FAQs

What are the official links for Universe NFT?

You can only purchase a Universe NFT at universenft.live or on secondary sales at OpenSea - The official collection links are below, any other links are not official.

https://opensea.io/collection/universe-paco-rabanne 

https://opensea.io/collection/fondation-vasarely-universe

How do I check if I am on the allowlist?

 

Connect your wallet as usual - you will receive a notification if you are on the Allowlist. If you think you should be on the allowlist and aren’t - DM Selfridges Twitter account. If not, please revisit the site for public sale April 27, 1pm GMT

What are NFTs?

 

NFT stands for ‘non-fungible token’: a one-of-a-kind digital asset that exists on the blockchain and cannot be replicated. NFTs take many forms – digital artwork, virtual apparel and music are some of the most common..

How do NFTs work?

 

NFTs are essentially a unit of data, stored on a digital ledger that is associated with ownership of a digital asset. An NFT can be music, art, videos and lots more – to create an NFT you take these files and ‘mint’ them to the blockchain.  Each NFT has a smart contract (which decides the qualities and terms of the NFT)  and each has a unique digital identifier - which means that each NFT has a single verified owner- making counterfeiting impossible. 

How can I purchase a Universe NFT?

 

For the purchase of an Universe NFT you will need a crypto wallet. A wallet can be created free of charge, quickly and easily.

What is a crypto wallet?

 

A crypto wallet is like a digital purse, although it isn’t just for holding cryptocurrencies; it can also store digital collectibles like NFTs that you might want to buy, sell, trade, transfer to someone else or to another wallet of your own.

What crypto wallets can I use for Universe NFTs?

 

When it comes to NFTs, popular wallets that connect to NFT marketplaces like OpenSea include MetaMask or Coinbase Wallet- both of which work with  Ethereum and Polygon blockchains.

MetaMask is a popular choice for NFT traders to send and receive their cryptocurrencies,  tokens, or NFTs.

How do I choose and download a wallet?

 

Select the wallet you want to install, for example MetaMask. The next step is to install it and set up an account. MetaMask can be downloaded as an app or set up as a browser extension that can connect to sites that incorporate blockchain technology.

How do I register a wallet?

 

To register a wallet with the provider MetaMask, please follow the steps below.For the use of MetaMask, we recommend the use of the Google Chrome browser.

- You can install it on your PC/Mac here: https://www.google.com/chrome

- Click on the following link to visit the MetaMask website: https://metamask.io/index.html

- Click on download and choose if you want to install the wallet on your PC/Mac (download Chrome) or mobile via your IOS-based mobile phone (iPhone) or mobile via your Android-based mobile phone.

- Click on Install and Add to Chrome and on Add Extension.

- After the extension is installed, click on "Get Started".

- Click on "Create a Wallet" to register a new wallet.

- Choose if you want to share your usage data with MetaMask (consent is optional).

- Create a password for MetaMask (this should contain at least 8 letters/characters), confirm the terms of use and click on Create.

- After this step you will get information about your recovery phrase. Important! Write down your recovery phrase. The order of the 12 words is also important.

- Confirm your recovery phase by listing the words in the correct order.

What is a recovery phrase?

 

A recovery phrase or seed phrase consists of 12 words that are created when you create your wallet, it is the master key for your wallet and should not be shared with anyone.

If you lose your password for your account, you can only regain access to your account with your seed phrase.

Can I pay with cryptocurrency?

 

Yes, you can pay for Universe NFTs in Wrapped ETH on Polygon(WETH). WETH is Wrapped ETH on Polygon Mainnet - the blockchain that Universe NFTs is built on.

Why Polygon?

 

For the sale of Universe NFTs, we use Polygon which is an Ethereum sidechain, with very low energy consumption.  What's more - this energy system is constantly being improved. Polygon has become the blockchain of choice for global fashion brands such as Adidas, Prada and Dolce & Gabbana.

How do I switch to the Polygon Network?

 

Universe NFT sales are on the Polygon blockchain.  Most wallets have a Mainnet Ethereum address as the default. You will need to enable the Polygon network – if you’re using a Coinbase wallet, select Polygon as the ‘Active Network’;

For MetaMask follow these steps:

- Go to https://polygonscan.com/ and click 'Add Polygon Network' at the bottom of the site

- Click 'Approve' then 'Switch Network'

- Once you complete the steps above, you should see the 'Matic Mainnet' in your MetaMask dropdown menu in the browser extension

Can I pay on a Credit Card?

