Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: RSRS on August 06, 2021, 08:49:42 AM
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Rentfuse won the award for the Best NFT Project in the Neo Frontier Launchpad hackathon. It is a protocol that enables NFT owners on Neo N3 to rent out their assets while maintaining ownership control. The developer, Michael Fabozzi, was inspired to design the protocol while thinking about potential use cases in the gaming industry.
NFT Renting
Rentfuse creates new ways to tap and distribute the inherent value of digital assets, such as in-game items.
“I saw that the NFT market has been really increasing in the last years. And I was only seeing that the NFTs were traded, there was no renting anywhere.” Fabozzi noted. “So I thought, well, maybe I can build something.”
Rentfuse prototype homepage
Rentfuse is a protocol that manages NFT rental agreements between owners and tenants. It allows renters to use an NFT for a predetermined period of time in exchange for GAS, without the owner relinquishing custody of the asset. Speaking on gaming as an example, Fabozzi said:
“Sometimes there are monsters that are really difficult to be defeated. Maybe you can rent a really powerful weapon that you can use for some time just to kill the boss, for example, and then the owner gets it back. So you don’t have to pay the cost of buying the real weapon or the real armor – you can just rent it.”
It has become quite common for gamers to participate in P2P marketplaces. Many video games, especially massive multiplayer online role-playing games such as World of Warcraft, heavily depend on their in-game economies where players can freely trade with each other. If a user wants rare weapons or armor but can’t complete the quest needed to get them, they may purchase these items from other players.
More Information (https://cryptonews.net/en/news/nft/1310449/)