IQ Protocol recently announced a successful investment round, bagging a total of $12m. Crypto.com led the funding, with the addition of many other notable names in the industry. Meanwhile, IQ Protocol continues to add various GameFi projects to their ecosystem. Through this integration, the blockchain games will be able to execute in-game rentals between participants.
IQ Protocol x GameFi
IQ Protocol’s gaming ecosystem includes projects on the BSC network, Solana blockchain, and others. This includes Nyan Heroes, Zone of Avoidance, and Spark Era. With the help of the latest investment round, the company will press on in its mission to revolutionize the NFT market.
The company has several milestones planned for the near future. IQ Labs is planning to launch its NFT marketplace for a more holistic gaming ecosystem. In addition, the company will soon launch its own $IQT token. Furthermore, there will be airdrops, integrations, metaverse renting, and others.
Basically, IQ Protocol enables the ability to create wrapped, expirable versions of in-game assets. This feature is available for both fungible and non-fungible tokens. As such, users can stake their assets, lend and rent, and conduct many other potential activities.
In essence, owners will rent out their digital assets to borrowers through IQ Protocol. The expirable versions require no collateral from the borrower while negating the risks on the owner’s side. Currently, the ecosystem has already developed a multi-million rental market.
The IQ Protocol GameFi integration still has a long way to go, but it’s looking really good so far!