With the ongoing industry slowdown, the NFT rental platform, for rent, made a decision to refuse to call it a day. As a result, in the next month he will strengthen the works and tie up any loose ends.
Launched last year, Rntable aims to exploit the hidden value of NFTs. Primarily, to provide a vehicle for NFT holders to securely rent out their assets to relevant parties, in addition to Low cost entry point For those who don’t want to pay high prices for NFTs.
But despite having a strong framework, Rntable has not been able to get the amount it needs due to the fact that the economy as a whole has been hampered by the downward trend. To compensate, the team has tried to further expand its services by targeting key platforms.
However, the strategy failed to achieve the targets and expectations of their fans. Collectively, these events have made the business model unsustainable, and Profitable will discontinue its services as a result.
1/ I am sorry to announce that the rental has closed.
We didn’t find it a good fit for the product market, and we ran out of runway. After much consideration and observation and discussion, we have chosen to move in this direction rather than provide additional funding or confidentiality.https://t.co/QYIEWAoQ5Y
– emiliano.eth (@emilianobonassi) September 13, 2022
In the future, they will have assets held in the ecosystem Until October 13 Remove anything from the platform. After that, Tenant initiates an emergency withdrawal system, returning remaining assets to the correct wallet.
Read the full announcement >> here
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