 

Universe has partnered with MoonPay, a financial technology company that builds payments infrastructure for crypto. Universe NFT is using MoonPay’s industry-first NFT Checkout solution, which allows the purchase of NFT’s instantly with a credit or debit card.

What are the fees for purchasing a Universe NFT?

 

The purchase of a Universe NFT is subject to the current standard gas fees required for the transaction. You can see the price of the gas fees due before you buy the NFT. Customers using NFT checkout, will have their gas costs covered by MoonPay. Gas is paid in MATIC.

How do I fund my wallet with WETH / Ethereum on Polygon?

 

Through MoonPay you can purchase Wrapped ETH (Polygon) directly via credit card or Apple Pay and purchase your NFT with cryptocurrency. To purchase Wrapped ETH (Polygon), go to https://www.moonpay.com/ and select "Ethereum (Polygon)". Purchase desired amount and purchase your NFTs

How do I convert ETH to WETH on Polygon?

 

If you have Ethereum in your wallet that you want to wrap into Polygon (WETH) you will need to switch to the Polygon Network and ‘bridge’ it - this can take around 7-8 mins https://wallet.polygon.technology/bridge/

Can you cancel a purchase of the Universe NFT?

 

Normally, as a consumer, you can revoke so-called distance contracts within 14 days and thus reverse the purchase transaction. For technical reasons, this does not work for immediately executable transactions in the blockchain, so we have designed the purchase in such a way that, as a result, you waive your legal right of withdrawal.

Is the purchase process secure?

 

The purchase is as secure as any other transfer in the crypto world, as long as the passwords and the safephrase of the wallet are handled very responsibly.

What do you do with the Universe NFT?

 

Keep your NFT in your wallet - this proves you were the owner of the first ever (genesis) NFT drop for Selfridges, Paco Rabanne and Vasarely.  Universe Utility NFTs which can be redeemed for physical goods subject to terms and conditions.

Where and how can you view your Universe NFT?

 

After the purchase, the NFT is in your  wallet and can be viewed on NFT galleries such as OpenSea. To view the contents of the wallet, simply enter your wallet ID in the NFT gallery.

How do you register at OpenSea?

 

No registration is necessary to view the purchased NFTs at OpenSea. By connecting your wallet to the site you can automatically view the NFTs at: https://opensea.io

How long do you own an NFT for?

 

Once you have bought one of the Universe NFTs, it is permanently yours and stored in your wallet until you decide to sell it.

What is an “Airdrop”?

 

An airdrop is when you are ‘gifted’ something in your crypto wallet - holders of specific tokens / NFTs can be rewarded in the future with these bonus items. If you hold a Universe NFT - you will automatically be eligible for airdrops of Paco Rabanne Haute Couture metaverse wearables of varying rarity levels - more to be revealed!

Can you also resell an NFT?

 

Yes, once the NFTs are in your own wallet, they can be sold again on other platforms and markets such as OpenSea.

What happens if you want to sell your NFT?

 

Thanks to Polygon technology, an integration into platforms like OpenSea is easily possible.

From each resale on the part of a (also later) purchaser of the Universe NFT (secondary sale / revenue sharing), we at Universe receive 10% of the net purchase price automatically by transferring the corresponding amount of cryptocurrency into our Universe NFT wallet or another wallet kept in our name. Of this 10% the proceeds are split between technical teams and the brand which the NFT originates from. Please also refer to our T&Cs.

I have received a DM on Discord - is this from Universe NFT?

 

There is no associated Discord with this collection - please be aware of any such messages - there are many scam accounts in circulation

Are NFTs a cryptocurrency?

 

The value of crypto assets and cryptocurrency can rise or fall and we recommend seeking independent financial advice before making any purchase. Cryptocurrency is unregulated in the UK. The profits from crypto asset sales may be subject to capital gains or income tax.

Will the price of my NFT go up?

 

The value of crypto assets and cryptocurrency can rise or fall and we recommend seeking independent financial advice before making any purchase. Cryptocurrency is unregulated in the UK. The profits from crypto asset sales may be subject to capital gains or income tax.

Where can I find out more information?

 

Please keep an eye on the Selfridges Twitter page for any updates in real time relating to the sale of Universe NFTs