The waitlist to join the pilot test for LootRush’s gaming tokens trading is still open. Join now to become a beta user of a new service on LootRush. Where users could earlier rent NFTs for almost all popular games without any collateral, now they can also sell, buy, swap, and bridge gaming tokens. All this comes at no cost to the users.
The offer opened on 21st August and it stands till today as the waiting list gets bigger by the day. There’s no tentative date as to when no more users will be accepted to join the waitlist and enjoy the benefits of becoming initial testers.
A Private Alpha Release to Transact in Gaming Tokens
Successful users who will become a part of the Alpha pilot release are called Testers. As a part of the gaming tokens exchanging hands, every tester will get $5 as a reward for their first Swap + Bridge. Essentially, the users are allowed to Swap, Bridge, Sell, and buy gaming tokens at ZERO fees from the platform as opposed to the original offering of NFT rentals.
While buying and selling are self-explanatory. Swapping gaming tokens means when two users exchange tokens after equalizing their values on the same blockchain. The bridge is when both these tokens exchange on two different blockchains.
In addition to simply expressing their interest in joining the waitlist, users can also complete a small task to get an invite code instantly. The task is as follows, “Reply your fav token + RT + tag 2 friends to join.”
Users sharing their favorite gaming token and retweeting the tweet while tagging their 2 friends to join will get rewarded. Successful attempts at completing the task will ensure instant access to invite codes for 10 different users for the Alpha release of the gaming token platform. If that’s not enough, these users will also receive a $50 USDC giveaway.
Those who have been a part of such events in the past will resonate with the fact that such private alpha releases might have bugs or set limitations. Depending on the feedback of testers, the LootRush development team will make changes to the platform. This means the final product might be different from what the testers will experience.
The access is only for users from eligible countries, and the zero fee transaction is also set for a limited time period.
NFT Rental System – What it is and How it Works?
On LootRush, users can rent or lend NFTs of more than 1000 games. The NFT owners can earn money from the NFTs sitting idle, and renters can exploit the NFT’s potential to win games. The simple concept of renting in exchange for a fee applies here. From the 1000 web3 games available, users can rent around 100,000 NFTS.
All the rented NFTs are redirected to the user’s LootRush wallet, which is also connected to their game. The wallet is further connected with the game through Metamask, Immutable, Ronin Connect, and many more services. This ensures players can use the NFT in the gameplay and extract its benefits.
Every user signing up to LootRush will have a wallet. All the listed NFTs by a user will also be stored in the platform-based wallet. Since the wallet is compatible with Web3 games, integration won’t be an issue here.
The platform has a daily rental fee, which is payable for the time period chosen by the users. The time period ranges from 1 day to 365 days.
At the time of writing, some of the most popular Web3 games for which users can rent NFTs include;
- Gods Unchained
- Axie Infinity
- Parallel
- Pixels
- Wild Forest
- Pixels Spirit of Mimo
- Apeiron
- Guild of Guardians
- CyberKongz
- Pixel Porks
- Planet IX
- Cross the Ages
And many more…
Either for renting or lending, it’s necessary to connect the game with LootRush. Rest assured, the connection is secure, and no private information is accessed by the platform. The NFT’s connection with the game is administered with a private key, which acts as a proxy for the transactions.
It’s the proxy that signs up a user when renting an NFT, allowing users to play games with the rented asset. The proxy also rejects any other transaction than rental ones, ensuring there’s no transfer of ownership or sale.
To keep things even more transparent, every rental activity is listed on the platform for public access. It remains to be seen whether the same will apply to gaming token transactions.
About LootRush
LootRush is a rental platform allowing users to exchange NFTs on a rental basis. The lenders get a fixed daily fee for renting out their idle NFTs. The renters can use the NFTs in their game as their own for the limited rental time. The transaction is recorded on the blockchain, and its execution is controlled by a predetermined contract. Recently, the platform has also launched a gaming token buy, swap, bridge, and sell system, which is in its private testing phase.
