Terranova Picks: Refinable, Empowering NFT Creators
3 min readThe market for non-fungible tokens (NFTs) is one of the biggest successes in the blockchain.
NFTs are currently gaining traction in the art world, as they provide artists with a better way to represent and present their work. However, the big stage for NFT is the digital game world.
In 2020, for example, gaming spending accounted for $127 million. Meanwhile, the cumulative sales volume of NFT games exceeded $55 million for the same period. Only here, it’s possible to see how such a fledgling market had so much traction and how it can still develop.
Regardless, we cannot forget that every platform at the beginning of its journey goes through difficulties, and with NFTs, it is no different. One of the main problems in this environment is the lack of communication between creators, traders, and collectors. Also, there is still a lack of trust in transactions.
However, we know that the blockchain market does not stop. Where there is pain, there is a remedy to cure it. This is where Refinable steps in.
Get to Know Refinable
Refinable is the first major NFT marketplace on Binance Smart Chain (BSC). It empowers both individual creators and beloved brands to easily and affordably create, discover, trade, and leverage NFTs.
The project enables individual creators and large companies to access the NFT marketplace easily. Moreover, it allows users to trade any high-value items with confidence on its platform.
Since it is built on BSC, Refinable can take advantage of a fast-growing network in the ecosystem and still have an easier time finding new partners. It should be noted that the choice to use Binance Smart Chain means that Refinable has no problem with high minting costs or gas fees. In other words, the platform is in the perfect place at the perfect time.
By leveraging NFT’s provable scarcity and transferability, Refinable provides its users with an intuitive and no-code trading experience for all digital goods. With this, the platform creates the perfect junction for amateurs and professionals to trade NFTs.
Product Viability
Since Refinable’s goal is to empower all NFT creators on its platform, it has developed ways to make products viable. It has done this through:
- The definition of unique or limited custom scarcity.
- The definition of flexible royalties on product creation to receive secondary sales.
- By bundling of existing NFTs to create a new NFT unit.
- Through customized and extended preview options for your tokenized content.
- With a preview of NFT lists of any form of support for all file types.
- By storing private files that will not be previewed openly but only unlocked in full for the current owner.
Token Ecosystem
Fine is the utility token of the Refinable platform. It was designed as an active BEP20. Fine will provide several benefits to its holders. These include:
Priority listings and discovery
Listings from users with verified token holders will receive increased exposure and listing priority at marketplace Refinable.
Increased minting limits and TX limits
Creators verified with FINE tokens will also have higher limits when issuing and distributing their content.
Discounted platform service fee
Verified token holders are also entitled to lower service fees when trading on the platform.
Early access to presales
Holding verified tokens will also enable early access to item presales, exclusive drops, and special listings from the community and the Refinable team.
Community moderation and voting
Verified token holders can also participate in the moderation panel and proposal voting for the Refinable platform by voting with FINE. The more FINE a user holds, the more voting power they will have.
Verified token holders can also participate in the moderation panel and proposal voting for the Refinable platform by voting with FINE. The more FINE a user holds, the more voting power they will have.
Refinable is furthering the benefit of NFTs for both creators and traders. Often decentralized networks are inaccessible to those unfamiliar with blockchain technology. This project is trying to make it an easier endeavor for those already involved and those wanting to start participating in this rapidly growing world.
The post Terranova Picks: Refinable, Empowering NFT Creators appeared first on BeInCrypto.
