You can now lend your owned NFTs and the NFTs you have issued that are on sale to other users. Users who borrow an NFT can display it in the metaverse. Even when you lend an NFT, the holder shown remains the lender, and you can still resell or transfer it at any time.
Rooms where borrowed NFTs can be displayed
Borrowed rental NFTs can be displayed in the rooms of the 1st and 2nd Residents NFTs. In addition, the Creators' Shop of the 1st Residents NFT can also display issued NFTs that have been lent out.
How to lend
For NFTs on sale under My Page → Issued NFTs, a "Lend" button is displayed, and you can lend the NFT by specifying an X (formerly Twitter) ID. You can also lend NFTs you hold from My Page → Owned NFTs using the "Lend" button. You can take back a lent NFT at any time with the "Recall" button. NFTs listed on the secondary market can also be lent. If you lose ownership of the NFT, the loan ends automatically. Please note that this feature is only for lending NFTs for display in the metaverse, so LAND and Residents NFTs cannot be lent.
Ways to use lending (examples)
Build a museum
You can use the lending feature to build a museum by borrowing works from many other users and displaying them together.
Set up a sponsored space in the metaverse
When people sponsor and build a metaverse space together, each can buy NFT works and lend them, so that multiple owners shape the space. Holder names are still shown, so you can see who sponsored which NFT. And if the space becomes popular, they can also benefit from price increases on the secondary market.
Helping the secondary market
By letting creators keep displaying the NFTs you bought in their spaces, you can have creators help with the secondary market. Creators also receive royalties when secondary sales occur, so both holders and creators benefit.