AMA Recap of Dude’s Army x Refinable
On Tuesday, April 13th, Dude’s Army community had the great opportunity to host an AMA with Refinable’s team, very instructive and educational. We will share with you a little bit of what this experience was like.
The Dude👨💼:
Let’s start the AMA! I will give you freedom now to intro yourself and share a bit of your background!
Nick C | Refinable:
Hey guys, this is Nick and I’m the cofounder of Refinable!
As a crypto enthusiast since early 2015, I’ve always worked amongst tech and ecommerce projects stretching from hospitality to gaming.
Previously I launched the first 3D marketplace system at Li & Fung, one of the world’s largest sourcing agents.
After joining crypto in 2016, i got more involved in the space and even organized the first Binance Pre Hackathon in HK
But it wasn’t until last year that I realized NFT’s potential in the digital commerce space and in short, that’s how I got started with Refinable
The Dude👨💼:
When did you start the development?
Nick C | Refinable:
So our idea was concepted late 2020, and our POC was done in the first half of January on the BSC ecosystem.
Back then we were just trying to gauge which ecosystem to build onto and BSC was just the natural choice for us
The Dude👨💼:
Explain our community what Refinable is building and why the market needs it?
Nick C | Refinable:
Many people are looking to engage in NFTs, both retail and crypto people (partly because of the insane speculation that’s happening right now) but because of Ethereum’s scalability issues, it has literally priced out many many people. So we see this as an immediate issue and we want to offer an immediate solution while also working on a new type of NFT experience.
What this means is we want to also explore a new angle for engaging with NFTs and one of our main difference is we are content and community agnostic.
Meaning we are building Refinable with the intention to support all NFT content types across any brand/community
TLDR is we want users, brands, and entire communities to be able to Create, Trade, and Discover NFTs in a fun and accessible manner. Later, be able to Leverage thier owned assets all in one platform!
The Dude👨💼:
Sounds great! ETH gas fees right now are just insane. Exchanging NFTS is just super expensive. I think it costs around 100$ to list an NFT on Opensea.
Nick C | Refinable:
Exactly, and i really doubt that is the sort of place where brands imagine their users would want to engage with their items on.
The Dude👨💼:
Besides ETH gas fees and BSC ecosystem at your pocket, Which advantages do you have against Opensea and other competitors?
Nick C | Refinable:
One thing that separates us out is the Brand Supporting Features. We have the intention of supporting entire communities since NFTs are honestly based around communities that impart value and meaning onto it.
What this means is allowing features such as dedicated marketplaces, flexible royalties, and custom programming/execution of features for their NFTs, to customize the NFT experience that makes sense for brands..
We plan to be long term partners with all the IPs/creators we bring onboard, and having a solid onramp for big established brands to come onboard, that’s safe and secure for their communties is important.
The Dude👨💼:
On top of that question I want to ask you another one, what will be $FINE utilities on the ecosystem?
Nick C | Refinable:
So our native $FINE token is built with utility and governance features in mind. users can spend the tokens to settle transactions, and to get priority exposure for your listings like any standard marketplace
Otherwise you may also hold our tokens to earn additional benefits similar to a tiered membership experience. This may include increased limits on features, discounted service fees, access to exclusive sales and more!
The Dude👨💼:
I expect the community to be really stronger on Refinable than Opensea for the fact that the barrier to get into it will definitely be much lower.
Nick C | Refinable:
We do want the community to come explore because its accessible, and stay because it’s fun and there’s a lot to do on Refinable
We also want to include end to end features for the community so we are acting as a major NFT hub to create, trade, discover, and leverage these nfts.
This is also something that’s usually carved up into different applications on ethereum because it’s a red ocean over there, and you need niches to stay competitive.
We have the luxury of reimagining what the entire NFT lifecycle would be like
Community Questions
Q1 from Eberth:
Is it possible for NFTs to acquire the same value (value in all respects) that works of art have today? And how do you see this in the future, will it be possible in a short or long period of time?
Nick C | Refinable:
I’ll tackle this one first. So it’s important to understand that NFT is just a technology that stores information about stuff. The content on those NFTs is what’s really important. So if talk about the CONTENT itself, then yes, people like to value content in so many different ways so its def possible for some items to have the same or higher value than a normal art piece.
NFTs by themselves are just a type of technology unit, so the question has the be phrased differently!
Q2 from Omar A:
Is it going to be an ERC20 placeholder token on polkastarter or do they support bep20 since refinable is a BSC project.
Nick C | Refinable:
Great question, $FINE is going to be BEP20, and we’re going to be Polkastarter’s first full BSC project to launch! So we’re excited to be part of POLS history in this small way. Please rmb to configure your wallets to BSC when interacting during our public sale!
Q3 from Ugur Alkoç:
“Reducing our ecological footprint is always on our minds” There are some Carbon Credit-focused crypto initiatives in the market. Any plan to integrate with them to act on this issue?
Nick C | Refinable:
That’s definitely a possibility, but honestly, switching to BSC was already a HUGE move for us in terms of creating accessibility and offering a greener alternative. That alone should be enough organic interest for Refinable at launch!
Q4 from Joxes:
Can you explain about your $FINE featured called Access to exclusive sales? Today it is known that the public auction system is the most profitable mechanism to sell NFTs, how would an exclusive sale system benefit?
Nick C | Refinable:
We will help support whatever distribution strategy the brands we partner with want to deploy. But I must add that the team has recently decided that exclusive sales is probably not the way to go for an open marketplace, but we do want our token holders to get a more VIP experience on the platform. So that may be inthe form of early access to certain sales in lieu of a binary thing like an exclusive sale.
About Refinable
Refinable aims to become the definitive NFT hub to create, discover, trade, and leverage any digital content on the blockchain. Powered by Binance Smart Chain.
More information about Refinable:
Website: https://refinable.co
Telegram: https://t.me/refinableapp
Twitter: https://twitter.com/refinableapp
