High Potential Polygon Matic Gaming Gem | IQ Protocol

IQ Protocol brings a new twist to the NFT space. The protocol allows you to rent NFTs. I reported already various times about the IQ Protocol. I showed you their campaigns and prize money that you could win. My first video already dates back 8 months when they launched their marketplace. Since launch, they’ve clocked over 60,000 rental transaction.

So, renting NFTs can be a great solution. You don’t need to buy a potentially expensive NFT. Instead, you rent one for a limited time frame and you split the rewards. This maintains the scarcity of the collection, gives a real yield to the owner, and allows low barriers to entry for new players. That’s precisely what the IQ Protocol offers.

The most recent video on IQ Protocol was only 2 months ago. There’s also plenty of news coming from their team. So, that’s what I want to update you on.

1) Polygon Village Startup Support and Arbitrum Grant

The biggest news is that Polygon selected them for their accelerator program. With such a program, Polygon helps out in many fields. For example:

  • Immersive guidance.
  • Strategic support. 
  • 1:1 mentorship. 
  • Access to an elite network.

It’s part of the Polygon Village Startup Support. IQ Protocol made it out of 160 applicants. Only 17 made it into the first cohort. Their IQT token is currently on Ethereum. However, the rumor is the token will move to Polygon, which is where the majority of their activity is currently. The token only has a market cap of $4.4 million, with a current price of $0.40.

So, Polygon already has quite a few NFT marketplaces. They’re closing in on 200 according to DappRadar. Many are active on various chains, not only on Polygon. For instance, OpenSea. That’s one of the biggest players of all in this market segment. Other big names for NFT marketplaces on Polygon include, among others:

If we go back to DappRadar, we can also check the most popular games on Polygon:
  • Yuliverse: 84.06k unique active wallets (UAW) and 88.97 transactions (txs).
  • Matr1xFire: A new game with 47.39k UAW and 173.07k txs.
  • QORPO World: 41.81k UAW and 48.03k txs.

The list goes on, with already well over 420 games listed on Polygon. So, Polygon already covered all bases. However, the NFT renting space is not very well represented. There’s plenty of room to get a solid foot in the door for IQ Protocol, and it’s also rumored they already have exclusive agreements in place with many of these games.

On the back of this news, IQ Protocol also earned an Arbitrum grant. These are difficult to come by and illustrate the market demand for this technology. This is great news and opens up new opportunities for protocol.

To top this part off, the IQT token is now listed at MEXC and Gate.io with the IQT / USDT trading pair.

2) Giveaways and New Partnerships

Partnerships are important for plenty of projects. IQ Protocol is not different. There are quite some interesting partnerships lined up. However, giveaways also play an essential role. For example:

  • They bring new gaming projects to their marketplace.
  • IQ needs utility for both their NFT rental marketplace and the gaming projects. Using NFTs in-game provides exactly that.

IQ Protocol has recently announced new strategic partnerships with Medieval Empires, Satoshi Verse, and Uforika. These games will be able to use the IQ Protocol’s NFT rental marketplace for their games.

Yesterday, IQ Protocol also announced a partnership with Thrust Network to integrate their rental technology directly into their decentralized hub. Another smart move to accelerate adoption.

Finally, they recently received a significant investment from UNFOLD – one of the world’s largest entertainment agencies. Their clients include Netflix, Warner Bros, SEGA, Universal, Amazon, Activision, Ubisoft, and Mattel to name a few. 

One of the advantages is that with IQ, you don’t need collateral. IQ gives the borrower a wrapped NFT, and the owner keeps the original. This approach also gives games total control over the rental parameters.

3) The Next Big Stream

IQ Protocol has a new series in which they either stream or have a space on X. The streaming is live on YouTube, X, and Twitch. The protocol started a series by the name of ‘The Next Big Stream’. These are must-see events for Web3 gamers. For instance, the stream on the 13th of February featured the co-founder of Nifty Island.

On the 15th of February, they had an X space named ‘The Next Big Thing’ They co-hosted this with Particle Ink. It was about ‘Play to Airdrop’ and gamifying mints. So, IQ Protocol is positioning itself as a thought leader for gaming. For example, you can find more samples on their blog. They review trending games like Citizen Conflict.

You can also find weekly roundups on their X. Here’s the one for last week. Among others, it covers news about:

  • Shrapnel. 
  • Heroes of Mavia.
  • Nine Chronicles, and much more.

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Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by IQ Protocol. Copyright Altcoin Buzz Pte Ltd.

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