Our collateral-free reward share solution enables peers and guilds to automate the scholarship model that first appeared in Axie Infinity.
In this scholarship model, NFT owners rent out their NFT and share the earnings with gamers, also known as the 'Scholars'.
Axie Infinity doesn't provide a native in-game function to do this and therefore giving access to the NFTs, keeping track of earnings and payouts are all manual processes. As you can imagine, this is very time-consuming.
reNFT works closely together with major guilds to solve these inefficiencies by automating the whole process. We proudly present our reward share solution.
When a game integrates reNFTs reward share solution, guilds and peers are able to rent out their NFT and share the earnings with the gamer automatically.
Jack owns a Galaxy Fight Club NFT and wants to earn rewards from the game, but doesn’t have time to play. By playing the game, you can earn $GCOIN. Jack decides to lend the NFT via the reward share solution of reNFT. While putting the NFT up for rent, Jack determines the reward share split percentage. In this example, we use 50/50.
Sam rents the NFT and starts playing the game. After playing for a week, he earned 100 $GCOIN. Because of the reward share split, Sam receives 50 $GCOIN and Jack does too.
You might want to share game rewards with third parties such as managers. While renting out your NFT, you can add numerous wallet addresses to split the game rewards with.
- Lender: 45% of earnings
- Gamer: 45% of earnings
- Manager: 10% of earnings
If you want a specific person to be able to rent your NFT, you can use the whitelist feature. While putting your NFT up for rent, add the wallet addresses you want to be eligible to rent the NFT.
This is a very useful feature if you want to work with specific gamers you collaborate with.