Wrapped BTC. Wrapped ETH. The wrapping of these 2 tokens unlocked a ton of utility in many markets, especially DeFi. Now wrapping tokens has a new hot trend. Would you like to profit from it?
Earn some passive income? And even an opportunity to win prize money worth $35,000 with ZERO COST? Time to level up the utility of some of our favorite tokens with IQ Protocol. NFTs. Yes, am talking about wrapped NFTs. Interested? Let’s check it out.
What is IQ Protocol?
IQ Protocol takes advantage of a technology we all understand and use already. Then it does something new with it. What tech am I talking about? Wrapping Tokens. Most of us have used wrapped BTC or wrapped ETH so we can use these tokens in DeFi right? And even if you haven’t, you know what it is.
Source: Twitter
Wrapped NFTs are an EVM-compatible version of a token you can use how you want. The real innovation of IQ Protocol is taking this tech we know about and using it in a totally new way. This team knows what it’s doing too. The same founding team that created PARSIQ is the team behind IQ Protocol too.
And the new way to use wrapped tokens is with NFTs, and yes, you can wrap your NFT. Think of the opportunities this opens up. The NFT never leaves your wallet but with a wrapped version, you can earn income with it OR even rent it out to others. A little later, we will show you how to rent an NFT, pay zero fees, and you can start earning while playing your favorite games.
Imagine it. Use game assets that you can rent instead of buy. Make more money on those assets than what you pay in rent and you’ve made money without spending ANY of your own money. Before this new innovation, you either had to trust a 3rd party to maintain your NFT for you like in an escrow account, OR take the risk your NFT may not come back to you.
Now, there’s a decentralized and trustless solution where your NFT is NEVER at risk. That’s even better than Wrapped Bitcoin. There you have a counterparty risk that something happens to BitGo. To be fair, that’s unlikely. But it’s not trustless. It’s under BitGo’s control.
Source: Twitter
Their innovative lending & borrowing platform for NFTs & Tokens has grabbed the attention of Seedify, the leading IGO platform. And IQ protocols have been added to the Solutions Partners Program!
IQ Marketplace Launch
The IQ Marketplace is launching any day now. It’s a true P2P NFT rental marketplace. If you felt like you never had a reason to own an NFT before because you don’t just want to wait for the “number go up”, I understand.
Now NFTs will have more utility and liquidity. In fact, you could become the banker or the leasing company for assets in your favorite game or metaverse. And you can do it without playing those games yourself. This will help increase NFT adoption across the board.
Source: Twitter
As a P2P marketplace, there are flexible terms. After all, if the NFT never leaves your wallet, then you can afford to be flexible right? Your NFT is not at risk. Yet, you can earn income from that Bored Ape or other NFT collection or game token that’s just sitting there. Just think about a couple of ways you can earn passive income on an NFT now.
- Rent out your game NFTs while you aren’t playing.
- Rent out your collection-based NFTs for some of the special use rights like VIP invitations or special download items.
- Rent out your metaverse NFTs so they can build something while your assets go up in value.
The Red Village Competition
We want you to see how great this NFT rental program works. The IQ Protocol does too. So we have a deal going on with the Animoca-backed game, The Red Village. You can rent an NFT to help you play this cool dark fantasy game.
Using the IQ Protocol, you can rent an NFT to play The Red Village and win up to $35,000 including a pool only for players with rented NFTs. Pretty cool huh?
You can play the game on the Polygon network. The public contest starts later in June. Here is some footage from how the tournaments work in the game.
And because you don’t need collateral to rent the NFT or to pay gas to borrow it, you can start playing this game and get the chance to earn money with a completely empty wallet. There are ZERO hidden costs. Just rent and play. Go to the IQ Marketplace, Rent your Red Village NFT, and start playing the game for free.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
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.
