Following Artifact Labs’ purchase, Refinable to exit its NFT trading and origination platform
Immediately following the acquisition of Refinable by Artifact Labs, the three-phase process for the complete shutdown of the NFT trading and creation platforms will begin. Artifact Labs, which happens to be actively engaged in preservation as well as bridging and archiving the past on the blockchain, will now be seen using Refinable’s technology when it comes to the next stage of development. At the same time, the three-phase process for the final closure of Refinable will be put in place and start with immediate effect.
The first phase will see the end of Creator Suite credit card subscriptions. In addition, those users who have inadvertently purchased additional subscriptions will receive a pro-rata refund of their purchases. Current Prime subscribers will continue to have access to the service until the final stages of shutdown. The platform will continue to operate for another six months as part of the second phase of the closure.
The idea behind this is that consumers will then have the necessary time to switch to other platforms of their choice without really feeling rushed. Users will be able to maintain healthy interactions on all relevant topics during this time.
After the period of six months, the entire function of the device will be disabled. This will include aspects such as the Creator Suite, as well as the Marketplace and API. However, all the NFTs built on the platform will still exist, except for the listings, which will be closed. As for the current token holders, they will find themselves in the position to continue to receive benefits stemming from all Artifact Labs launches. This will also include connecting to the whitelist as well as free coins.
With the funds received from the acquisition, the entity will now be able to continue the platform’s business for a while longer, which was otherwise starting to get a little difficult. This will also pave the way for a smoother output line for the connected users. Refinable is also very pleased with the delivery of BSC’s first NFT marketplace, as well as supporting the first sale made at Digital Art Fair Asia. They also boast of incorporating Solana with EVM assets, along with allowing the construction of 721, 721A and 1155 contracts. Additionally, there is the positioning of their public API, as well as the creation of their proprietary NFT indexing engine, and many more such landmark instances.
They also take responsibility for the fact that it all started as a BNB Chain marketplace and has since evolved into a commendable multi-chain NFT business platform, enabling artists and NFT followers to create and manage their own NFT collections.
