Off the back of its successful investment round which took place last month, NFT renting protocol reNFT is now expanding its non-fungible prowess by partnering with cross-chain NFT lending platform Unlockd. Through the partnership, the gap between TradFi and NFT rentals will be bridged in the most proficient way possible.
A New Era for Web3 Users
Unlockd is a platform which allows NFT enthusiasts to acquire assets in the easiest way possible. Through its ‘buy-now-pay-later’ technology, users can take out an instant loan against an NFT asset while keeping the utility of the collateral. As with any sort of asset, this means that users can seamlessly acquire a sought-after NFT and then rent it out to instantly generate a passive income. This passive income stream is meant to make repayments effortless.
Although the combination of reNFT’s NFT rental protocol and Unlockd’s NFT liquidity provision will be beneficial to individual users, the partnership has also been formed with the wider Web3 industry in mind. More specifically, reNFT and Unlockd intend for gaming guilds, scholars, investment DAOs, and all other agents of the metaverse, to profit from the collaboration through its provision of NFT liquidity.
The solution will enhance the company’s asset utilization in both the short and long run, and help devise sustainable growth opportunities which trump the current bear market.
A Cross-Chain Protocol
In addition, Unlockd’s services are not bound to to just one blockchain, nor one area of Web3. This means that enthusiasts of art, DeFi, the metaverse, and gaming, can all benefit from its cross-chain protocol to compound their wealth with NFT-backed loans whilst maintaining 100% of ownership perks.
Paired with reNFT’s white label integration, collateral free in-house renting, and scholarship automation, this means that the partnership will provide a whole wealth of liquidity that will transcend any Web3 borders.
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