IQ Protocol, a new project launched by the team behind PARSIQ, will lean heavily into NFT, GameFi, and Metaverse ecosystems, unlocking billions of dollars in value for holders.
Tallinn, Estonia–(Newsfile Corp. – December 21, 2021) – The PARSIQ team has outlined use cases for their IQ Protocol across NFT, GameFi and Metaverse projects. Using IQ, holders will be able to rent their digital assets low-risk and without collateral, unlocking a new economy which represents billions of dollars to projects and participants.
Promotional banner for IQ Protocol
The IQ Protocol will new opportunities for investors, players, and developers offering:
- Low-risk NFT lending to others earning yields and rent fees. Owners will be able set custom rent terms which will settle automatically without manual process or human intermediary.
- Multiple monetization streams. Game developers will be able to attract more investors and players with new ways to profit from asset ownership. Asset owners will be able to take advantage of the renting pool to earn passive income while waiting for the right moment to sell. As the project ecosystem grows, owners can also implement other income streams such as taxes, insurance and so on. The player’s and game developer’s imaginations are the only limit.
- Attract more gamers through lower barriers to entry. Gamers can rent NFTs for a lower price so that they can play the game without needing to spend a substantial amount upfront. NFTs can be rented for a fixed duration, allowing players to possibly earn enough to continue playing when they return the borrowed NFT. As a result, game developers will attract more gamers and ensure fairness for newcomers. Meanwhile this creates more renting demand for NFT owners to create a positive feedback loop.
IQ Labs & PARSIQ CEO Tom Tirman comments:
“NFT gaming has gained explosive popularity, however it is still in its infancy stage. Many game developers offer NFTs, but face numerous challenges when enhancing the play-to-earn features. Developing sustainable incentives for users was a pertinent challenge which has been solved by the IQ Protocol.
IQ Protocol has the potential to transform NFT gaming and provide players with new forms of benefits unheard of before. For gaming providers, they can help accelerate the mainstream adoption of play-to-earn NFT gaming – all in a fun and monetizable way.
The project represents our confidence in the future of GameFi and the Metaverse, and our intention to keep moving the space forward. We look forward to being a part of this exciting journey.”
About IQ Labs
Launched recently to take over the continued development and deployment of the IQ Protocol (previously overseen by PARSIQ), this new separate entity will be leading the way in blazing a path towards crypto subscription services and low-risk, collateral-less loans of NFTs and DeFi tokens.
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, providing transaction notifications for end-users. With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations.
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