NFT Renting is already here and it is transforming Blockchain Gaming

Deefy
3 min readJun 15, 2022

Deefy is a decentralized protocol that enables financial utilities on NFTs such as Renting, Lending, and Pay Later and with strategic partnerships with hundreds of gaming guilds we are building the future of Blockchain Gaming

As more players gather and exchange digital assets, Blockchain gaming has increased in popularity, providing a steady stream of revenue for game producers while also adding value to consumers. Play-to-earn gaming is the cornerstone of Blockchain Gaming, but unless you have thousands of dollars, you probably won’t be able to participate. The high buy-ins have been a barrier to players. Scholarship programs were introduced in order to bridge this problem but they were not able to guarantee the safety of the NFT assets or provide a scalable solution. Deefy is changing that with its trailblazing protocol.

Say goodbye to NFT scholarships — With Collateral less renting for NFTs made easy, Deefy is making P2E games more affordable across the spectrum. With Deefy’s unique solution owners can put their assets to work by enabling NFT lending and borrowing capabilities. Furthermore, with the introduction of collateral-free NFT rentals, owners may rest assured that their original asset is protected in Deefy’s Vault— rather than in the hands of the borrower.

Key Stats for Blockchain Gaming in Q1 2022

Blockchain gaming represents the second largest share of the NFT markets after Collectibles. However it is also the only sector that saw a significant loss in Q1 of 2022, thus indicating a clear problem statement. But it holds the major share in terms of number of sales and active wallets. Not to mention a significantly strong community. This is a clear indicator of an untapped userbase that can benefit from NFT Lending/Renting solutions to either earn a passive income or to use rented assets in P2E games to earn by playing once the barriers to affordability are removed.

There are examples of successful non-blockchain game economies, but very few of them have achieved the growth and scale of Axie Infinity and Splinterlands. Before the advent of GameFi, in-game virtual assets were often viewed as inherently worthless, outside of brief periods of popularity among users. But with the evolving use of in-game assets as speculative NFTs and thanks to the addition of Deefy’s Renting solution on top of that, these virtual assets will now be liquid and affordable.

In Conclusion, strong in-game economies with a high degree of economic freedom brought by Collateral less NFT Renting can help GameFi weather the difficult market conditions of 2022 and continue to attract new users. This is opening up previously unheard-of opportunities for many gamers, allowing them to earn a living while playing high-quality, enjoyable games.

About Deefy

Deefy is a decentralized protocol that enables financial utilities on NFTs such as Renting, Lending, and Pay Later.

Deefy’s Vision

Deefy’s vision is to create a revolutionary shift by introducing a truly decentralized ecosystem and creator-centric financial instrument for creators, influencers, Gen Z & micro-financiers.

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Deefy

deefy.co is World’s first collateral-less payment infrastructure protocol that allows you to rent, loan, and BNPL on NFTs.