No products in the cart.
- Latest
- Trending
ADVERTISEMENT
In the wake of the ongoing industry slowdown, NFT rental platforms Available for rent, reluctantly made the decision to call it a day. As a result, it will cease operations during the next month and tie the remainder.
Rentable, which launched last year, aimed to tap into the hidden value of dormant NFTs. Essentially, it provides an avenue for NFT holders to safely rent out their assets to stakeholders, while at the same time low cost entry point For people who don’t want to pay a lot for NFT.
However, despite a solid framework, Rentable failed to gain the traction it needed and was further hampered by the general economic overall downward trajectory. To compensate for this, the team sought to further expand its offering by targeting major platforms.
However, this strategy failed to meet the goals and expectations of its backers. Collectively, these events have made the business model unsustainable and Rentable has consequently discontinued its services.
1/ We regret to inform you that Rentable will be closed.
No product market fit found, runway closed. After much careful consideration and conversation, we preferred to move in this direction instead of raising more capital or pivoting.https://t.co/QYIEWAoQ5Y
TLDR
emiliano.eth (@emilianobonassi) September 13, 2022
In the future, companies holding assets within the ecosystem will: Until October 13th Withdrawing money from the platform. Rentable will then initiate an emergency withdrawal system and return the remaining funds to the legitimate wallet.
Read the full announcement >> here
want more? Connect with NFT Plaza
Join our weekly newsletter
Join Discord
follow me on twitter
Like us on Facebook
Follow us on Instagram
*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Decentralized humans, explorers, adventurers.
