Cypher
NewsNFT

First BSC NFT Platform Sells Out in Five Minutes

Polkastarter, a decentralized finance exchange, has witnessed massive successes in what appears to be its biggest token offering so far, a non-fungible token (NFT) for Binance Smart Chain (BSC).

This Polkadot-driven exchange commenced the IDO (initial DEX offering) on 27th April. A particular tweet indicated that the offering sold out in less than five minutes after its launch. The sale of the token was for an NFT platform known as Refineable. Refineable is a go-to platform to leverage, trade, discover, and create NFT-related content on the Binance blockchain.

Polkastarter flaunted some exciting statistics for its IDO plus eight thousand users that are attempting to gain access to its website simultaneously. Two liquidity pools were in a quest for security in BNB (Binance Coin) and POLs, the token offered by the exchange. 

Within those five minutes after the launch of its offerings, Pollkastarter received huge requests to the tune of five hundred thousand, and the numbers of unique applicants were more than one thousand. But then, a ton of reports were received from those that didn’t enjoy the opportunity as the website was not accessible to them because of the enormity of the demand possible, the traffic.

Cypher

First Non-Fungible Token Platform on BSC

This token offering was for the FINE token offered by Refineable with a starting price of about $0.033. After the launch of the IDO, the PancakeSwap exchange listed the FINE token on its official website.

📰 Also read:  Southeast Asia Bolsters Groundwork Towards Blockchain and Crypto Hub

Users of the FINE token can stake their tokens within BSC decentralized finance applications and also within the network. An example of such a DeFi app is the PancakeSwap used to create a passive earning for a user that holds the FINE tokens. The huge publicity for this one hinges on the fact that Refineable is the pioneer non-fungible token marketplace on BSC.

Also, PancakeSwap warned its users about the uncomfortable congestion experience that may occur on the Binance Smart Chain network because it has happened before even though there are loud claims about its superiority to rivals in the industry. On its site, the provider says;

Please be patient and cautious when trading due to the congestion on the BSC network.”

Refineable got a whopping sum of $3 million from the x21, Double Peak, Coin United, AU21 Capital, and Genesis Block Ventures to help it fund its development and growth in confidential round investments. It previously had additional investments from Binance. Mr, Beast, a famous YouTube content creator, and Binance listed extra stock tokens just the previous day.

Just as it is characteristic of most crypto tokens that are over-hyped, the FINE token seems to have undergone a P&D phase. The value of tokens increased and reached an upper limit of about $9 after the conclusion of the IDO. But then, the reverted to $3 as at the time of this report. 

📰 Also read:  Lawsuit Targets Binance For Supporting Hamas And Islamic Jihad Funding

FINE Token P&D (Pump and Dump) 

Early investors and those that were lucky enough to manage to farm a few of them at the offering price will likely still be happy though!

Angel investors and individuals that were fortunate enough to farm some tangible amounts of the token at its offering price will certainly be glad by all indications!


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Coinbase Stocks Rise as the BTC Crosses $70,000 Price Mark

Cypher

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content