IQ Protocol Onboards Content and Entertainment Project, SATOR

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IQ Protocol to play integral role in SATOR’s approach to transforming the television industry

Tallinn, Estonia–(Newsfile Corp. – December 22, 2021) – IQ Labs have announced that their IQ Protocol will be integrated as a key component of the blockchain-based content project, SATOR.

Sator is a DeFi app that aims to better align the interests of television content viewers with those of content providers. Within the app, NFTs play a unique role in that holders can have a direct influence on the storylines in the TV show and engagement with the creative process. Sator’s integration with IQ Protocol will allow Sator users to lend and borrow NFTs across its content metaverse, creating a richer user experience and a new economy for asset owners.

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Promotional banner for IQ Protocol X SATOR

With IQ Protocol providing the basis for this service, Sator will allow their users-both lenders and renters of NFTs to interact in a collateral-less, risk-free way. Instead of giving the original NFT to the borrower, IQ Protocol mints an expirable version of the NFT, ensuring that the original NFT is always returned to the owner. The terms are governed and executed by trustless smart contracts, removing any middlemen necessary to uphold promises.

This eliminates the possibility of borrowers ending in default, since they are getting an expirable version instead of the actual NFT. The minted “iNFT” can be thought of as a utility version of the original NFT, with specified logic such as the expiry period, how many times the NFT can be used for certain actions, the interest rate and more.

IQ Labs & PARSIQ CEO Tom Tirman comments:

“In the last decade alone technology has revolutionized the television and content industry to the point where it is almost unrecognizable. This journey is far from over, and we’re very excited to announce our partnership with Sator which will bring web3 principles into the television industry.

“We look forward to showcasing the utility their NFTs will bring to their app and to unlocking value for the project and its users.”

IQ Labs & PARSIQ Co-Founder Andrei Kalinowski comments:

“We’re excited to partner with Sator and bring value not only to both companies but also to end-users who wish to rent NFTs risk free for the actual authors and content creators. IQ Protocol made it possible to do this without the need for collateral and with the ability to protect copyright.

“While most people still struggle to realize that NFT renting is the next big thing – we, together with Sator, are already focused on building and integrating both of our products.”

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 risk-free, collateral-less loans of NFTs and DeFi tokens.

Website: iq.space
Blog: iqlabs.medium.com
Twitter: www.twitter.com/iqlabs_official
Discord: www.discord.com/invite/dApUa87ns7
Telegram: t.me/iqprotocol

Media contact

Francis Foster
Communications Lead
+44 7850 687 666
francis(@)parsiq.net

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