Wow, what a year!
NFTs have achieved mainstream media recognition in 2021 and it won’t be long before they become mainstream itself.
Brands like Adidas, Under Armour or Nike have already started embracing the future and launched their own NFTs with endless more companies to follow.
This revolution won’t only take place exclusively in the digital world — NFTs will also become part of our ordinary life where it is completely normal to use a certain NFT to access your holiday apartment or visit real-life events like concerts. Eventually, you won’t even know what is happening beneath the surface.. it will just work.
2021 laid the foundation for NFT rentals to become an integral part of the NFT world.
- NFTs with utility exploded in what we dub the “utility” phase
- High entry barrier for certain NFTs
- Play to Earn games are here
- Gaming Guilds have pioneered a new model
1. More NFTs hold utility
As our NFT Research Campaign found out, the majority of NFT owners hold more than 10 NFTs — and it gets even better, more than half of these NFTs hold utilities such as access to real life events, in-game assets and digital experiences making them a perfect fit for rental purposes.
It can be clearly seen that NFTs without any utilities have become an exception and their attractiveness clearly falls short of NFTs that hold utility — being a simple profile picture project isn’t enough anymore to attract investors or collectors.
All of this leads to an increased interest in rental solutions because users would much rather rent NFTs allowing them to attend real-life events than NFTs without any utility.
It will be a common thing to rent NFTs –just like renting out real life objects.
2. High entry barrier
Another reason why NFT rentals will play a big role in 2022 is the high entry barrier for certain NFTs.
Virtual properties in games like The Sandbox or Decentraland have seen a great increase in value this year, which is justified in terms of their benefits, but will make it difficult for most users to get their hands on.
With our rental solution it is possible for everyone to be a part of this digital revolution no matter the financial status.
With our collateral-free solution it is not necessary anymore to pay a collateral similar to the actual price of the rented NFT. Renters only have to pay the fee for their rental duration, making it super affordable to rent even high value NFTs.
3. Games
Do you remember when free to play and cloud based games took over the market? Exactly the same will happen again with play-to-earn games in 2022.
In 2022 there will be a large number of games that are equipped with NFT economics. By giving players the opportunity to earn precious in-game assets such as characters, weapons or coins just by playing games, people will finally be able to make their hobbies their profession.
There will be a time where players can make a living by renting out in-game assets, virtual property or even digital fashion wearables for game characters.
Even the greatest critics will no longer be able to call gaming a waste of time.
Our Achievements in 2021
Before we tell you our plans for 2022 — let us start with a recap of our biggest achievements in 2021!
✅ reNFT launched on the ETH mainnet as the world’s first NFT rental platform.
✅ Closing of our $ 1.5M Strategic Round led by Animocabrands
✅ Our first collateral-free integration with Animetas went live
✅ We launched the first platform specifically for CryptoPunk social leasing!
✅ Our Rarible DAO proposal was passed, making it possible for us to integrate our rental protocol into the Rarible marketplace.
And now back to 2022!
At the beginning of this year we will finally launch our long-awaited new v2 platform helping us to step into the big league!
We have put a huge focus on great user experience and amazing performance.
Chain Expansion
Due to the particularly high gas fees and the environmental impact of Ethereum, a huge number of exciting NFT projects chose alternative blockchains to launch their projects. Since reNFT is fully chain-agnostic,
we will support every blockchain where there is meaningful NFT activity
with rental use cases.
This year we will expand our collateral-free rental solutions to Solana, Polygon and Avalanche.
Our Solana and Polygon integration will be live in the first months of this year!
Game Integrations
Talking about collateral-free rentals…what‘s the use of the best-collateral-free rental solution when it’s not used by any project?
That is why we are going to roll out numerous game integrations in 2022!
Get ready to generate income from renting out in-game assets, virtual property — you name it.
Stay tuned for specific project integration announcements soon.
Scholarship Automation
Additionally we will launch our scholarship automation tool into multiple games this year. A lot of people have stale assets that they don’t rent out because in most cases scholarship management is a full time business.
It requires a middle third party “scholarship manager” to rely and trust on, which removes the ability to permissionlessly scale.
Most of the time profits have to be evaluated using excel sheets and then shared manually between both parties.
Instead of defining a rental price and rental duration that’s paid upfront, owners will be able to pre-define a revenue share split percentage for that specific gaming asset that will be paid out accordingly without any third party (scholarship manager) involved leading to an even higher revenue.
This allows fully trustless play-to-earn asset lending for the first time for every individual NFT owner, gaming guild and scholar.
Team Expansion
In order to achieve all of these goals, we are proud to announce that we are expanding our team by three very talented developers who are starting early January — So we’re going to start this year with full force!
Token Launch
Last but not least — this year we will finally launch our $RENT token!
Stay tuned to our socials you will all be the first to know how it will be distributed, launch plans, and more.
P.S. HODL YOUR CATS
That’s it for now — we wish our community a great successful year 2022!
See you next time.
About reNFT
Let your stale NFTs generate revenue and rent NFTs temporarily. The reNFT vision is to bring any asset that has a rentable use case whether in the digital or physical realm on-chain as an NFT for trustless, secure, and quick rentability. We see this as anything ranging from intellectual property rights, physical/digital real estate, to in-game item purchases in gaming experiences. We live at the intersection of NFTs and DeFi.
The initial and core reNFT product enables peer to peer renting of ERC-721 and ERC-1155 non-fungible tokens (NFTs) on Ethereum mainnet.
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Website: https://www.renft.io/
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