A Brand new NFT Rentals Market: NO COLLATERAL NEEDED, NO 3RD PARTY INTEGRATION REQUIRED
Venn is a blockchain protocol/web3 platform that enables users to engage in NFT rental transactions, entirely on-chain, safely and in a trustless manner. No colateral is needed.
It is also made to be FULLY COMPATIBLE with ERC-721. No need to implement new patterns! Users that pay to acquire a NFT as a rental take DIRECT CUSTODY over the asset, taking away the need for NFT platforms to integrate to our solution, making Venn COMPATIBLE BY DEFAULT with every major NFT project.
We are leveraging Acount Abstaction to achieve this incredible feat. While still in the development phase, we've launched a Demo in Ethereum Sepolia testnet. The Demo includes a web Walelt/Dashboard and a web Marketplace, aside from fully operational smart contracts.
Below you can find a guide on how to test the Demo. You can find all available information in this link.
To learn how to use the Demo please checkout this link.
Feel free to open issues or contact any of the team members if you run into any errors. Also contact us through australopitech@proton.me if you are interested in collaborating.
How Does It Work?
NFT owners can utilize our dapp to list their NFTs for rent. In turn, our SC wallet users can rent these for a specified duration. Asset owners can be confident in receiving payment and having their assets returned post-lease, all thanks to our robust smart contracts.
How is this achieved? Venn Smart Accounts ensure the rented NFT remains within it until the rental period concludes. When the rent is due, the NFT is directed solely to its rightful owner.
Our application is tailor-made to work with ERC-721. NO NEED FOR NEW PATTERNS!!
We've also streamlined the process for any marketplace dapp to integrate seamlessly with our wallet. Check here for details.
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Gaming: The burgeoning gameFi sector underscores the relevance of our application, especially as most games employ NFTs as in-game assets. NFT owners can monetize their assets during inactive periods.
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Metaverse Items: 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.
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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.
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Domain Names: 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.
The implications of our project are clear-cut. It unveils the inherent value of assets that are, or can be, represented as NFTs, encompassing both current and prospective cases. Upon our launch, any asset owner can potentially generate passive income, provided there's real demand for their assets.
- Integration with ERC-1155.
- Enabling payment with ERC-20 tokens.
- Scale api through sub-graphs.
- Mobile UI.