Off the reverse of its successful investment round which took place last month, NFT renting protocol reNFT is basically now expanding its non-fungible prowess by partnering with cross-chain NFT lending platform Unlockd. Through cooperation, the gap between TradFi and NFT rentals will be bridged in the most proficient way possible.

A New Era for Web3 Users

Unlockd is a platform that usually allows NFT enthusiasts to acquire assets in the easiest way possible. Through its ‘buy- now- pay- later technology, users can generally take out an instant loan against an NFT asset while keeping the utility of the collateral. As with any kind of asset, this means that users can seamlessly acquire a sought-after NFT and then rent it out to instantly induce a passive income. This passive income stream is meant to make some repayments effortless.

Although the combination of reNFT’s NFT rental protocol and Unlockd’s NFT liquidity provision will be salutary to individual users, the cooperation has also been formed with the wider Web3 industry in mind. More specifically, reNFT and Unlockd intend for gaming orders, scholars, investment DAOs, and all other agents of the metaverse, to benefit from the collaboration through its provision of NFT liquidity.

The result will enhance the company’s asset utilization in both the short and long run, and help devise sustainable growth openings which trump the current bear market.

A Cross-Chain Protocol

In addition, Unlockd’s services aren’t bound to just one blockchain, nor one area of Web3. This means that enthusiasts of art, DeFi, the metaverse, and gaming, can all profit from its cross-chain protocol to emulsion their wealth with NFT- backed loans whilst maintaining 100% of ownership gratuities.

Paired with reNFT’s white label integration, collateral-free in-house renting, and complete scholarship automation, this means that the cooperation will provide a whole wealth of liquidity that will transcend any Web3 borders.

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