# Citizenship NFT Cancellation and Refund Policy By [Figment](https://paragraph.com/@fgmnt) · 2022-04-29 --- **Figment is offering a full refund guarantee on direct primary sales of Citizenship NFTs within 60 days of purchase. We are confident about the Citizenry we are building and that our Citizens will feel the same.** If you accept our offer for a Figment Citizenship NFT and find that it's not a perfect fit, submit a cancellation request by email to [hey@figment.live](mailto:hey@figment.live) from the registered email address and a Figment team member will be happy to help you through the process. For avoidance of doubt, all secondary market sales (i.e. from another Figment Citizen) are excluded from this Cancellation and Refund Policy. In order to process your request sent by email, we ask you to provide the following information: a brief comment explaining why you would like to cancel your Citizenship, your Citizenship ID Number, email address, ETH wallet address, your name or pseudonym, the original offer email and other identity verification and/or authentication information. This data will help us to easily identify your Figment Citizenship and cancel your Citizenship as quickly as possible **Cancellation request.** You may cancel your Citizenship within 60 days of primary market purchase directly from Figment. For avoidance of doubt, all secondary market sales (i.e. from another Figment Citizen) are excluded from this Cancellation and Refund Policy. Cancellation will take effect within 7 days of receipt of your request in each case provided that the request was made in accordance with these cancellation instructions. We will confirm the cancellation of your Citizenship within 3 business days after receipt of your cancellation request. **Refund request.** At Figment, we offer a 60-day money back guarantee according to the terms described herein. If you cancel your Citizenship in accordance with this Policy within 60 calendar days of purchasing your Citizenship NFT(s) directly from Figment, we will, upon your written request, refund the entire purchase price within 30 calendar days. The refund will be processed through the same method as the original payment. Any gas transaction fees for the refund shall be borne solely by you. We reserve the right to reject your refund request if you demonstrate a pattern of repeated registrations for Citizenship NFTs followed by cancellation and request for refund, we may, in our sole discretion, withhold further registrations and/or refuse further refund. **Frequently Asked Questions** **Why allow refunds in the first place?** _Protected Floor Prices_ There’s no reason for a Figment Citizen to sell below mint during the refund period as they can always request a refund. _Low Risk Purchase_ If the NFT buyer doesn’t like how the project is going they can return their NFTs and receive a refund. _Greater Accountability_ Evaluate the Figment Team’s promises and see how we handle the citizenry during the refund period. **What would likely happen to the NFT project post-mint?** There are three scenarios our project is expected to face post mint: 1. The floor price is far above the mint price. For example, the mint price was 0.5 ETH and the floor price is now 1.0 ETH. There’s no reason to refund as you can sell on secondary markets for a higher price instead. 2. The floor price is around the mint price. For example, a mint price of 0.5 ETH and a floor price of 0.55 ETH. In this case it may make sense to refund if you don’t believe in the project. This isn’t a bad thing as Figment would like to recruit Citizens who believe in our longer-term vision of building a country in the cloud. 3. The floor price is far below the mint price. Many projects mint out and within a week their floor is half the mint price. This is unlikely to happen for our project. Instead of crashing the collection floor price, flippers can return the NFT to the Figment team. This is extremely healthy for the project. **What happens when a Citizenship NFT is returned?** The NFT is returned to the [Figment Treasury](https://etherscan.io/address/0x147398f2CcBB480179A8da8aF95C95C1ac2fBD58) account. **Doesn’t Figment need the funds in the smart contract for development?** Figment does not need immediate access to additional funds to build out our roadmap with our current reserves. We are more focused on the long term potential of our vision of building the first ever country in the cloud. **Why not trustlessly encode the refund policy into your smart contract like ERC-721R?** Refund policies already exist everywhere in Web2.0 and they function perfectly well especially for organisations like Figment with a proven track record and fully doxxed team. We also believe encoding our smart contract directly reduces flexibility in setting the terms of the refund for future Citizenship Applications. **Can I receive a refund off of a secondary market transaction not directly from the Figment Treasury?** Only primary direct sales from our Citizenship Application and sold directly from the Figment Treasury address (0x147398f2CcBB480179A8da8aF95C95C1ac2fBD58) will qualify for a full refund. If you have purchased your Citizenship NFT from an existing Citizen on the secondary market you will **not** qualify for a refund. _For any other questions, please drop us an email at_ [_hey@figment.live_](mailto:hey@figment.live)_._ --- *Originally published on [Figment](https://paragraph.com/@fgmnt/citizenship-nft-cancellation-and-refund-policy)*