[DAO:7oexo74] LendIT - an NFT rental system

Governance
1

by 0xbd37019539a3532cb5f22d4ed9690d9eb03b1703

Should the following Tier 5: up to $120,000 USD, 6 months vesting (1 month cliff) grant in the Gaming category be approved?

Abstract

LendIT is a platform for the safe rent of NFT items without required collateral from the borrower’s side. The solution will expand limits for users, who can’t afford to acquire certain NFTs - with LendIT they’ll be able to borrow it for a set period of time.
The key feature of LendIT is an escrow wallet, that’s similar to Metamask, but includes some additional functionality. Borrowed NFT arrives in this wallet and the borrower can use it by logging into the game using the provided wallet. The NFT can not be moved from this wallet and automatically returns to the Lender’s wallet when the covered rent period is over. Borrowers can also send their own NFTs to the escrow wallet, so they can use all other collected NFTs with the borrowed one.

Grant size

75,000 USD

Beneficiary address

0x40439def1d1ad636d162c9253ba977f66ede181e

Email address

yaroslav.panchenko@megadevllc.com

Description

Even tho NFT is one of the hottest trends nowadays, our team has figured out that there is one important part of the whole system missing, which is the mechanism of NFT lending. Let`s imagine a situation, where an average gamer wants to purchase a certain item in the videogame, a conditional sword, to deal tons of damage to his enemies, but it is too expensive for him. In this case, only his wallet will take a lot of damage. Fortunately, the MeGaDev team sees a solution. In our opinion, the player would be happy to rent this item, so they can feel all of its properties and enjoy the gameplay.

Specification

Please find a small pitch deck with all technical details by the link: LendIT - MVP.pdf - Google Drive

Personnel

megadevllc.com production team is going to be working on this project. Here are some examples of their work, as well as some GitHub links:

https://bigtaurus.com/

Roadmap and milestones

Kindly check out the Roadman and milestones stages by the link: https://drive.google.com/file/d/1tWQEpgY1\_9s-9uIcoi6orFY6ec9PBXWr/view?usp=sharing

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

2

Hi there,
Thank you for taking the time to write out a proposal. I do not see any clear breakdown of the personnel who will be working on the project, only examples of previous work. Can you offer a clear breakdown of funds? Can you tell us which NFT’s will be included in this? Do you plan to use in-game NFT’s like wearables, land, or names? For a grant this size I’d like to see a lot more details. Also consider minting your username, as it is the basic gesture that shows you have a stake in the Decentraland metaverse. For these reasons I am voting no. I’d be happy to reconsider changing my vote to a yes in the future if you address some of these above issues. Thank you, Canessa

3

It is nice to see that you put some thought around a proposal however this is a large grant size request without enough detail, and I don’t see a clear roadmap around the project plan. In addition, you haven’t answered prior questions. For me this would be a no at this time. If you can provide more detailed project and pricing specifications, I would also consider revisiting my vote.

4

LendIT - an NFT rental system

This proposal is now in status: REJECTED.

Voting Results:

  • Yes 1% 16,608 VP (13 votes)
  • No 99% 1,483,616 VP (31 votes)