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Video Games: IQ Protocol and The Red Village make inroads into NFT leasing

IQ Protocol, an innovative digital asset rental technology, has taken an exciting step by announcing its full integration with the popular blockchain game, The Red Village. This highly anticipated launch on IQ Market on June 19 will mark an industry milestone.

IQ Market offers players of The Red Village the opportunity to list the NFTs of their characters, known as 'Champions', and earn revenue. But what is most revolutionary is that it also allows new players to rent and enjoy the game without owning the underlying asset. Thanks to the power of the IQ Protocol, the technology underpinning this marketplace, customizable rental terms can be set, such as a 'split reward only' option. This means that newcomers can dive into the game, enjoy and win without making an upfront payment, sharing the rewards with the asset owner.

The highlight of IQ Market is its rental feature with no "gas" required, allowing new players to access the full experience of playing to win in The Red Village without having to invest a large amount of funds. In addition, IQ Market users will have exclusive access to an impressive $35,000 USD prize pool for exclusive rental tournaments.

This exciting integration features the participation of several launch partners, including CARV, KOD, BreederDAO, Rainmaker Games, KapitalDAO, Gamic, Rebel Bots, BitMetis, DAOsquare, Whale DAO, PIF Nation, TCG World, Universus, OlaGG, YeSports, Chainge Games, Froyo, Hooga Gaming, Unix, AMGDAO, CGU, Real Player DAO, Muzzle Run, Boomland, IKONIC and EX Sports. Collaboration with these outstanding partners further strengthens the attractiveness and potential of the IQ Market.

IQ Labs challenges the high cost of ownership of NFTs

Despite the growing popularity of non fungible tokens (NFTs) in recent years, their mass adoption has been limited due to limited supply and high ownership costs. Aiming to address this challenge, IQ Labs has developed this technology to improve the accessibility of digital assets, opening up new user onboarding opportunities for blockchain gaming, ticketing, membership organizations, subscriptions and NFT projects. The IQ Market allows users to experience NFT for a limited time, generating additional revenue streams for projects and increasing the liquidity of the NFT market.

Since its founding in 2021, IQ Labs has forged strategic partnerships with more than 50 companies worldwide, collaborating on GameFi, NFT and blockchain subscription projects. Tom Tirman, CEO and co-founder of IQ Labs, expressed his enthusiasm by stating, "A seamless asset rental experience has been the missing piece of the puzzle in this burgeoning sector. We are thrilled to partner with The Red Village and contribute this vital infrastructure to the gaming ecosystem."

The Red Village builds its legacy in NFT games

The Red Village is renowned for its exciting championship fighting tournaments. As a leading Polygon-based win-to-win gaming ecosystem backed by renowned investors in the metaverse such as Animoca Brands and GameFi Ventures Fund, it has captured the attention of gamers. It is the first dark fantasy game on blockchain that offers fun and the opportunity to win. In addition, The Red Village is in an exciting partnership with Blowfish Studios, the creators of the critically acclaimed Phantom Galaxies game, to develop their next title, "The Red Village: Darklands." This new game, inspired by traditional titles such as "RuneScape," "Diablo," "Skyrim," "Elden Ring" and "The Witcher," will also support asset rentals using the IQ protocol.

Brendan Robb, founder and CCO of The Red Village, highlighted the choice of IQ Protocol as a rental partner and praised its outstanding technology and team.

From sponsoring rental championships to leveraging their huge network of media connections, working with IQ Protocol is a sure way to achieve success. TRV is excited to show the gaming community how rental works and continue to build on the close relationship it has developed with IQ," said Brendan Robb.

The Red Village will be the first game to incorporate the innovative NFT rental mechanism offered by IQ Protocol. This will allow players to earn rewards by renting their characters and game elements through IQ Market. It is an effective solution to overcome the cost barrier and open the game to a wider community, giving new players the opportunity to play and earn, while asset owners earn a sustainable return on their in-game investments.

About IQ Labs

IQ Labs is a leading platform in the Web3 collaborative economy, and its NFT peer-to-peer rental technology unlocks the full potential of scarce digital assets at a fraction of the cost of purchase, revolutionizing the way we understand ownership and access on the blockchain.

IQ Labs' vision is to become the go-to partner for Web3 projects, showcasing the utility of their digital assets to a global audience of active and advanced users. No friction, no trust, on the blockchain.

In 2022, the company received investments from prominent investors including Crypto.com Capital, Republic Capital, Kronos Research, Genblock Capital, Axia8, GSR and Genesis Block Ventures.

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