The following rules apply to the initiative being sponsored and run by Luno Pte Ltd (Luno), known as the Penny Drop Initiative, hosted on the website (the Initiative). The Initiative aims to raise awareness for cryptocurrency by sharing stories of people in the industry, as well as those who have had any contact with the cryptocurrency industry.   Without limiting the applicability of Luno’s Terms of Use and Privacy Policy, you agree to be bound by these Rules when participating in the Initiative.

  1. Eligibility. Participation in the Initiative is open to all members of the public, over the age of 18 (eighteen) years. 
  2. Agreement to Rules. By entering this Initiative, you agree to be fully and unconditionally bound by these Rules, and you represent and warrant that you meet the eligibility requirements set out above. In addition, you agree to accept any decision made by Luno in terms of these Rules as final and binding.
  3. Participating in the Initiative. To participate in the Initiative, you are required to share a video and/or image, social media post and/or blog article (the “Content”) by tagging the official Luno social media account on Twitter and/or YouTube and/or Facebook and/or Linkedin and/or Instagram and/or Pepo and/or sharing on Reddit using the hashtag #PennydropMoment that describes when you first realised that cryptocurrency and/or blockchain technology is the future of the financial system. 
  4. We may in our sole discretion disqualify entries that are incomplete, are unable to be opened or viewed or do not adhere to these Rules.
  5. Multiple entries. You may enter the Initiative many times as you like.
  6. Own content. By entering this Initiative, you warrant that your entry is your own original creation and does not infringe any third party’s intellectual property rights.
  7. Duration. The Initiative will commence on 3 February 2020  and will run until 9 March 2020. Luno reserves the right to shorten or extend the Initiative deadline in our sole discretion. 
  8. Rights Granted by You. By entering this Initiative, you grant Luno, and anyone acting on behalf of Luno, the right to utilise your Content entered into the Initiative for any purpose whatsoever, including but not limited to marketing and promotional purposes.
  9. Prizes. The aim of the Initiative is to raise awareness about cryptocurrency and strengthen the cryptocurrency community. However, following the conclusion of the Initiative, Luno may, in our discretion, award prizes to participants of the Initiative. The content of these prizes may vary, but will be notified to you should you be selected as a winner thereof. Should Luno choose to award prizes, the selection of the prize winners shall be in the sole discretion of Luno.  Winners will be contacted by email or direct message on social media, Prizes will be delivered to an address of the winners choosing. 
  10. Non-transferable. Each prize is non-transferable, cannot be refunded, and cannot be exchanged for cash or another product. If you are a winner, we may require that you verify your identity prior to us delivering your prize to you.
  11. Personal information. Any personal information provided to us for purposes of the Initiative, including but not limited to, your name, age, address (including postcode), telephone number and/or email address, will be used solely for purposes of the Initiative and in compliance with our Privacy Policy
  12. Platforms. The Initiative is independently run and funded by Luno. The Initiative is not sponsored, endorsed or administered by YouTube, Facebook, Linkedin, Instagram, Pepo or Reddit.
  13. Governing law. These Rules shall be governed by and interpreted in accordance with Singapore law and any disputes arising out of them shall be subject to the exclusive jurisdiction of the courts of Singapore.