited exceptions due to reporting requirements) will be reported to the IRS and to you using a form 1099. Payments made to non-U.S. users will not be reported to their home countries.
c) Transaction fees are assessed on each payment (which will be paid from any amounts that would otherwise be owed to you hereunder). These fees are charged by our financial provider (Metagigs does not assess any fees in addition to those charged by our provider), and vary depending on payment method chosen.
d) Special Transaction Fees may be assessed during your first Cash Out (and periodically thereafter, if and as required by law), to account for our compliance costs and obligations which may include, without limitation, KYC, AML, fraud detection, background checks, and similar assurances, at our discretion. Special Transaction Fees, if any, will be clearly displayed to you before you initiate a Cash Out.
e) You are responsible for any taxes that may be owed due to a Cash Out. Metagigs considers the Cash Out payments to be payments for the services you have provided. All participants (whether you live in the US or elsewhere) are responsible for ensuring that all payments received are reported to the proper taxing authorities. Income that Minors earn can impact their parents’ tax returns.
f) We are not able to remit payments to certain countries, entities, or individuals because of legal or other considerations. But we are currently able to make payments to MPEX participants in many different countries. Please contact us to determine if your country is supported.
g) If your Metagigs account is inactive (i.e. no authenticated sessions on the Metagigs platform) for a period of two and a half years or more, your account will be considered inactive and ineligible to participate in MPEX, and you will need to re-apply should you wish to participate again.
h) Metagigs reserves the right to modify, amend, or cancel the MPEX Program, add, remove, or modify the MPEX Eligibility Requirements, and change the Current Exchange Rate for Cash Out, all at any time and for any reason by updating the MPEX Terms. The existence of the MPEX Program today in no way creates an obligation for us to continue the program in the future, nor does it guarantee that Earned Tokens can be exchanged in the future. We reserve the right to review activity on accounts to assess the validity of Earned Token balances, and to deny payment to any user that we feel has violated the terms or the spirit of our program, including but not limited to these MPEX Terms, the Metagigs Terms of Use, and the Metagigs Community Standards.