Refinable is the first major NFT marketplace and platform built on Binance Smart Chain (BSC) that empowers creators and users to create, discover, trade, and leverage NFTs. The project and its token FINE is one of the hottest topics recently and for new crypto investors, there are plenty of questions without answers.
Refinable and FINE token has the potential to become the crypto start-up of the year and that’s why everyone is so interested. How to invest in Refinable is one of the most asked questions recently. We must admit that there is a huge hype around it, so be extra careful with your money.
NFT market is growing and obviously, the Refinable crypto team doesn’t want to miss out on it.
Let’s take a deep dive into the Refinable NFT marketplace and its FINE token. We are going to answer the most frequent questions including:
- Where to buy Refinable?
- How you can buy FINE token?
- Is Refinable a scam?
- What is the price of FINE token?
What Is Refinable (FINE)
Refinable is an NFT marketplace on Binance Smart Chain backed by Binance and the American YouTuber Mr. Beast.
The ticker for Refinable is FINE.
What is Binance Smart Chain
Binance Smart Chain is a blockchain that was developed as an alternative to Ethereum because of the high transaction fees on the Ethereum blockchain. BSC has become very popular among crypto users.
Binance Smart Chain was launched in September 2020.
As you can see on the chart above (source: bscscan.com) the number of transactions on the Binance Smart Chain rapidly increased during February, March, and April 2021.
What is an NFT Marketplace
An NFT Marketplace is a marketplace for NFT, Non-Fungible Tokens.
NFT is a type of cryptographic token based on blockchain technology. Each NFT represents a unique identifier that can be linked to any physical or digital good. NFTs represent unique asset ownerships.
In 2020 alone, the NFT market tripled to $250+ million while the number of active wallets nearly doubled.
Refinable NFT Marketplace
Refinable NFT marketplace is the first-ever Polkastarter IDO that was launched exclusively on Binance Smart Chain (BSC) on 23 April 2021.
“We are thrilled to make the Polkastarter platform available to the Binance Smart Chain community. Refinable’s BSC-exclusive IDO is the first step into bringing more projects into the thriving BSC ecosystem. We will continue to innovate the decentralized funding landscape while improving the experience for our projects and users,” said Polkastarter Co-Founder & CEO Daniel Stockhaus.
What is Polkaster?
Polkastarter is a fully decentralized protocol for launching new ideas. Our curation process and industry access enable us to offer the best new projects in blockchain and digital assets. With Polkastarter, decentralized projects can raise awareness, build a loyal community, and receive long-term support. Users of the platform will be able to participate in a secure and compliant environment and use assets both in and beyond the current ERC20 standard.
What problem does Refinable solve?
Here is the current status of the NFT market and some of the highlights.
- Network gas prices are high and it prevents users from broader usage and experimentation.
- Limited resources for support NFT marketplaces.
- NFT marketplaces have a lot of technical issues.
- High commission fees.
The biggest complaint that developers have about operating on the Ethereum blockchain is the high transaction costs. Refinable’s move to build its platform on the Binance Smart Chain can reduce those transaction costs and speed up transaction times.
Refinable aims to create a user-friendly platform for creators and brands to engage with NFT content.
Refinable is decentralized and non-custodial.
The daily transaction volume has increased by nearly eight-fold since February, within less than three months.
The public BETA platform is officially ready and will be launching around mid-May. The public BETA launch will be available to professional and aspiring artists from all over the world.
- No-Code Decentralized P2P Marketplace
- Ultra-Low Transaction & Commission Fees
- Limitless Creation & Distribution Options
- Multiple Settlement Currencies
- Customized Royalties
- NFT Content Agnostic
- Community Moderation & IP Protection
- Commercial & Non-Commercial Rights
Partial ownerships of NFTs will be possible on Refinable and will provide extra liquidity on secondary markets.
Comparison and Alternatives
What are the alternatives to Refinable? What other projects are into NFT markets?
- Binance NFT (coming in June 2021)
Refinable Marketplace Fees
Refinable introduced its marketplace fees structure. Verified Token Holders have a significant discount. Refinable’s vision is to provide the NFT marketplace with low service fees. The fees for buyers and sellers are somewhere between 1,5% to 2,5%.
$FINE Token Listing on PancakeSwap
PancakeSwap is one of the most well-known exchanges on the Binance Smart Chain
The FINE token is a native token that powers the Refinable NFT marketplace. It’s also a utility token and governance token. Its primary features are:
- Settle and fund transactions
- Platform perks
- Community governance
Staking Fine token gives users perks on the marketplace:
- Discounted service fee
- Priority listings and exposure
- Increased rarity and royalty limits
- More tagging allowance
- Early access to presales
Users that staking FINE token will have a right to vote on proposals and moderate platform content.
FINE Token Distribution
- Date: April 23rd 2021
- Initial Token Price: $0.033 / $FINE
- Total supply: 500,000,000 $FINE
FINEnable will support both ERC721 and 1155 standards.
|Token Sale||20.49%||Public Sale: 100% unlocked
Private Sale: 25% on TGE, linearly over 9 months
|Community Mining||20%||1.5% on TGE, then 1.5% every month|
|Team||10%||1 year lockup then 20% every 3 months|
|Treasury Fund||35%||10% on TGE, 3% every month|
What does Refinable bring to creators?
