ASM is a creative project: a clothing and art brand, digital wearables for your character and a game. ASM items are made for fun and self-expression. This page explains, in plain words, what ASM items are not and what can go wrong when you use a blockchain. Please read it before you buy, claim or open anything. Words such as "ASM item", "wallet" and "Mainnet" mean what the "Words we use" table on the About ASM page says.
1. ASM items are collectibles, not investments
- You buy an ASM item to wear it, show it and play with it: in the Wardrobe, on your profile and in the Offline District.
- Don't buy ASM items expecting to make money. We don't promise, and don't expect, that any item will keep or gain value. An item may be worth nothing to anyone else.
- An ASM item doesn't give you a share in ASM, a say in how ASM is run, a right to ASM's income, or any promise of future payments or benefits.
- Words such as "rare", "Legendary", "Mythic", "Super Rare" and "limited" describe how often an item appears or how many exist. They are not a statement about price or value.
- We don't buy items back, and we don't run or support a market price for them.
- Nothing ASM says or posts, on the site, on X, on Discord or anywhere else, is financial, investment, tax or legal advice. If you need advice, speak to a qualified adviser.
2. Reselling is up to you
- You can sell or give away most ASM items on the XRP Ledger, for example on xrp.cafe. Those sales happen between you and the buyer, on services ASM doesn't run.
- There may be no buyer, or only a buyer at a low price.
- A 7% royalty goes to ASM on resales (see the Digital Collectible Purchase Terms).
- You're responsible for any tax on your own sales.
3. Staking is not live
The Staking page describes an idea that is not live. Nobody can enrol, lock or deposit anything, and no rewards are paid. The calculator on that page is an illustration only, not a promise. If ASM ever runs a rewards programme, it will have its own terms, published before it starts, and nothing will happen without your own choice to join.
4. Your wallet is in your hands
- You use your own self-custody wallet (Xaman or Joey). ASM never holds your keys or your XRP.
- If you lose your secret key, seed or recovery phrase, or someone steals it, nobody can get your items back: not you, not us and not the wallet app.
- ASM will never ask for your secret key, seed or recovery phrase. Anyone who does is a scammer.
- Check every request in your wallet before you approve it: the amount, the destination and the network.
5. Blockchain transactions are final
- When you approve a transaction and the XRP Ledger confirms it, it can't be reversed. That includes payments, offer acceptances, transfers and burns (such as opening a crate).
- If you send XRP to the wrong address, or approve something by mistake, we can't undo it.
- The XRP Ledger is public. Anyone can see your wallet address, what it holds and its transactions, forever. See the Privacy Policy.
6. Things outside our control
- XRP's price in rand and other currencies changes all the time. An item priced in XRP can cost more or less in rand from one day to the next.
- The XRP Ledger, wallets and marketplaces are run by others. They can be slow, go down, change their rules or fees, or stop working.
- Ledger rules such as reserves (the XRP your wallet must keep aside for each NFT page or open offer) are set by the XRP Ledger, not ASM, and can change.
- IPFS stores the artwork and descriptions of ASM items. If the files stop being available, an item may not show its picture in some apps, although the token stays in your wallet.
- Laws and regulations about crypto assets and digital collectibles are changing in South Africa and around the world. A change in the law could affect what ASM can offer, or where.
- Software has bugs. The Services are new and still being built. A bug, outage or attack could delay a delivery, show the wrong information or stop a feature working for a while.
7. The Services are a work in progress
- Parts of the Services are labelled beta, closed beta, preview, coming soon or Testnet. They can change, break or be removed.
- Testnet items and Testnet XRP have no value and may be reset at any time. Testnet items don't move to Mainnet.
- We'll try to keep the items you own usable in ASM experiences, but we can't promise that every item will work in every future version of the game or Wardrobe.
- If ASM stops running the Services, your items stay in your wallet on the XRP Ledger, but the ASM website, Wardrobe and game may no longer be available to use them in.
8. Where you live
ASM is run from South Africa. Some countries restrict digital collectibles, crypto assets or items with random contents such as crates. You're responsible for checking that you're allowed to use the Services and buy ASM items where you live.