What is Renti? Rentii is an NFT Renting Flaform built on Solana. Helps Non-Fungible Token (NFT) holders earn passive income through owning NFTs.
Join Weakhand to learn more about this project in detail.
What is Rentii?
Background Rentii was born
Currently, the NFT market is growing stronger and playing a very important role in reaching Mass Adoption of the entire Crypto market. NFT projects are increasingly appearing, but still encounter many problems as follows:
- NFT Holders: Usually people who own NFTs have two purposes: The first purpose is to own NFTs to access DAO or other NFT utilities. The second purpose is to hold NFTs and wait for the price to increase to sell, but while waiting for the price to increase, there is no additional utility.
- New entrants & smaller players: Some NFTs are very expensive, making it difficult for newcomers and small players to experience NFTs and the utilities and benefits of DAOs.
- NFT Creators: In the past, most of NFT creators’ revenue came from Royalties (Royalties), but now Marketplaces are aiming for 0% Royalties fees, leading to a loss of a large source of revenue for NFT creators.
- NFT gaming & metaverse users: Many people want to own many NFTs to participate in different Games and Metaverse. However, it is quite expensive to own them.
Overview of Rentii
Rentii is an NFT rental platform, connecting people who own NFTs but do not need to use them and want to earn passive income from this NFT and people who need to use NFTs in the short term for a certain purpose. there.
Rentii’s mechanism of action
- Step 1: User A (Renter) fills in the rental fee information, rental term and then lists the NFT he wants to rent.
- Step 2: The Rentii platform checks whether user A holds NFTs from the Rentii Rebels collection. If there is, it will be reduced Transaction Fee (Transaction fee), otherwise 100% transaction fee will be charged.
- Step 3: User B (Renter) rents the NFT by clicking on item approval. User B will have to pay 2 fees: Firstly Rental Fee (Rental fee) will go to user A, 2nd is Transaction Fee (Transaction fee) will be divided between Rentii platform and NFT Creator (NFT Creator).
Rentii’s difference
- Rentii Rebels is an NFT collection created by the Rentii team that, in addition to reducing Transaction Fees for renters, is also used to earn Rent Tokens, which can be sold when Rent is listed on the exchange. Each NFT will have different XP, everyone can earn XP by completing the system’s tasks.
- The higher the XP, the stronger the level in Rentii’s game system (Will be released later), the stronger the level, the more Rent Tokens you will earn.
- Rent Token holders can access many features of the Rentii platform and future game system.
Development Roadmap
Q2 2023
- Launched PvP Game
- Launched Rentii Trait store
- Release Rentii Gamification for users to earn Rent Tokens
Q3 2023
- Launch of Rentii NFT rental program running on Ethereum and Polygon
- Develop many Use Cases for Token Rent
- Integrates with at least 5 Metaverse projects
Q4 2023
- Launched many Mini-Games on Rentiiverse
- Continue integrating at least 5 more Metaverse projects
Core Team
Chien-Jung Chiang: CEO
- Chiang graduated with a doctorate in physics from Durham University in the United Kingdom.
- Chiang used to be head of research at Merck Group – a science and technology company specializing in research in the fields of health and life.
- Chiang has many years of experience in the Startup field, having founded Blay – Application to find travel partners, Travel Mind System – Travel application in the virtual world.
Pratik Saria: CTO
- Currently, Pratik is a senior student majoring in information technology at Delhi Technical University in India.
- Pratik is an MLH fellow at Solana Labs, currently a technical advisor to the MLH team (Hackathon Team).
- Pratik is also a community developer at Metaplex – A platform for NFT creators on Solana. Here Pratik solves technical problems.
Investor
Update…
Tokenomics
Overview of Token Rent
- Name: Rentii
- Ticker: Rent
- Blockchain: Solana
- Contract: 4p249X1rMzZE23nDyqK4z2iVk2cUJs6yzgLR4T3ijYCX
- Total supply: Update…
Token Allocation
Update…
Token Use Case
Update…
Exchanges
Currently Rent is being traded on famousfoxes.
Project Information Channel
Summary
Rentii offers the market a fresh solution for NFTs. The project promises to launch many new features in 2023. Join the Weakhand team to follow the development of this project in the future.