Collateral-free Rental NFT Promotes the Development of Metaverse's Sharing Economy

After each NFT project matures, it is difficult for new players to access, especially some high-value NFTs. For users who hold high-value NFTs, NFTs are not well utilized. Compared with real life, we can lease out the assets and get a profit. So Rental NFT is so important in Metaverse or NFT-Game projects.

Existing technical solutions can only support collateral-rent on flow. This means that renting an NFT needs a large amount of collateral. But the flow is not a good way to implement collateral-free rent. The cadence is a strong resource-type language. The resources held are difficult to enforce transfer or destroy.
so we propose a new protocol to accomplish the goal. we provide a new user-NFT contract that the NFT owner can invoke user-NFT contract to create user-NFT.The user-NFT contract detail are as follows:

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Through this protocol, you can create a rental marketplace to help rent NFT. The rent-marketplace process is as follows:

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This protocol adds a new right of Non-Fungible Token that the right to use. Through this protocol, you can achieve :

  • Separation of the right to use and ownership of Non-Fungible Token
  • Non-secured lease Non-Fungible Token
  • You can continue to use it after you mortgage the Non-Fungible Token
  • Metaverse sharing economy

It is precise because of the separation of ownership and uses right that the utilization rate of assets can be greater. You must distinguish between the rights of the user and the owner.

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Great! I think this is beneficial to NFT world ~ :+1:

Nice job,looking forword it!

@kimos very nice idea, I was recently discussing similar stuff with some friends.

In our system, NFT is minting a shadow copy with some expiration date. ( and itself becoming useless till data time ) if you destroy copy or time expires, it becomes active again.

Basically NFT is an minter actually. But also you can use it as NFT.

So you don’t need to dive into Collection level. And each copy has actually the same type as the original. ( Ofc as long as Dapps support the new standard )

@bluesign Thank you for your answer. Based on the specificity of the cadence language, it seems that this is the best way to implement an unsecured lease. If you are interested, we can establish a more in-depth communication.

Sure @kimos I would love to discuss, you can find me on Flow discord with same nickname

Interesting idea, we could see that adding rentals has been added into the roadmap for many metaverse and Gamefi projects, but more application scenario builders don’t have the energy and need to deploy a rentals infrastructure. It’s good to see that someone is taking note and starting to build such a protocol