Scenario: Customer has an existing stand-alone NSX deployment and is leveraging IP Sets. Recently they moved to a cross-vCenter NSX deployment and now want to use the previous non-Universal IP sets as Universal IP sets without manually creating each one. Enter PowerNSX
Here is a screenshot before the script ran, I have a few IP sets with various types of members (single IPs, ranges).
And here you see after the script has ran, it takes the same names for the IP sets and adds -Universal to the end of it (not required, they can have the same name).