NFT Rentals

Renting Origins:

Renting assets has long been a common practice in the world, with various web2 and traditional asset markets such as real estate, cars, transportation, storage, and even workforce utilizing this concept. Although renting is not new in traditional physical asset classes, it is relatively new to Web3, with assets slowly being introduced through Metaverse Land, IP NFT right contracts, and now Play2Earn gaming assets. In this section of our Whitepaper, we will delve into our mechanisms and how we plan to introduce the renting of NFT assets.

By definition, renting is a system that allows someone to temporarily use an asset in exchange for monetary value. At DinoDash™, we believe in the philosophy that NFTs should have multiple use cases and utilities. As innovators in the space, we are experimenting with rental concepts in an effort to finalize a system that will work best in our ecosystem. In the meantime, here is our current vision of how it will evolve. We feel that renting is necessary for the future of our digital assets because not everyone will have access to the game, as it is restricted to holders. Now, non-holders will also be able to play and earn revenue. This dynamic allows holders to generate income from their NFTs as long as the game continues to have demand.

Renting Mechanism:

We plan to implement two separate rental mechanisms within our game. Each of these mechanisms will be designed and continually improved upon as we progress.

Mechanism One (Day to Day):

Everyday rentals will differ from the tournament rental mechanism, as tournament rentals will be in higher demand compared to day-to-day gameplay. We will establish a cost for our day-to-day rental mechanism, which will vary based on the collected data. This renting process will require an upfront payment, and then the NFT's utility will be assigned to another wallet.

Holders will have the ability to set rental periods, allowing non-holders to choose the duration for which they would like to rent the NFT. Renting for longer periods may offer users discounted rates.

Tournament Rentals:

Because of the expected increased demand during tournaments, the rental mechanism for tournaments will differ from day-to-day rentals and will have custom parameters. This mechanism will allow for a custom 'market-made' price, determined by supply and demand. One example of a tournament rental setting scenario is offering the NFT as a free rental, with the condition that any prize money earned will be split equally between the renter and the NFT owner. Alternatively, another flexible rental mechanism is setting an upfront flat rate. An NFT holder may choose either mechanism at their discretion.

Renting Overview:

Our renting system will be integrated into our marketplace for our NFTs, providing a seamless experience for users looking to rent or lend NFT assets. More details regarding the specifics of renting, including features, terms, and conditions, will be announced soon as we continue to refine and develop our rental mechanisms. Stay tuned for updates and improvements on this front.

Disclaimer:

Please note that our priority remains focused on the development of the DinoDash™ game itself. The rental mechanisms and ideas presented here are subject to change as our vision evolves and adapts to the needs of our growing community. The information provided in this section is intended to give a glimpse of our current plans and ideas but may not reflect the final implementation and is subject to change in the near future.