- Licensed IP collections
- Custom rarity
- Flexible royalties
- NFT bundles
- Content agnostic
- Privileged files
- Secondary tokens
- Custom metadata & logic
FINEnable is open to all content types from 2D images to 3D models, internet domains to music albums.
Refinable FINE Price and Chart
Updated on 6th May 2021
Refinable was planned to launch at $0.33, but the hype caused it to skyrocket at above $8. There was almost an immediate dump and the price of FINE went down below $2.
Several people think that MrBeast and the founders of Refinable were setting up a “pump-and-dump” scheme. Lots of crypto investors complain that they lost a lot of money.
The first few days of trading new tokens are always very risky. We could see a similar trend during the ALICE token and Tokocrypto.
How to Buy FINE
If you would like to know where to buy Refinable, the top exchanges for trading in Refinable are currently:
- PancakeSwap (V2)
- DODO BSC
Etherereum transaction fees have been skyrocketing due to massive activities in other blockchain projects, causing the average users to pay upwards of $30 – $60 for creating or transacting an NFT token.
Everyone is able to earn FINE tokens via a public sale event. You can get FINE tokens via swapping on PancakeSwap.
Also, users (creators, traders) that have contributed most to the platform by volume, will be awarded every two weeks. Refinable calls it community mining.
Moreover, every user will be able to earn FINE tokens by completing various activities such as profile competition, user invites, community engagement, and many others.
- Testnet Launch
- Smart Contracts (ERC721, ERC1155)
- Wallet integrations
- Token sale
- Public Security Audit
- Mainnet launch
- Token Generation Event
- Community Mining
- Creation and Trade Features
- Token Staking
- Flexible Royalties
- Governance Portal
- Additional Trade Currencies
- Public Profile Verification
- Social Features
- Community Moderation
- Metaverse Integration
- Social Channels
- Mobile Support
Frequently Asked Questions
What is the ticker for Refinable?
The ticker is FINE.
How to buy Refinable token FINE?
The most favorite way to buy the FINE token is via PancakeSwap (updated 6th May 2021). Refinable might be listed on some major exchanges in few months.
What is the Refinable crypto price today?
Are you looking for a Refinable crypto price? Check the chart above.
What is the launch date for Refinable?
Refinable was released on Binance Smart Chain on 23 April 2021. The public BETA platform will be launching around mid-May 2021.
Is Refinable a Scam?
Right after token IDO, the price went high from $0.33 to $9. The immediate buy order was executed at the price of $8 and above, as many crypto investors said. Probably thousands of investors were ready at the launch day and the exact time ready to buy the FINE token. Unfortunately, that pushed the price very high.
After few minutes the price went down and it stopped below two dollars. No doubt, that many crypto investors complain that it is a scam because they lost a lot of money.
To be honest, the price craziness is nothing new in the crypto space and every investor must consider that risk.
After our research Refinable seems like a legit blockchain start-up that focuses on the NFT marketplace. Surely, that there was and still might be a price manipulation from big players. On the other hand that’s just a crypto market and it is very hard to avoid that in projects that are favorite even before they release a beta version. And Refinable is one of them.
Nick Chan, Co-founder
6+ years in product and operations management for corporates and SMEs across hospitality, media, and e-commerce. Previously launched a 3D fashion development platform and marketplace at Li & Fung. Currently unlocking the e-commerce potential within NFT transactions.
Maxim Geerinck, Co-founder
Software engineer with 9+ years of experience. Was responsible for building experimental projects at EY and supporting their start-up/scale-up division. Completed multiple projects in the Crypto industry, including liquidity staking platforms, portfolio trackers. Serial Entrepreneur and CTO.
Jonas Snellinckx, Development
Full-stack software engineer with notions of design and devOps. Worked in several start-ups and companies to unlock new potential with enterprise blockchain, IoT, and distributed applications. Excited about the potential of web3 and in love with the crypto space since 2017.
- Adam Lee, Development
- Tom Ploem, Development
- Michael Lodzik, Development
- Kristof Saelen, Design
- Nicholas Au, Operations
- Michael Gu, Advisor
- Elvin Cheung, Advisor
- Albert Chen, Advisor
Refinable is backed by two major investors, Mr. Beast, an American YouTuber, and Binance Exchange, the world’s leading cryptocurrency exchange.
Moreover, Refinable was also invested by:
- AU21 Capital
- Double Peak
- SMO Capital
- GBV Capital
- Joseph Young
- x21 Digital
Refinable official channels that we went through and used them also as a resource for our review.
- Website: https://refinable.co/
- Telegram Official: https://t.me/RefinableAnn
- Telegram Chat: https://t.me/refinablenft
- Twitter: https://twitter.com/refinableapp
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make the best efforts to choose high-quality coins, but will not be responsible for your trading losses.
DYOR: Do your own research