Rent

Renting NFTs is a popular mechanic in the world of blockchain gaming. It allows users to temporarily acquire access to an NFT in exchange for a rental fee. Using the EIP-4907 standard, owners can designate a user as a renter and set a rental duration for their NFT.

During the rental period, the renter can use the NFT within the ecosystem, such as playing a game and earning rewards or breeding and receiving new offspring. However, the renter cannot transfer the NFT or use it in ways outside of the ecosystem.

The access is automatically revoked at the end of the rental period and the renter loses control over it. Standard states that the owner can revoke access at any time too, however this feature can be excluded or made so the server decides if he can reassign the renter before the previous rent is expired.

Renting NFTs can provide benefits for both owners and renters. Owners can earn revenue from their NFTs without having to sell them, while renters can enjoy the benefits of using an NFT without long-term commitment and investment. Overall, renting NFTs has the potential to create new revenue streams and opportunities in the NFT ecosystem.