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Another way to attract more users to the Joggerz app is by offering a rental system. Based on smart contracts, Joggerz' rental system provides a secure and reliable way for users with lack of initial capital to join our movement.
By putting their NFTs for rental, lazier owners, or ones with multiple NFTs, can lend their NFTs and get back part of the earned tokens in the form of an interest rate. Without the need for collaterals, new users can easily start using the application and try out Joggerz with no burden.
To rent an NFT, owners must set a few conditions:
- 1.Time: How long will the NFT be rented
- 2.Interest Rate: How much will owners get from all earnings
- 3.Patches: If borrowers can add their own patches or not
- 4.Ability to revoke: If owners can take back their NFTs at any time they want
When reaching the last day of the contract, NFTs are automatically sent back to their owners without the patches. If a user wishes to add a patch to the borrowed NFT, they must pay a premium for the automatic detachment of the same.