IQ Protocol X OneRare Partnership
A blockchain project providing a decentralized money market for digital asset renting and on-chain subscriptions, IQ Protocol is delighted to welcome OneRare into their ecosystem as a newest partnership.
OneRare is the first blockchain platform centered on the global food and beverage industry. Their mission is to ‘foodify’ the blockchain to help food industry make the necessary leap into the world of Web3.
Furthermore, OneRare offers an extensive range of options for users. Chief among them is their NFT platform and gamified foodverse. As for their NFTs, users can claim collectible NFTs of dishes from every cornder of the world. And when it comes to games, their Gaming Zone consists of four play areas: the Farm, Farmer’s Market, Kitchen & Playground. Players can stake $ORARE to farm for Ingredient NFTs at the Farm, trade them at the Farmer’s Market, cook up Dish NFTs as per Recipes in the Kitchen, and get a sneak peek of Foodtruck Wars at the Playground.
Partnership Highlights:
IQ Protocol is excited to support OneRare, providing NFT rental capabilities that will be applied across their extensive platform.
IQ Protocol focus on creating a collateral-less and risk-free model for lending and renting digital assets, such as NFTs. In fact, IQ Protocol offers a host of innovative features that will transform digital-asset marketplaces.
How will this work with OneRare?
OneRare and their users can utilize NFT renting for a number of reasons. But let’s just take two examples. First, NFTs add value to their games and to their collaborations with chefs, restaurants, and brands. With IQ Protocol, gamers will be able to rent out their assets to one another, allowing more gamers to access the range of in-game assets OneRare has on offer. Second, NFT renting will also be important when it comes to real-world use cases. Say, you have an NFT that provides you access to an event. Unfortunately, you can’t attend! Happily, you don’t need to worry that your NFT’s value is being wasted, since you will be able to rent it out to others who can enjoy the benefits of the NFT.
With IQ Protocol these rental and borrowing exchanges are risk-free! How does this work?
IQ Protocol’s model for NFT lending and borrowing is built to be risk-free. Typical modes of lending an asset puts the lender at risk, say, if the borrower 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. Its platform 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, as well as providing a source of passive income without having to sell their favorite assets.
About OneRare
OneRare is the World’s first Food Metaverse, aka, Foodverse. We are creating the first-ever Virtual World for the global Food & Beverage Industry, that celebrates Food in Web3. With an immersive gaming experience, virtual restaurants, chef experiences and more, OneRare is all set to lead Food into the next era. Let’s foodify the blockchain.
About IQ Protocol
IQ Protocol is a blockchain project providing 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, while allowing holders to earn by providing liquidity without risk.
SOURCE:
https://blog.iq.space/iq-protocol-welcomes-onerare-1d2c2f24331
