NREFT

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Inspiration

We are enthusaistic builders who would want to get hands onto building first of a kind products. We also wanted to experiment with the fact that NFTs economic model has to evolve as buy/sell model will make a few NFTs very expensive to afford and also holding a utility NFT and not able to fully realize it while there is another person in need of it for some amount of time , we could use renting in this case.

What it does

Its a marketplace where you can put up your NFTs for renting. And the owners gain passive income while the renters have to pay no collateral and access the NFT for some specific period of time.

How we built it

We used thirdweb sdk and next js for the website. We integrated with Gnosis safe for storing the NFTs that are rented out.

Challenges we ran into

We had a challengs in integrating the safes as it has much other code than whats mentioned in their repo or docs. We also were new to ThirdWeb so integarting the marketplace and the collections took us time.

Accomplishments that we're proud of

We have implemented renting using the innovation of tech that already exists. We have shown out idea to Buildspace people and they absolutely loved it. We are also proud that Hashed VC firm approached us for any fundraising but we have not thought of what to go ahead with them yet.

What we learned

We have learnt much deeper concepts of the blockchain. We understood the concept of EOA and transactions in much wider perspective and also how to figure what the community needs . We have learnt working with web 3 sdks and many things about multisigs and understood that flexible multisigs are still not yet here.

What's next for NREFT

So we look for integrating the new standards and make our own markerplace module as we are utilizing the sdk for this thing. And we want to build in-house contracts in order to store the NFTs as well with a few other algorithms that we have thought of. Approach membership and token gated events ticket holders to tent them up the NFTs on the platform and also for gamers who can rent their NFTs for other gamers to finish the Games. These are a few technical as well as business point of view approaches.