A Hunter’s Tale of Borrowing and Lending in NFT Gaming
The Lending Mechanics of NFTs in Hunter’s On-Chain Decoded
Welcome Hunters! Let me introduce myself, I am the BoomLand Bard and it is my job to speak of the wonders of the Hunters’ universe as well as the dangers and pitfalls. Today we shall talk of borrowing and lending on the first game that will be released on the BoomLand Platform: Hunter’s On-Chain.
The Hunters Universe
Out there in the fierce lands of Hunters On-Chain, the wind is bellowing across the plains as warriors sharpen their blades and arm themselves ready for battle. What strange and exotic beasts walk across these lands! What arcane wizards and dragons we have to face in the prize of being a legendary warrior in the world of NFT gaming.
Borrowing and Lending NFT Hunters
So as you jolly Hunters know by now, if you’ve been paying attention, that each hunter is a unique NFT. Listen carefully and heed these words, for a daydreaming fool will perish and soon become bereft of hope and coin.
Advice for NFT Newbies with Hunters !
If you are a newbie without an NFT Hunter, do not despair, for you may borrow one from another player to set forth on your quest in NFT gaming. Each player lending an NFT Hunter shall set a price in BoomLand coin for a fixed time period. Borrow and lending may take place on a daily, weekly or monthly basis; it is up to you players to decide. Now remember, if you are borrowing a Hunter, you will be sharing a pre-agreed amount of the total rewards with the owner for all that you earn in the game modes and events. This is the way of the Hunters! Are you following me still?
A NFT Universe Managed by Players
So I hear you cry, ‘Oh they just want our money, it is not about gaming!’. This is not the case my fellow Hunters, for BoomLand is a universe where the players decide the amount of coinage you will earn. $BGEM and $BOOM tokens are the currency of these lands (see earlier articles for info).
The BoomLand Tech Wizards designed it like this with purpose. For it gives a passive token income to the lenders and it means that there is a lower barrier for entry for any players that didn’t have a chance to buy a NFT Hunter during the GAOs or in the Marketplace.
The NFT Tale of Barbarus and Elrocka
It is time to put on my Mathematics Wizard hat to explain the mechanics of lending and borrowing. Imagine this scenario…
Player A wants to start playing the game but doesn’t have the initial capital to buy their own NFT Hunter. Player B has a spare Hunter to lend. Let’s give Player A a warrior name, ‘Barbarus’, and Player B, ‘Elrocka’.
Barbarus and Elrocka Make a Deal
So Barbarus goes into the Borrow screen and views the types of Hunters available for three game sessions. After a good old rummage, Barbarus pick’s Elrock’s Archer.
Elrocka put the Archer on the market with a payback percentage of 65%. She’s a serious trader and likes her coinage! Anyway, Elrocka, owning 5 Hunters, but only playing with one, decides to switch on Borrowing Mode.
Now the Tech Wizards of BoomLand set some parameters for trading, so the owner can set either a 10% minimum and a maximum of 90% on the payback percentage OR a daily cost in $BOOM payable in advance via a smart contract. So it is down to you to set your own percentages or costs and watch while the tokens come flying in!
Now are you still paying attention? Come on, stop looking at Facebook and focus. The Archer is Hunter NFT Level 3 and has more in-game performance, so Elrocka decides 65% is a fair deal for the rental of her fine Hunter.
Packing the Token Wallet with $BGEM!
Anyway, to cut a long story short, the deal is done and Barbarus borrows Elrocka’s Archer. He is quite happy with a 35% share of the winnings and they go straight into his wallet. Meanwhile, Elrocka is loving the passive token income filling her purse! Both Barbarus and Elrocka are happy as Larry with $BGEM flowing in. For those who want some bedtime reading, all is explained in the white paper here.
So there you see my hearties, it is a win-win for all in the Hunters’ world of NFT gaming!
Borrowing and lending NFTs is a lot of fun and you gain passion income for your devotion to gaming!
