Rentfuse has announced June 10 as the launch date for its NFT renting protocol on the Neo N3 MainNet. Users will be able to start lending their NFTs or rent others using the collateral-based Escrow mode via the Rentfuse website.
Escrow mode allows borrowers to rent NFTs by paying the rental fee plus a collateral deposit specified by the lender. If the NFT isn’t returned by the end of the rental period, the lender is awarded the collateral.
The team will launch with no additional renting fees for rental operations. Lenders and renters will only need to pay for the system fees associated with contract execution on Neo.
In addition to the Escrow mode, Rentfuse will also introduce a Proxy mode for ownership safe renting. Proxy mode works with NFT contracts that adhere to its protocol and requires only a small proxy fee to be paid for rental. This mode will become available as collaborative projects integrate with the protocol.
The original announcement can be read at the following link: