NFT has seen exponential growth in the last few years. With NFTs like the first tweet to an alien monkey earning millions in minutes, more people are looking to enter the market to make some profit. Regardless of what kind of NFT it is, one thing all NFTs have in common is the excessive rate. 

There can be a high cost associated with purchasing these NFTs. A person cannot even contemplate purchasing even the cheapest ones from projects like Bored Ape and Cryptopunks. 

This is where the NFT rental and leasing come in. Token rentals give individuals a sense of ownership and a chance to enjoy all the utilities NFT offers for a short period of time. 

The Roadblocks in the NFT Industry

NFT has been stymied by a lack of liquidity that has been discussed and publicly known for years. Liquidity is usually used in the security market and refers to the ease with which a product or service can be converted into cash. 

Alternatively, NFT stands for Non-Fungible Token, which represents the digital identity of a product, artwork, or anything created by a creator and placed on a blockchain.

Unlike traditional markets, NFTs are purchased with tokens that represent ownership of the artwork on the chain. Like crypto, NFTs cannot be exchanged for cash; they get swapped. By exchanging an NFT token for another NFT token or fractional NFT tokens, a buyer can get another NFT. This is what lack of liquidity for NFT means. 

NFTs also suffer from another roadblock: most of them sit idle in wallets without bringing any revenue or profit to the owner. Obviously, owners are worried about the volatility and want to hold on to their NFTs to earn a considerable profit. However, what if you could earn rewards while still holding your NFTs?

Additionally, those who do not have pricey NFTs, on the other hand, may easily investigate different NFT/GameFi projects and borrow them at a modest rate to check them out before making any further investment.

To address these issues, several creative ventures are creating liquidity for such assets on the market. Oort Digital is one such venture.

Introducing Oort Digital

Oort Digital is primarily an NFT Rental Marketplace + RPG Battle + Metaverse ecosystem where your NFT’s utility is unlocked. Moreover, their functionality allows you to earn rewards on the same NFT without ever having to sell it. 

Oort Digital has created a secondary economy within the NFT ecosystem that has allowed NFT users to earn money where previously they would have just sat idle. By providing cheap access to some services, such as members-only content, without ever spending hundreds of thousands of dollars. 

The NFT marketplace operates similarly to a traditional market in that lenders and borrowers both benefit. However, lenders here have access to liquidity and can earn interest, while borrowers have fewer entry barriers and can earn more. 

Features the Platform Is Offering.

Player vs. Staker (PVS) RPG Battle

Players on the blockchain can control a fictional character equipped with unique attributes, powers, and weapons. In this way, players can use earned NFTs to make their characters fight, win, and complete quests, resulting in the addition of more NFTs and fiat. 

During gameplay, players can add leasing activities to boost their heroes’ power and help them battle real players. The more players contribute, the stronger they become and the higher the yield within the ecosystem.

Users will also have the opportunity to win exciting rewards by bringing their NFTs into the game.

OortVerse – 2D Pixel-land

Oort Digital’s 2D Pokemon-style Metaverse puts players in a virtual world populated by avatars, pets, lands, planets, objects, and missions that use interoperable NFTs.

Lands will be in-game destinations players can control and own with the NFT token holder attached. The ecosystem will be built around these lands. Spaces such as these will be used for clan gatherings, pets, avatars, and social gatherings. 

Oortverse will provide holders with custom smart contracts that will enable them to sell their digital assets and artwork in the future.

Zero Collateral Rental on integrated NFT Collections

Oort Digital’s NFT Rental Marketplace 3.0 allows borrowers to rent certain NFTs without collateral. Furthermore, with Oort Heroes, users can rent NFT-based avatars of the larger Oort ecosystem without collateral. 

As of now, only Oort Items NFTs (ERC-1155) can be rented with zero collateral. Soon, the platform will allow Oort Heroes NFTs (ERC-721) to be rented out with zero collateral. 

Steam-like dashboard

The dashboard displays the use cases, ratings/comments, borrowing costs, competitions, events, and news for various 3rd-party NFT collections across several categories ( gaming, finance, art, music, etc.) Users may swiftly browse through different collections and borrow the NFT with a single click.

Solar Storm: NFT rent-to-earn (R2E) Leaderboard contest

Oort Digital will launch a regular leaderboard contest for NFT rent-to-earn to reward both lenders and borrowers. The contests will feature a number of funded projects. The NFT collections of the selected projects will be whitelisted for prizes.

You need to choose a team first, then lend and borrow whitelisted NFTs to get SPARKs (loyalty points) and move up the leaderboard.

The leaderboard winners will also receive different prizes based on the position of their selected squad. Using their NFT awards, the winners will be able to gain more in RPG combat and Metaverse in the future.

Advertisement of 3RD Party NFT

By using Oort 3.0, the company will be able to list batches of NFTs for borrowing in one simple click. Third-party projects could use this feature to list hundreds of NFTs for borrowing with a single click. 

Through onboarding of these projects, the platform hopes to monetize itself as follows:

  • The platform will charge small transaction fees on the price that lenders earn. 
  • Additionally, the platform will allow users to deposit collateral into the AAVE protocol to earn interest income. 
  • The platform will distribute most of the interest income back to the borrowers while keeping a portion for itself. 

With the Oortverse, any 3rd party can plug in their game, project, or brand and interact with the ecosystem. 

This will let brands:

  • Advertise their brands
  • Develop their own hero clan
  • Provide players with the option to breed/ mint characters
  • Create price pools with $OORT
  • Create mini-games. 

Financialization

The platform enables NFTs to create super DeFi accounts to accelerate the growth of GameFi and Metaverse. This step will solve three significant problems.

  • Valuation
  • Interoperability
  • User Experience

Despite the fact that NFTs can be priced with the maximum accuracy instantly under the current market structure, setting their price is difficult due to their unique characteristics.  As a result, the platform will continue to grow and collaborate with several partners to solve this problem.

Final Thoughts

Communities and projects have been able to make their NFT collections more valuable and functional by using Oort Digital’s services. Certainly, this will fill the void left by the absence of NFT assets and bridge the financial gap that creators and collectors face on almost every project. 

Official Website: https://oort.digital 

Twitter: https://twitter.com/OortDigital  

Discord: https://discord.gg/neu6NnJR5K   

Telegram Group: https://t.me/oortdigital  

Telegram Announcement Channel: https://t.me/oortchannel  

NFT Leasing APP (on Polygon): https://app.oort.digital/leasing  

Whitepaper: https://docs.oort.digital