Metopia Partners with IQ Protocol to Enable Governance & Incentive Utilities for NFT
Metopia is proud to partner with IQ Protocol, a decentralized money market for digital asset renting and on-chain subscriptions.
IQ Protocol for NFTs 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.
Metopia 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 its platform, NFT depositors and projects can earn rewards (rental fees) on NFTs, all the while knowing that the original asset is safe.
IQ Protocol will work with Metopia to provide the foundation of an NFT rental marketplace. NFT utility is becoming more and more popular, and will soon be a norm. As more communities adopt NFTs as their membership token, the governance and incentive utilities will also become increasingly adopted as features of NFTs.
With IQ Protocol, users of Metopia (projects and members of communities alike), will be able to take advantage of IQ Protocol’s risk-free and collateral-less model for lending and borrowing digital assets. And users on IQ would be able to take advantage of the governance and incentive utilities of the NFTs from Metopia’s ecosystem.
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.
About Metopia
Metopia serves as the governance and incentive layer of NFT infrastructure by building on top of existing NFT projects and enabling governance and incentive utilities for NFTs to address the lack of sustainability and usability of ERC-721 tokens. All NFT holders can build their membership and access their historical data on Metopia.
