As of today, a lending platform is live on Crypto Fight Club called 'Club Lending'. So what does this mean for players, guilds, and play-to-earn managers?
In a completely on-chain lending experience, Crypto Fight Club NFT holders now have the opportunity to rent out their NFT fighters to any player who has linked a wallet to the website through the latest addition to the app: Club Lending - https://app.cryptofightclub.io/lending
For those who own multiple NFTs, this is an excellent way to build a team when those are struggling to find the time to enjoy the play-to-earn games and gain the token rewards.
Accessibility and customization is key. Each borrower can shop around and make the decision to earn some tokens without the initial cost of minting a fighter. In most cases, those playing on another person’s dime aim to earn enough to start a team of their own.
There is no escrow system: not a single human is actually involved in the determined incentive because the automated smart contract will calculate the distribution of tokens every week, according to the initial agreement.
What’s more, these NFTs rented are wrapped, so no assets actually change hands. Instead, a synthetic asset is created for the duration of the loan. The system essentially clones the fighter and gives the borrower the copy with limited rights in order to keep everything secure and iron-clad.
The NFT is loaned with minimal rights going to the borrower. They simply take the synthetic asset and play games with it and are not able to stake or sell the fighter. After the lending agreement matures and comes to an end, the smart contract burns the wrapped asset and concludes the agreement made.
Also, should a borrower not utilize the NFT avatar to play the game and earn, the one loaning can end an agreement early. This allows the NFT holder to lend their assets to others willing to play the game and benefit both parties.
To all guild members reading this post, this is the most efficient system to hit the market. Say goodbye to the middleman and centralized bridges - assets remain safu by the glory of smart contracts and quality-assured blockchain tech.
The first mini-game Chicken Run has been adapted to become one of the most incentivizing play-to-earn games in the industry for time spent. Beyond developing a game people genuinely want to play, there is also the desire for a platform where gamers around the globe can connect and earn rewards collectively.
Next is Fight the Bear, another mini-game carrying a myriad of in-game rewards. Now might be the time to explore the lending system on Crypto Fight Club. And in the future, there is the anticipated PvP modes to look forward to, amongst many other upcoming game modes.
With industry-leading burning mechanisms, runaway inflation is not a concern on the platform compared with other popular crypto play-to-earn games. Lending on Crypto Fight Club will only stimulate the economy by widening access to all gamers.
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