In the world of NFTs, many holders find themselves with inactive assets, such as those from projects like Stoner Cats or Bored Ape Yacht Club (BAYC). Once the initial excitement fades, these NFTs often sit idle in portfolios. Users, however, may be eager to explore newer and more exciting NFT opportunities without losing ownership of their existing assets. This creates a market between inactive NFT holders
MATCH with ⇔ those who admire or seek to utilize these positions.
NFrenT aims to bridge this gap, connecting owners of idle NFTs with enthusiasts or communities looking to leverage these assets for various purposes.
NFrenT introduces Time-Bound Tokens (TBT), a novel concept enabling the transfer and management of ownership based on the timeline of an asset. This opens up possibilities for time-bound assets like subscription-based services, time-limited voting, access to rewards, renting real-world assets, and serving as escrow positions.
Designed as utility tokens, TBT holders have the right to utilize the underlying assets for economic benefits through specific utility functions. Ownership is determined by checking if the present time falls within the user's claimed timeline. Examples of benefits include creating new Axie Infinity breeds, collecting fees from Uniswap liquidity positions, governance participation, and more.
NFrenT's platform empowers users to rent out their idle NFTs using TBTs. This addresses the common scenario where users experience a shift in attention from one NFT project to another or have exhausted the privileges associated with their current NFTs.
Renting is similar to above architecture but just the owner before and after a certain interval is same like the diagram below
Time-Bound Tokens bring transformative ideas to time-limited phenomena, unlocking new possibilities such as:
- Creating automated market makers (AMMs) for swapping TBT tokens across different timelines or trading present and future tokens.
- Revolutionizing the gaming industry by enabling game guilds to rent out their NFTs to players in exchange for earning game rewards.
- Serving as escrow positions, acting as intermediaries to secure assets until predefined conditions are met.
- for subscription based services => avail specific services during the subscription period
- time-limited voting/gov => can enable special abilities during a specific time interval
- time dependent access/rewards => can be used for contributors based on engagement in the community of a protocol which enables them with elite powers
- renting RWAs
NFrenT's innovative approach not only addresses current market inefficiencies but also opens doors to exciting future developments in the intersection of NFTs, DeFi, and gaming.