reNFT — Educational Post #1

Axel F.
reNFTLabs
Published in
2 min readDec 2, 2021
Original Image: Neon Genesis Evangelion
source: Neon Genesis Evangelion

We are not just a marketplace for NFT rentals!
On one hand we are integrating our rental protocol into numerous projects to enable in-house renting, lending, scholarship automation and on the other hand we are building an asset aggregator for everyone to lend or rent NFTs regardless of any games or projects.

With our solution we are taking the renting/lending product off the game´s plate.

We already have collateral-free solutions.
Depending on the value of the respective NFT, the amount of collateral required can sometimes be very high, so that renting is no longer an option for most people despite the possibly low rental fees. This is why we have developed our collateral-free integration tools to allow fully trustless NFT rentals for any project!

Simply put our collateral-free solution only needs to be supported by the respective game to load in rented assets. They can do this as easily as pinging our reNFT SDK. This allows the reNFT protocol to become a white label solution that can be integrated into any games front-end to enable full renting/lending capabilities.

Our collateral-free contract delegates out a “usage right” that is tied back to the rented original NFT. This right shows the asset, renter, rental duration, price, and expiration.

This is much more gas efficient than minting a duplicate wrapped NFT. It is by far the most efficient and easiest way to integrate NFT rentals into a project, and just one of many GameFi solutions we offer!

Tune in next to hear about our scholarship automation tools.

Over and out!

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