RentaFi Announce Partnership with Unlockd!

New Cryptocurrency, Crypto Startups, IDO, IFO

Published on: 18.08.2022

Unlockd Announce Partnership with RentaFi!

RentaFi has announced partnership with Unlockd, a decentralized cross-chain NFT rending protocol.

Overview of Unlockd

Unlockd is the decentralized cross-chain protocol that provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World and Gaming through NFT-backed, cross-chain, instant loans with which you keep 100% of holder perks.

How it works

1. Deposit your NFTs

2. Appraise assets

3. Borrow tokens

4. Keep your position healthy

Benefits of Unlockd

Keep NFT utility

Keep full access to airdrops, yield, in-game perks, allowlists and all NFT holder utilities, while using it as collateral.

Highest LTV

Unlockd obtains price data from 6 different crowdsourced and algorithmic appraisers to offer loans up to 85% LTV.

Instant Loans

Don’t waste time waiting to agree with a lender, get an open-ended loan on the spot. No rush to repay.

Enhanced liquidity

Unlockd DAO Treasury protects lenders. Plus, our liquidity framework ensures liquidations at market value.

Partnership Details

The combination of RentaFi and Unlockd is a protocol for the NFT x DeFi space, which facilitates the liquidation of NFT utilities by splitting the value of NFTs into use value and exchange value, while allowing lenders to manage their assets more efficiently. The combination of RentaFi and Unlockd establishes a pivotal position in bridging DeFi and NFT, which have long been leaders in the Crypto space.

Benefits of Partnership

As mentioned above, RentalFi splits the NFTs to be lent into use value and exchange value.

The use value is assigned to the borrower as a Wrapped NFT or a user role that replaces the owner role. The Exchange Value, on the other hand, is given to the lender as an OwnershipNFT, which represents the proof that the NFT was lent. This means that the lent NFT can be redeemed by Burning the OwnershipNFT.

Now, imagine that you are the lender. While lending NFTs to third parties, you can use the NFTs to redeem the lent NFTs to outside marketplaces and NFT lending protocols. In other words, you could obtain additional financing by depositing your OwnershipNFT as collateral with an NFT lending protocol while lending the NFT to a third party.

To give a simpler example, consider a situation where you want to sell that NFT while lending it out. The lender can sell the OwnershipNFT to a third party in the marketplace, and the buyer can later redeem the NFT that was lent by Burning the OwnershipNFT.

Unlockd plays a critical role in the operation of OwnershipNFTs and is essential in designing incentives for lenders.

About RentaFi

RentaFi is Non-collateral NFT rental platform and protocol. Further, the strong point of RentaFi is to separate “Value from Exchange” and “Value from Use”. They can operate external protocols like NFT-Fi due to be higher composability and asset efficiency.

To use RentaFi, experience NFT Utility and release NFT dysfunction! Let’s RentaFi!!

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