Rentable Call Time’s innovative rental platform – NFT Plaza
Given the ongoing industry downturn, NFT rental platforms, rentable, reluctantly decided to call it a day. As a result, it will wind down operations and tie up any loose ends within the next month.
Launched last year, Profitable aimed to capitalize on the hidden value of latent NFTs. Essentially, NFT owners provide a vehicle, as well as an offer, to securely rent out their property to interested parties Low cost entry point For those not willing to pay a hefty price for an NFT.
Despite a solid structure, however, Profitable failed to gain the traction it needed, which was further hampered by the overall downward trajectory of the general economy. To compensate, the team tried to further expand its offering by targeting key platforms.
However, the strategy did not meet the goals and expectations of its supporters. Altogether, these events have rendered the business model unviable, and would have rendered the service unprofitable.
1/ I regret to announce that Rentable is closing
We did not find product market fit, and ended our runway. After much careful consideration and conversation, we chose to move in this direction rather than fund more or pivot. https://t.co/QYIEWAoQ5Y
TLDR
— emiliano.eth (@emilianobonassi) September 13, 2022
Going forward, those within its ecosystem will have resources Until October 13 To withdraw any from the Platform. Afterwards, Profitable will initiate an emergency withdrawal system, returning any remaining assets to their correct wallets.
Read the full announcement >> here
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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.
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