The main aspects that you should consider before starting integration are:
- What should be rentable?
- What are desirable renting mechanics (limitations, side effects, etc.)?
- What's your economy model, and what would you like to achieve by making the assets rentable?
We encourage you to get in touch with us ([email protected]) on this stage.
Define which Original Asset Collections (or even separate assets from any collection) you make eligible to be rented by users. This is the core of your internal mechanics. To define it, try to answer these questions:
- How do users typically obtain the Original Assets?
- What eligibility will the users get when holding original assets?
- What eligibility will the users get when holding Warped (rented) Assets (it is possible for the eligibility to be different!)?
Example: Legendary Sword and Legendary Shield (original NFTs)
- Users of the game can get them by defeating the Ultimate Boss with a 5% probability or by buying them in a store if they do not succeed in a meaningful period of time. Those types of assets could be made rentable.
- The owner of an original Legendary Sword gets a 50% chance to kill their enemy with one strike. Whereas one with a Legendary Shield has invisible powers for their in-game character.
- The owner of a rented Legendary Sword gets a 25% chance to kill their enemy with one strike (an exemplary penalty for a rented asset). Whereas one with a rented Legendary Shield still has invisible powers for their in-game character.
Define the features that should be supported for renting:
- Are rental period limits needed (i.e., for how long an asset can be rented)?
- Should renting be available during a specific period of time (e.g., seasonal premium renting)?
- Is there logic required to limit some users renting of particular assets or even whole collections?
- Will there be multiple Warpers for the same original collection? How will they differentiate (eligibility, limitations, fee, etc.)?
- Should anything special happen when the rental has expired?
Example: Renting should be available only during the summer, and legendary-tier assets are not allowed to be rented by anyone.
Note: These questions are based on some already implemented renting mechanics. We can also discuss custom mechanics, if needed.
These are questions to consider:
- What fee % would you like to add to the lister's fee?
- Do you need gasless renting, i.e., repaying transaction gas for users, unless market conditions make it too expensive? This can lower the barrier for user onboarding.
- Are there in-game rewards that a renter can unlock/win and that can be divided between the renter and the asset owner? This can incentivize asset owners to list assets that cost "zero" (except for the rewards sharing) and thus lower the barrier for new users even further.
A more general question that helps define your rental mechanics: what's most important goal that you'd like to achieve? Possible answers include (see also Business Cases):
- increase liquidity of some assets and the revenue streams;
- lower barriers for new users;
- incentivize asset ownership;
- add new use-cases for your assets, including partnership relations with other games or services.
We're happy to assist with defining these objectives. You can contact us via [email protected].
Updated 5 months ago
Let's see the integration flow for the IQVerse owner in more detail