DynaRent

Inspiration

In today's time when e-sports, token gated events, exclusive content gating, coupons and blockchain community is at boom there is a lack of proper and solid infrastructure that allow users to join the wave hassle free. There are a lot of obstacles in the Web3 space order to even join an token gated event or play a blockchain based game. Due to which majority of the users presume blockchain and web3 is technologically savvy and needs specialized knowledge to operate. This pulled a trigger in our minds and we brainstormed to build something that will enable smooth on boarding and reduce any sort of obstacle. To allow users to have a taste of these interesting stuff going around in the space, we believe "Renting Infrastructure" is a primary necessity. Therefore we finally decided to build "Dyna Rent". One of a kind application that allows user to rent digital assets along with Dynamic NFTs ( our primary focus, as it powers most of the events like gaming, token gating, coupons, ticketing etc.) and receive payments in streams powered by Superfluid.

What it does

This is the first in the market that enables renting of custom attributes in dynamic NFTs. Let's imagine a scenario where you are a part of a well known metaverse and hold an extremely rare NFT (e.g. Sword) which has the following attributes and value - Durability (80), Strength (90), Energy (99). Now, a gamer wants to use the Sword to maybe accomplish a mission. He can come up to our platform and check on which attributes he wishes to rent (e.g. Durability). Now, every time he uses the Sword and the "Durability" is reduced, the user is being charged and the money is sent to the owner in streams. As long the user holds the dNFT and continues to leverage the attribute he/she is charged according to that. Once the user returns the dNFT the stream stops and the renter loses his rights over the asset. This is one of the many examples that can be thought of like ticketing, token gating and coupons. We have also included in-app notification system to notify, owner on how his/her dNFT is being used and returned. This allows the user to track the usage of the asset and can revoke the rent in case the renter does something fishy.

How we built it

We built this application majorly with 4 services and SDKs -

Revise SDK - This powered our Dynamic NFTs and made it possible to trigger function on attribute change easy and user friendly.
Superfluid SDK - This powered our payment system and money streaming facility. Superfluid have features that enable us to easily update and change flow rate depending upon the usage of the dNFT.
Moralis SDK - Moralis SDK helped us to fetch NFTs from the connected wallet cross-chain and provide us with the metadata of the NFTs.
Push Protocol - The notification functionality in our application is being powered by Push Protocol.

Challenges we ran into

We had a lot of fun developing this application. At the same time, we also came across a lots of hurdles. Some of the challenges that we came across are -

Moralis SDK - We were unaware that Moralis SDK is not compatible with ReactJS and therefore we had to build the entire application up from scratch in NextJS.
We had issues while installing packages as Superfluid was not compatible with few versions of EthersJS.
Fantom testnet RPC at times was not responding maybe due to user traffic but I received fixes for it by the Fantom tech team via Discord and finally got it fixed.

Accomplishments that we're proud of

We are proud to have completed the project as per planned. This was quite a big project for us and we were unsure if we could pull it off but fortunately we did and it turned out better than we imagined. We have few future plans for this product and want to take it further. We believe this project has a very good potential and a market fit with the type of users we plan to deliver Renting surely will be a flourishing industry in the Web3 space as well.

What we learned

Along the journey we came across a lots of new tools and practices that we were unaware of before. We came a long way fixes bugs and finding solution to problems.

We learned about the Fantom blockchain and was really impressed on how easy it is to develop on Fantom blockchain and fast transactions. I could sense it very well coming from a Ethereum background.
We learned quite a lot about Superfluid and the technology that enables money streaming facility.

What's next for DynaRent

Some of the future goals for DynaRent are as follows -

We will add other assets to our ecosystem like static NFTs, tokens, domains etc.
We will add integrated dashboard for all active money streaming performed in the platform.
We will add chatting functionality that will allow users to connect and chat with other users.