reNFT Closes $1.5M Strategic Round Led by Animoca Brands
reNFT Closes Strategic Funding Round
We are incredibly excited to announce the close of our $1.5M strategic funding round led by Animoca Brands!
We are humbled to announce the below funds involvement and belief in our team as we continue pushing forward NFT rental technology.
- Animoca Brands
- Lattice Capital
- Play Ventures
- MetaCartel Ventures
- Scalar Capital
- LongHash Ventures
- SkyVision Capital
- Fedora Capital
- Maeve Ventures
“It is an honor to have such incredible industry veteran investors and builders supporting reNFT and our vision of bringing NFT rentals to the masses!” — Nick Vale Co-Founder reNFT
“reNFT is a forward-looking initiative that is helping to trailblaze the rental of NFTs, a practice that will become commonplace in the near future and will serve as an important pillar of the play-to-earn model.” — Yat Siu, co-founder and executive chairman of Animoca Brands
“reNFT provides an alternative to speculative NFT trading by allowing owners of valuable digital assets to generate income over time (in a trustless and secure manner). This is a valuble new primitive in web3 and in particular within the fast-growing gamefi space.” — Mike Zajko Lattice Capital
“I’m really excited for Scalar to support reNFT. Rentals are going to be an important building block of the NFT ecosystem and provide NFTs with more utility. We’re already at the start of seeing assets like in-game items being lent out for use by other players and it feels inevitable we will see this at a large scale in gaming and for many other use cases.” — Linda Xie Scalar Capital
“I am glad to support the reNFT team on building an essential feature for virtual lands owners in the Metaverse; I’m sure their solution will offer tremendous value and provide new opportunities for NFT holders across the play-to-earn ecosystem.” — Sebastien Borget Co-Founder/COO The Sandbox Game
This funding will enable us to scale our efforts of the reNFT platform and infrastructure as we begin deploying integrations across various blockchains, scaling solutions and integrate with various NFT enabled games/protocols.
What’s Next for reNFT?
As the reNFT community continues to grow next up on our plate includes:
- Collateral-free integrations with various projects/games
- Full Front-End platform re-design
- Natively rentable NFT minting standard
- Token Generation Event
- Further NFT product expansions
We are grateful for the community support that we have received to date and appreciate each and every one of you. We are just getting warmed up and are excited to continue pushing the boundaries of NFT technology!
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.