IQ Protocol has announced that several highly successful GameFi projects are to begin using their technology. The news means that these games now have access to IQ Protocols’ unique NFT rental solution.
This is the latest in a long line of developments for the new company. In total, they raised $12 million to start the company. Now, they have a long list GameFi partnerships in the works. What’s more, it will create a peer-to-peer rental market for in-game assets.
The recent partnership announcement includes 3D Gamers Guild, Starbots, Tiny Colony, Gunzilla, Zone of Avoidance, Solido Games, and many more.
Furthermore, these NFT projects join many that are already integrating IQ Protocol’s wrapped NFT rental solution into their games. These include Nyan Heroes, ChainMyth, and Spark Era. Importantly, it supports Polygon and BNB. Solana and Avalanche are already in the development phase.
IQ Protocol offers an alternative in NFT market
The increase in companies joining indicates massive potential for the in-game asset rental market. The two parties involved in the rental arrange a fixed price for a set amount of time, reducing any risk.
Basically, players can make passive income from their NFTs and enhance user experience, which is a win for everyone. Meanwhile, there are huge renting and staking possibilities.
Finally, The technology by IQ Protocol is brand new. It allows users to “rent wrapped versions of digital assets for their utility while allowing holders to earn by providing liquidity without risk.”