NFT Rentals
The most common questions about RiFi NFT Marketplace.
Rikkei Finance is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace to help users earn a yield on their digital assets. Our specific focus currently is the NFT marketplace, with NFT rentals as well as NFT based lending & borrowing.
RiFi NFT, powered by Rikkei Finance, is a blockchain enabled, peer to peer marketplace where NFT asset owners can list and offer said NFTs for rent.
There are two: Escrow rental mode, aka Non-collateral mode, and Transfer rental mode requiring collateral.
RiFi NFT Marketplace transacts in BNB.
No. In Escrow rental mode, the NFT remains in "escrow" with the smart contract and does not transfer to the renter's wallet. Therefore NFT being stolen by a renter is not considered an issue. With Transfer rental mode, the renter offers collateral for the rental. So, if the renter chooses to default on the rental, the asset owner would receive the collateral in compensation for losing the NFT, which means "stolen" would not be the best description.
There are no hidden fees or charges.
Asset owners are responsible for the gas fees associated with listing their NFTs. Asset owners will receive 90% of the rental fee, while the rental transaction fee - 10% of the rental fee - is paid to the marketplace treasury.
Renters are responsible for the gas fees upon rental and return of rentals. Under the transfer rental mode, the renter is responsible for the collateral security deposit, which will be returned
NFT rentals are set by the asset owner, based on free-market operations.
Upon completion of the rental transaction, 90% of the rental fee will be transferred to the asset owner's wallet address.
Once the rental transaction has been completed, we are not able to reverse or cancel the transaction.
Upon listing a NFT to the RiFi NFT, the NFT itself is transferred to the platform smart contract. During this period, the asset owner would not show this asset in their wallet and would likely be unable to list that NFT on another marketplace. De-listing the NFT from the marketplace would return the asset to the owner's wallet.
In the current iteration, there is no possibility of fake NFTs being listed in the marketplace, as only NFTs originating from the smart contract of our game platform partners would be recognized and listed.
No. Listed NFTs remain with the marketplace smart contract and cannot be used by asset owners during the listing and rental period.
After a rental period ends, an NFT is automatically re-listed in the marketplace.
NFT Standard Eligible for listing are ERC-721 and ERC-1155 compliant NFTs.
Last modified 1mo ago