Rent NFTs (rNFT) are tools for new monetization models. NFTs of a collection are always on sale: when a user buys a NFT, he must also set a sale price and will be taxed an amount proportional to the sale price defined. This mechanism reduces speculation on the value of the token by forcing owners to set a price that matches the value they are getting from owning the NFT. The main parameter of the system is the tax rate: low tax rates results in high asset value and low taxes, high tax rate results in cheap asset value but high taxes. Adjust the tax rate for your collection depending on how often you want your tokens to change hands.
This model is best used for objects that cannot/should not be forever owned by one entity. A non exhaustive list below:
- Domain names should be given to the entity that can make the most out of the brand. Squatters that only come for the speculative value of a name would be paying a high tax.
- Curated experience creators may not have the capacity to provide their service to an unlimited amount of people. Using rNFTs will allow them to define the number of experiences they want to create (1 per token) and let the market decide the value they're willing to pay for these experiences. The creator collect revenues streams via taxes.
- Limit access to recurring services by gating with a rNFT. Let's say you want to do weekly free NFT drops for your community, using rNFTs to gate the access (1 claim per rNFT) will allows your community to be composed only of loyal members holding continuously onto your rNFT rather than airdrop farmers that just got a ticket early.
Rent NFTs are based on the Koch NFT Standard.