On April 15, a popular blockchain game, Splinterlands, recorded 2.32 million daily rentals which is also a remarkable milestone in the history of NFT rentals.
Splinterlands is a blockchain game in which players use digital trading cards to earn money. It appears to be a very popular platform.
Splinterlands NFTs cards are limited in supply.
Each player needs to own NFTs cards which are used on the battleground. There are various play-to-earn activities available on the platform for players to earn rewards.
Becoming A Successful Pioneer in The NFT Rental Market
Hitting the market in July 2021, the blockchain game was a pioneer that launched rental markets for NFTs.
One of the most favorite features of the play-to-earn gaming platform is card rentals. In the game, players can earn money by using their preferred cards.
Not only does it allow owners to play for cheap, but it also allows owners to earn extra income from lending their digital cards to other players.
As such, players don’t need to buy their own cards to play and earn money in the games. Games become more accessible to players, as there are many cards, which players can rent for 1, 100th of a cent.
In addition to card rentals, the play-to-earn gaming platform also has other features including titles, packs, totems, skins, and land.
In the next stage of its roadmap, Splinterlands has set to launch validator nodes with a goal of $1 billion burn and rewards.
A Huge Hit
Currently, Splinterlands ranks as the top #1 blockchain game on Dappradar, appealing to hundreds of thousands of users playing the game every day.
Commenting on this achievement, Blockchain Founders Fund Managing Partner Aly Madhavji said,
“Splinterlands has delivered many industry innovations in the blockchain gaming space and continues to deliver the best perks to its players. This new achievement is a significant milestone in transforming the gaming industry.”
To date, the play-to-earn blockchain game also has reached 2 billion games played which is another remarkable milestone in the history of NFT rentals as well.
Jesse “Aggroed” Reich, the CEO of Splinterlands, informed that he and his team, “look forward to achieving more of these in the future.”
NFT Rentals Are The Next Trend in The Crypto Industry
Play-to-earn gaming is the newest craze in the crypto industry. It is a way for players to rent NFTs used in games as tools or creatures.
In short, these NFTs are often required for playing and they give players an advantage. In exchange for renting the NFTs, players pay the lenders a cut of whatever cryptocurrency they earn in games through activities like a battle, farm, or race.
Not only does Splinterlands have a great idea in the NFTs rentals market, but others like ReNFT or the rentable NFT platform, Animoca also are seeing quite a bit of attention from venture capitalists.
The Animoca project has raised around $1.5 million in its latest funding round with the participation of investors Scalar Capital, LongHash Ventures, SkyVision Capital, Fedora Capital, Maeve Ventures, Lattice Capital, Play Ventures, and MetaCartel Ventures.
The NFT industry is still in its infancy and as it continues to grow, rentable NFTs may be the next big thing. From both the perspective of the NFT owner and the renter, there’s no question about the ability to rent an NFT.
The fact is that NFTs are far more than a digital piece of art that’s stored on the blockchain. In the future, this space looks set to grow.
NFTs are actively being rented to give access to exclusive content and events to those who would not have that access which is another feather in the crypto industry.
This also shows that the crypto space continues to grow rapidly today!