IQ Space is a universal solution for renting digital assets designed specifically for Web3 games. With IQ Space, game studios and creators can use their in-game assets (such as NFTs) to increase revenue, incentivize players, and attract new audiences.
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What is IQSpace?
With IQ Space, in-game assets have never been more accessible to all players. It is a platform that enables the rental of NFTs and thus expands the capabilities of WEB3. The IQ NFT rental market does not require a deposit.
By making these assets available to all audiences, you can increase interest and engagement in your game as your users come back for different experiences each time.
Best of all, everyone wins, as your players can borrow, rent, experience, and profit from each other.
The initial release of IQ Space accepts only US dollars as a payment method. As the market grows, expands, and integrates new blockchains, reservation and auction mechanisms will be added to enhance the rental experience for users. IQ Space consists of the following components:
- IQ Protocol (blockchain solution);
- IQ Space Market - a universal web application for the rental market;
- IQ SDK (for advanced/deep integration);
- IQ Data Lake based on PARSIQ (for access to protocol historical data and real-time data).
Key Concepts of NFT Asset Rental
To understand how the platform works, it is sufficient to familiarize yourself with the description of the main resource functions and their possibilities of use:
| Warpers | Create a rented copy of the original asset (called a warped asset) that needs to be integrated into your service. It also controls the rental business logic. |
| IQVerse | Represents your service in the IQ protocol. As the owner of IQVerse, you have an associated IQVerse NFT that allows you to modify its parameters. |
| Irrevocable and Risk-Free Rental | An approach where the tenant does not need to provide a deposit to obtain the rented asset and return the rented asset upon its expiration, as it operates automatically without blockchain transaction. |
| Rental Fee | Whenever a user rents an asset, the expenses for payment are divided into 3 parts: a portion goes to the initial owner of the listed asset, another part to IQVerse, and the last part to the IQ protocol. |
Next, you can familiarize yourself with the rules of the basic integration scenario. The service provider creates an IQVerse, creates or uses an existing original asset, and prepares a Warper for that asset. To provide services for the original asset or Warper asset, the service provider then ensures that their platform is properly configured to extend various benefits/privileges associated with the original asset or warped asset, respectively.
After that, the user receives the original asset from the service provider and places it in IQ Space. Then, another user can rent it if there is a corresponding Warper. The renter receives the warped asset, which provides the renter with access to benefits/privileges within the service.
The rental commission consists of 3 main components. The IQ protocol fee is set by the IQ team at the protocol level. The IQVerse fee is set by the service provider at the IQVerse level. The Lister fee is set by the lister, indicating how much they want to receive for renting their asset for a certain period of time.