Introduction to Renfter & Uncollateralized NFT Renting
Renfter is a Decentralized Uncollateralized NFT Renting Protocol that aims to create an equilibrium between NFT holding & non-holding communities while allowing NFT projects to unlock the entire new sets of features in order to help them further grow & scale.
Problem
- Collateral acts as really poor insurance as it can’t guarantee that your NFT will be given back to you once you transfer it to the renter. You have to blindly trust another person and place your bet on renters honesty.
- Renters can abuse your rented NFT to unrightfully claim airdrops
- Lack of Passive Income Opportunities for the NFT Holders
- Lack of Opportunities for Non-Holding NFT Communities
Solution
- Using very own technology of programmable blockchains, i.e. Smart Contracts, to create a renting protocol that is not based on collateral as insurance and that would act as a single source of trust.
- Such protocol should ensure that upfront decided terms and deals between lenders and renters are met no matter what.
- You’ll be able to predefine on how long do you want to rent out your NFT, will renter have the right to claim potential airdrops and you’ll be able to even predefine if you’ll want to split the revenue generated out of the usage of the NFT.
IRL example: Let’s say there’s a Play&Earn/Walk2Earn game. On the one side, you have an NFT collector who’s not really into gaming/walking, but on the other side you have someone who’s a really good gamer/athlete, but doesn’t have the capital to buy the NFT itself in order to start earning… They’d be able to agree, to let’s say, 50%-50% revenue share, where the NFT collector participates with the NFT itself and gamer/athlete does the actual gaming/walking… NFT Collector gets to earn passive income, while the gamer/athlete gets the chance to earn additional income doing something they love… Also, looking on the long term, gamer/athlete is most likely to buy the NFT once he/she earns enough money, thus creating the additional demand for the NFT projects while turning a non-paying customer into a paying customer.
Conclusion
We hope this blog intro helped you get a better grasp about Renfter, make sure you follow us on Twitter in order to keep track of the latest opportunities and stay tuned as we lead the biggest change in the NFT space history :)
