What is NFT Rental(ReNFT)?
An NFT rental involves one person who owns a specific NFT and another who need an NFT for a limited time. Purchasing and collecting NFTs is not inexpensive. Even the cheapest NFTs from famous projects like Bored Apes and Cryptopunks are not available for purchase at a price within the purchasing power of the average individual. This is when NFT rental comes into play. It implies exactly what you think it means: renting out tokens and providing individuals with the feeling of having an NFT (and the utilities that come with it) for a limited time. Why Renting NFTs? NFT rental establishes a secondary market in the NFT ecosystem, as NFTs are frequently kept idle in the user's wallet. It provides a source of revenue for the renter. For borrower, NFT renting offers an inexpensive way to experience some of the NFT's utilities, such as access to special members-only material, without spending hundreds or thousands of dollars to purchase them. Take Stoner Cats for example, i...