NeRINE by Neti

NeRINE by Neti

Inspiration

We believe that NFT tokens (apart from the art) have a huge utility potential. But why would you have to buy NFT to use it? You can borrow a bike from your friend without any collateral, you can borrow a laptop or jacket. Why not NFT?

With the rescue comes NeRINE - Neti Rental Interface for NFT Ecosystem. It's the first solution on the market that offers the possibility of safely renting NFTs without the need to pay a deposit while guaranteeing both parties the return of the item on agreed terms.

How we built it

As the hackathon is just a few days, we had to prioritize the work and figure out the scope, which, on one hand, can demonstrate the idea but, on the other hand, define the big picture and future enhancements for the project to be wildly adopted by whole ecosystem without the need to harm/modify existing ecosystem of NFTs.

Challenges we ran into

Ensure that the original owner of NFT will receive back the token based on agreed rules
Makes tokens transfer secured and immune to possible attacks
Keep the NFT standard unchanged while the same time provide custom functionallity

Accomplishments that we're proud of

We built the protocol in accordance with the assumptions we set at the beginning
We effectively use custom policy mechanisms tailored to the needs of our system
We have a vision of what and how to do so that our idea has a chance of wide adoption

What we learned

How to use libraries, to connect to Tezos blockchain
Utilising tzkt API
- Security on Tezos
- Token Standards

What's next for NeRINE by Neti

Creating a "Production ready" NFT Marketplace for renting NFT
Make sure that existing NFTs can be borrowed and still offer the utility of the original token
Build payment flow for the ecosystem