Blockchain Gaming

LootRush Opens NFT Rental Market

LootRush banner

The ability to rent an NFT is not anything new. But, the options are generally few and far between, and mostly limited to a specific market. LootRush is breaking that dynamic open by creating a centralized repository of NFTs, available for rental by anyone, no KYC or credit card required!

LootRush is building an NFT service, allowing players to rent NFTs for various web3 game and they are already off to a quick start! With the ability to rent NFTs from dozens of games, LootRush is building something that could only happen with the technology that comes with web3 gaming!

a few Gods Unchained cards for rent with LootRush
a few Gods Unchained cards for rent with LootRush

Rent NFTs from LootRush

Since this isn’t some sort of proxy-based system (the NFTs are actually moving between wallets), this is a fairly trust-heavy experience. And so, with that in mind, players have a rental limit. This determines the value of NFTs they are allowed to have rented out at one time. This limit starts at $10 after completing a short introduction, and can be increased by putting a credit card on file, verifying your identity, and depositing collateral. You can also earn some credit by submitting your wallet address to verify gaming activity. NFT owners who want to deposit collateral will need to email the team to work out the terms.

These are all optional. You can rent out NFTs without needing to do any of the tasks. In addition, LootRush also offers their own wallet app, which allows unlimited rentals! No KYC, collateral, or credit card required! They can do this because this is a custodial wallet and external transfers are disabled completely.That means that LootRush ultimately controls the wallet itself. But, it is still a pretty cool feature. Especially if you just want to test drive a few games without owning any NFTs.

The LootRush wallet works as a browser plugin, so it’s easy to setup and run. LootRush already has NFTs available for three dozen games. These range from Gods Unchained to Axie to Spider Tanks to HV-MTL. And they have plans for continued expansion in the future!

Rental fees can be paid with credit card, or tokens, including AXS, GODS, IMX, and MATIC.

some of the games with NFTs available on LootRush

More About LootRush

The LootRush site is still in its infancy. Filter and search options are limited, as is the NFT selections. But, they seem to be on the right track. The role of a third-party arbitrator for player to player rentals is definitely a valued, empty niche in the web3 space!

Hopefully we can get a whitepaper or some blog posts with more details about their plans in the near future.

Until then, to learn more about LootRush, visit their website, follow them on Twitter, and join their Discord.

Use the code NZ-freetwitter for a free trial

Phil Hall has been a gaming enthusiast since birth and a crypto enthusiast since 2017. He enjoys new discoveries and sharing those with others via blogging and photography. You can follow him on Twitter or read his other articles on Medium.