IQ Protocol Welcomes GameHub into our ecosystem!
GameHub believes that the Web3 revolution represents the future of gaming. In order for that future to become reality, though, scalable and decentralized play-to-earn game distribution platforms are a necessary foundation. That is exactly what GameHub is currently building on the Solana blockchain.
With a mission to help accelerate Web3 adoption through gaming, GameHub will provide users — both players and game creators — with a platform to both find & create games, manage their digital assets, and an enjoyable social environment to play within.
At the heart of the GameHub platform is the native $HUB token. Players can earn rewards in a variety of ways, from playing games on the GameHub platform and participating in the SocialFi aspects of blockchain games, to staking and renting their NFTs.
GameHub also offers opportunities to game developers, providing them with a platform, tools, and incentives, to launch their game. Beyond bringing their game to the users of the platform, GameHub also pays out royalties to game creators, each and every time someone plays their game.
IQ Protocol + GameHub
A central aspect of GameHub’s platform is their NFT marketplace. IQ Protocol is proud to say that we will be powering their platform’s ability to allow users to lend and rent their NFTs!
How does IQ Protocol’s model of NFT lending and borrowing work?
IQ Labs envisioned an NFT rental marketplace that would elevate NFT utility and create a brand new economic model for holders and projects, freeing them — at once — from high collateral restraints and asset risks.
IQ Protocol provides the infrastructure for token holders to rent out their NFTs to other users. The rental agreements are based upon a pre-arranged amount of time and for an agreed-upon price, benefiting both parties involved. Traditional staking is often based on inflationary mechanisms to provide interest; renting out your NFTs is tied to specific utility for the NFT creating a more sustainable economic model, with renters gaining access to the represented utility of the asset.
IQ Protocol’s model for NFT lending and borrowing is built to be risk-free. Up until now, NFT renting has been associated with collateral and been based on trust in the renter to return the original asset at the end of the rental period, in exchange for the collateral provided. With IQ Protocol, such risks are not a concern. Instead of giving the original asset to the borrower, IQ Protocol mints an expirable version of the NFT (which contains all of the unique features and metadata of the original). This wrapped version of the NFT is then given to the borrower.
Our platform secures the original NFT which is returned to the owner after the agreed-upon rental contract has expired. Now, token holders can enjoy the benefits of renting out assets that they aren’t currently using, but that they would not like to sell. With our platform, NFT depositors and projects can earn rewards (rental fees) on NFTs, all the while knowing that the original asset is safe.
IQ Protocol is about to completely disrupt the NFT scene, changing the way we engage with our digital assets. And we look forward to working with GameHub to build the future of Web3 gaming!
GameHub is building a scalable, decentralized game distribution platform for cross chain p2e gaming. Through the GameHub NFT, GameHub is bringing gamification to p2e gaming. Play games to earn their native p2e game tokens and earn $HUB to level your NFT and produce more liquidity.
About IQ Protocol
IQ Protocol is a blockchain project providing a decentralized money market for digital asset renting and on-chain subscriptions. The next money lego that allows users to rent wrapped expirable versions of digital assets without collateral, while allowing holders to earn by providing liquidity without risk.