UNITBOX: The Pioneering Rent2Earn Collateral-Free Protocol Based on the Revenue Sharing Model
The video game industry has seen a massive improvement since the early days. From playing pinball, we moved to electronic entertainment with Electronic Arts, Epic Games, Activision-Blizzard, and Ubisoft. With the advent of artificial intelligence and blockchain technology, we could create a very interactive experience for gamers. Using non-fungible tokens (NFT), investors can monetize exclusive in-game digital content with the help of professional players (scholars). This is the bedrock of the Play2Earn model.
In the Play2Earn model, players who spend money on games can claim ownership of in-game characters such as weapons, gift cards, and skins. Like in The Sims, you can buy anything using a special currency, Simoleons. But the problem with the Play2Earn model was that in-game currency had no real-world value. Although you could have a billion Simoleons, it could not be translated into a billion dollars.
As more players joined the gaming industry, the prices of gaming assets began to rise, and new players had to spend quite large sums just to start playing. Also, the Play2Earn model didn't give an option for those who wanted to earn but didn't want to play.
This problem of initial investment required and a lack of infrastructure for NFT owners to earn saw a huge opportunity for UNITBOX. They came up with the Rent2Earn model, which makes it easy for gamers to access and manage in-game assets, bypassing the initial cost of purchasing them to access any Play2Earn gaming title. This unique model allows NFT holders to lease their digital collectables to high-profile e-athletes or gaming guilds across the globe and earn passive income.
Tokenomics
UNITBOX aims to bring value to four groups of people: guilds, scholars, gamers, and investors, offering new investment possibilities in the GameFi and Defi markets. For guilds, the platform offers NFT asset rentals and delegation in its DAO ecosystem.
Scholars on UNITBOX can enjoy jobs and profit-tracking systems through various ambassadors, airdrop programs, and other tools. Both guilds and scholars get access to an extensive gamer database, as well as liquidity-raising instruments to increase revenues.
For GameFi players, they no longer need to purchase expensive NFT objects to earn money in games. They can start earning by renting out the non-fungibles they need, share profit, and get a chance to become scholars. Other benefits are:
It uses smart contracts that are very visible, auditable, and publicly verifiable. NFT owners lease their non-fungible assets while the payouts are distributed automatically on a daily basis via blockchain mechanics. The investor can call back their non-fungibles at any time and get their investment returned. No loopholes whatsoever!
There is a community that oversees the protocol at a certain level. It doesn't use a hierarchical structure like the corporate ladder to verify and authenticate transactions.
It is simplified for your use. The risk management, smart contracts for NFTs delegation, processes for guild automation, and the user dashboard are all user friendly.
It is backed by top-tier investment firms like Polygon, NEAR Foundation, Harmony, and Swarm. The platform has received grants from Rarible and came up top-3 in the Binance Hackathon.
It is collateral-free. There are no hidden fees or extra charges attached when using UNITBOX.
The platform is non-custodial. This means that investors can call back an NFT if it isn't delivering high percentage yields. Also, gamers and investors can rent NFTs for free and share the profit with the NFT owner.
How Does It Work?
There are four key steps in how the protocol works:
One: The investor connects their wallet and provides the NFT.
Two: Our protocol wraps the NFT and then transfers it to the scholar.
Three: The scholar receives the NFT from the marketplace and starts playing.
Four: The scholar uses the NFT to earn profits to be automatically shared with the NFT owner (i.e. investor).
UNITBOX Staking Model: Sharing Profits with Participants
Partnering with UNITBOX as an investor is a guaranteed way to earn returns on your digital assets. With the security of the UNITBOX protocol, you can rest assured that your digital assets are safe and bringing in returns.
The platform's utility token, apart from governance, is staking using the native $UNIT token. The project treasury will receive a portion of the profits from investors and tenants (7.5% of the success fee), which will then be divided equally among the stakeholders.
All transactions within the system are fully transparent, while the investments and payouts are also distributed via DAO-governed mechanics. This approach helps effectively solve the trust issue and offers a new investment product with an understandable and transparent business model for the entire industry to benefit from.
The CEO and founder, Anton Link, has brought in experienced professionals from technology and investment banking with in-depth DeFi knowledge gathering partnerships from over 50k investors, 300k scholars, and ten guilds.
Gameplan
In Q2 2022, the team plans to finish the development of the UI/UX frontend, launch the native rental marketplace, open alpha-build early access for $UNIT holders, and hold private and public sales rounds for the token.
Q3 will see NFT oracle integrations, security audits, as well as the listing of $UNIT on tier-1 exchanges. And lastly, the launch of the UNITBOX DAO protocol, completion of staking vaults, wNFT rentals for B2B, and the launch of governance mechanisms are planned for Q4 2022.
Conclusion
The GameFi industry is huge, expected to reach a valuation of $50 billion by 2025. At UNITBOX, we are building a community where gamers, guilds, and scholars can interact using a peer-to-peer system. Our Rent2Earn protocol is unique as it is based on the revenue sharing model and has no fixed fees. This enables people to play P2E games without worrying about initial fees. For those interested in earning a passive income with NFTs, using UNITBOX is the way to go.
References
BITCOINIST: UNITBOX Protocol introduces an Innovative Investment
HACKERNOON: What is Play-2-Earn?
BLOCKCHAIN NEWS: UNITBOX Protocol introduces the Play-2-Earn Model in an Innovative investment Tool
TECHBULLION: The Play-2-Earn Model of UNITBOX.