Renting in more detail

Renting with the protocol is fairly straightforward, but some details may still be of interest. Let’s follow the lifecycle of a rental to illustrate:

  1. Renter’s exploration for available assets. They may follow a direct link to the available asset from the game UI, or explore IQVerses and the available assets via the IQ Market UI.
  2. The next step is unlocking their payment tokens, which is approving operations with it.
  3. Setting the rental period and sending (confirming) a transaction. This results in the creation of a new Rental Agreement and passing the Warped Asset to the renter (ownerOf for the Warped Asset returns the renter’s address).
    • Note: A wallet like Metamask doesn’t preview the payment token price (which is shown in the IQ Market UI); it only shows the gas price.
  4. During the rental period, the renter can get eligibility provided by the game or service (typically owned by the IQVerse owner). This is not a part of the IQ Protocol (see integration steps).
  5. When the rental period ends, the Warped Asset is automatically returned to the protocol’s Metahub (the ownerOf method returns the Metahub address).