IQ Protocol Welcomes Lootbox
By now, it has become clear that blockchain gaming is currently transforming the ways that players, game creators, and developers approach the world of gaming. Play-to-Earn models are becoming increasingly popular; gaming guilds are adding new features and incentives for their members; and the types of scholarships available are becoming more available and diverse. And even beyond all this, no longer is it even necessary to be actively involved in a game to reap the rewards associated with blockchain gaming. Even fans can benefit!
IQ Protocol is happy to welcome Lootbox into our ecosystem! With Lootbox, fans can invest in their favorite crypto gamers and enjoy profit sharing.
Lootbox
Lootbox is a platform that extends the reach of blockchain gaming. For example, say you don’t have time to play the games you’d like to play. Or, maybe you’ve never been good at gaming, but still understand the appeal.Now you don’t even need to play a game to earn the rewards gaming platforms offer. Instead, you can invest in your favorite crypto players — whether they are individuals or guilds — and profit-share from their successes! To make it even easier for investors, Lootbox provides users with up-to-date lists of gamers’ stats, reputation, and the like. That way, you’re given insight into the level of risk versus reward your investment might involve.
Lootbox’s model doesn’t just benefit the fans who invest. It also helps the gamers. Gamers are given opportunities to play more, improve, use better in-game NFTs than they could otherwise afford, and eventually earn more. As they play, they will eventually eventually become NFT owners and earn passive income by renting NFTs to other players.
IQ Protocol + Lootbox
IQ Protocol is excited to partner with Lootbox to help gamers succeed! Our platform will be providing Lootbox with the basis of their NFT rental marketplace, allowing their users to easily rent out their NFTs and enjoy profit sharing.
When it comes to NFTs, IQ Protocol offers a host of innovative features that will transform digital-asset marketplaces, from risk-free and collateral-less renting, to cross-chain and multi-purpose renting, and more!
How is IQ Protocol’s model for NFT renting risk-free?
Good question!
It was important to us that the NFT marketplace on IQ Protocol is risk-free, since we know that digital assets are not only valuable, but are also important to their owners. Typical modes of lending an asset puts a lender at risk, say, if the borrower refuses to return or loses hold of the asset (for whatever reason). 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 of the original). This NFT is then given to the borrower. This guarantees that the original NFT is always safe and can be returned to the owner after the agreed-upon rental contract has expired. Now, players can rest easy renting out the items that they aren’t currently using, providing the guild with a frictionless way of pooling their assets.
We’re happy to join in this partnership with Lootbox, and look forward to our future!
About Lootbox
Lootbox lets fans invest in their favorite crypto gamers & enjoy profit sharing. It’s sponsorship, not scholarship. The difference with Lootbox is that players own the NFTs, which lets you build wealth on the blockchain.
About IQ Protocol
IQ Protocol is 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 for their utility, while allowing holders to earn by providing liquidity without risk.
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