Why rent NFTs

Not just PfP's

Because of the craze of the collectibles and digital art markets, a lot of people don't realize that NFTs go way beyond these use cases. Many other use cases have been emerging for the past years and there are many more to come. And of all these use cases, many will benefit greatly from a rentals market.

First, the possibility to rent out one's own NFT unlocks the real value of the asset making it able to generate passive income for its owner. But that begs the question, why would anyone be the counterpart to this transaction, i.e., the rentee? Which brings us to our second and main reason to have such a market in the first place.

As hinted above a lot of use cases of NFTs with special functionalities have been emerging and the market for these assets have been on the rise. Because these NFTs enable some privileges to be had by its respective holders, there is real demand to hold these assets. Holding these assets temporarily is really attractive to a lot of users who do not want to make the investment of purchasing an asset like this but are interested in enjoying its underlying functionality for a given period.

We listed below some examples of use cases that match really well with what was just said. Off course that potential markets go way beyond this list.

The implications of vibrant rentals market are clear-cut. It unveils the inherent value of assets that are, or can be, represented as NFTs, encompassing both current and prospective cases. Through our platform, ANY asset owner can potentially generate PASSIVE INCOME, provided there's real demand for their assets.

Main use cases

Gaming

Most Play-to-earn (aka GameFi) platforms use NFTs to represent in-game assets. These assets have special in game functionalities and some times are even required to play the game. The most known example is Axie Infinity, in which the little monsters, the Axies, are represented by NFTs. Gaming Guilds can benefit immensely from a renting protocol like ours.

Metaverse Items (real estate, etc.)

As in GameFi, also in metaverse platforms items are usually represented as NFTs. Any such item within the metaverse can be rented out with ease using our protocol. The most straightforward example is real estate in platforms like Decentraland and Sandbox. But many other metaverse goods, such as vehicles, tools, even expensive clothing, are surely gonna be involved in such transactions.

Access tokens

In certain scenarios, NFTs serve as access control mechanisms. NFT holders gain privileges or rights, such as the BAYC, which grants its holders exclusive community access and future entry to their metaverse. Imagine how much more malleable and inclusive the club will potentially get!

NFT domains

The secondary market for crypto domains like ENS will gain much more flexibility with the use of Venn. Investment in this type of asset will be immediately become much more attractive.