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Why does it make sense to rent NFTs?

First, NFTs are digital assets stored on the blockchain. Due to the countless application fields and possibilities of NFTs, the following types of NFTs are currently emerging.

• JPEGS

The most famous and simplest NFT type is JPEGS. Most of you have probably heard of it because of the high sales records achieved by artists like Beeple or NFT projects like CryptoPunks, Bored Ape Yacht Club, etc. There are various situations in which it makes sense to rent JPEG files. For example, if a museum wants to display a certain piece of art for an art exhibition, they can easily search for their favorite artwork and choose to rent it during the art exhibition without worrying about shipping damage.

game

• game

The greater the utility of an NFT, the more likely someone is willing to rent it. That's why NFTs in gaming could become one of the biggest markets in the digital world. Game NFTs can be game assets that represent game content, such as digital fashion wearables, weapons, cars, or even virtual real estate in games such as sandboxes. Another example of a popular NFT game is Axie Infinity, where players pit their in-game assets against each other and earn tokens through it.

Metaverse

• Metaverse

music

• music

Imagine selling your music directly to fans, deciding for yourself how many copies to distribute, the price, and even the type of distribution. You could even add certain incentives for music buyers, such as reduced future concert prices or merchandise prices, or even ticket first refusal rights for NFT music album holders.

domain name

• domain name

We are seeing more and more domain names becoming NFTs. Premium domain names can be very expensive, so it only makes sense to rent one for a period of time to get the best domain name to represent the company or event well. Unlike normal domain name providers, there is no renewal fee for an NFT domain because it is minted as an NFT on the Ethereum blockchain, granting users full ownership and control over their content.

• Tickets/Events

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Reuse of NFT

Currently, there is no other method of generating income from NFTs other than the potential speculative price increase over time. Leasing NFT aims to revolutionize the ever-expanding NFT market, enabling owners to generate income from their otherwise obsolete assets, and enabling renters to use a variety of NFTs in experiences without being limited to owning a single asset.

The lender defines the lease price, collateral and maximum lease term. Lessees specify the lease term, pay collateral plus rent, and receive a fully escrowed NFT. Simply put, the collateral-free solution only requires the corresponding game support to load rented assets.

NFTs will change the way we handle digital assets, forever opening the door to true ownership. They open up endless new financial markets for people to participate in, democratize the industry, and give creators, collectors, gamers, artists, and more a whole new way to follow their passions.

Whether it's trading cards or luxury goods, everything can and will be tokenized, allowing people to earn passive income by lending out in some of the ways mentioned above, or be able to advertise their corporate dollars to thousands of users around the world by renting virtual ad space universe. The NFT rental market will become an integral part of the new digital age.