WeRent is a platform designed to enable the renting and lending of non-fungible tokens (NFTs) across various categories. It allows users to explore NFT utilities and benefits without committing to a purchase, offering flexible access for specific time periods. By fostering new economic opportunities, WeRent aims to expand NFT utility and accessibility within the growing digital and metaverse ecosystems. ^[1]

Overview

WeRent is a platform designed to facilitate the renting and lending of non-fungible tokens (NFTs), allowing users to access and experience the utilities associated with specific NFTs without committing to a purchase. It caters to a variety of use cases, including art, gaming, digital fashion, virtual real estate, and event access.

The service aims to enhance the utility of NFTs by enabling temporary access while creating income opportunities for both renters and lenders. With the growing popularity of play-to-earn (P2E) and player-versus-player (PVP) games, gaming-related NFTs, such as in-game assets and digital accessories, are expected to be in high demand. Additionally, as the metaverse expands, WeRent envisions increased NFT usage for digital spaces, event tickets, and virtual goods, driving new economic possibilities in the digital era. ^[1]

How to Lend NFTs

Collateral-Free

WeRent allows users to lend NFTs without requiring collateral from renters. Users connect their digital wallet, select the blockchain network, and navigate to the "Lend" section to choose an NFT to list. Lenders set terms such as category, rental duration, payment currency, and daily fee. After finalizing the details, the NFT is listed for rent by approving the transaction, which includes a gas fee. The NFT becomes available on WeRent without any collateral requirement. ^[2]

Collateralized

WeRent’s collateralized option provides additional security by requiring renters to deposit collateral. Users connect their wallet, select the blockchain network, and choose an NFT to lend through the "Lend" section. Lenders specify terms such as category, rental duration, payment currency, daily fee, and collateral amount. The NFT is listed after the transaction is approved, including a gas fee, and becomes available with the specified collateral requirement for added protection.  ^[3]

Staking

WeRent’s staking system enables users to stake WE Tokens and earn rewards through a defined Annual Percentage Rate (APR). Stakers can participate in pools with specified minimum and maximum staking amounts, along with potential lock-in periods that restrict token withdrawals for the duration of the stake. Rewards are calculated based on the amount staked, staking duration, and the pool’s APR, ensuring proportional earnings. The staking process emphasizes fairness and transparency, with clear formulas guiding reward distribution, and encourages long-term participation by rewarding users who contribute to the ecosystem. ^[4]

Lucky Draw

WeRent's Lucky Draw offers an engaging way to participate in the platform, with guaranteed rewards for each participant. To get started, users need to connect their MetaMask wallet, ensuring they have Klaytn (KLAY) for gas fees and WE tokens to purchase scratch cards. After buying a scratch card, users can reveal their prize by scratching the card, with prizes falling into three categories: Basic, Medium, and Boom. The system uses Chainlink VRF (Verifiable Random Function) to ensure fairness and transparency, guaranteeing that each prize is random and unbiased. ^[5] 

Use Cases

WeRent enables users to access the utilities and benefits associated with various NFTs by renting them. For instance, Project GodJira NFTs provide access to global events and exclusive merchandise, which renters can enjoy while lenders earn passive income. Similarly, STEPN NFTs, designed for a Web3 fitness app, allow users to generate income during periods of inactivity by renting them out. This model highlights how WeRent facilitates utility and income opportunities for both renters and lenders. ^[6]

Tokenomics 

WeRent Token ($WE)

WeRent operates with the WE token, which is used within the WeBuy ecosystem for various purposes, including governance. WE is deployed on the Klaytn Mainnet and serves as the foundational token for the platform's fractionalized NFT ownership model. By tokenizing NFTs through KIP-7 and ERC-20 standards, WeRent facilitates joint ownership and enhances the NFT market's accessibility. ^{[8] [13] [14]}

Token Utility

Incentive

• Used for trading on decentralized and centralized exchanges.
• Rewards users through staking and liquidity provision.- Can help subsidize service fees within the ecosystem. ^[14]

Governance

• Staked to gain voting rights on proposals related to platform development, pool creation, and the allocation of Treasury funds.
• Allows for the burning or buyback of tokens via governance votes. ^[14]

Allocation

The token distribution for WeRent is as follows: 25% (625,000,000 tokens) is allocated for liquidity, LP, and staking incentives; 20% (500,000,000 tokens) is designated for token sales; 5% (125,000,000 tokens) is reserved for the team; 40% (1,000,000,000 tokens) is held in the treasury; 5% (125,000,000 tokens) is allocated for marketing; and 5% (125,000,000 tokens) is set aside for development. The total token supply is 2,500,000,000 tokens. ^[7]

Partnerships

PolyWatch

WeRent has partnered with PolyWatch, a platform blending blockchain technology and luxury watch collectibles. This collaboration aims to enhance the ownership experience of PolyWatch NFTs, allowing users to unlock exclusive features and earn rewards. The partnership leverages PolyWatch's expertise in the blockchain and watch industries, creating a unique environment for both NFT and luxury watch enthusiasts. ^[12]

Doge 6 Packs

In collaboration with Doge 6 Packs, WeRent integrates a Play-to-Earn gaming model that allows players to earn rewards through NFT-based gameplay. Players can mint unique NFTs, earn $Doge6P tokens, and access exclusive rewards by advancing in the game. This partnership supports WeRent’s vision of providing entertainment and profit opportunities within the NFT space, fostering a community-driven gaming experience. ^[11]

L7

WeRent has partnered with L7, a decentralized exchange (DEX) platform, to enhance its ecosystem. This collaboration focuses on improving liquidity, transaction efficiency, and user engagement. By leveraging L7’s technology, WeRent aims to provide a more secure and efficient environment for its users, bridging the gap between centralized and decentralized exchanges in the evolving DeFi sector. ^[10]

BitGert

WeRent’s partnership with BitGert utilizes the latter's high-performance blockchain technology to improve transaction speed and cost-efficiency. By integrating BitGert’s zero-cost gas fees and enhanced security features, WeRent aims to create a more user-friendly and scalable platform for its community. This collaboration supports WeRent’s long-term vision of improving decentralized financial services. ^[9]