OneRare Food Metaverse or Foodverse has joined the IQ protocol to expand its utility in the NFT market. The IQ protocol rental feature is implemented in the Metaverse as a secure way for passive income. This collaboration is expected to be the driving force needed for a web3 journey.
Blockchain and NFT have recently penetrated almost every industry. Metaverse projects using NFTs have become a new era of sales promotion for companies around the world. However, certain industries, such as food and beverages, have limited adoption of NFTs due to their nature.
The situation seems to be changing as OneRare explores international cuisine and builds a dedicated food berth on the blockchain to create space for foodies. This project will slowly move to web3 and may be essential to the food and beverage industry. The Metaverse also comes with virtual restaurants, dedicated games and NFTs to take the industry to the next level.
NFTs and gamification are one of the innovative aspects of this food metaverse. Users can collect food NFTs from around the world and use them as a path to attend real-time events. Metaverse works with renowned chefs and restaurants around the world. OneRare users can get an NFT pass that can be redeemed for meals or attendance at special events from their partners.
For Metaverse games, the game zone has four areas: farm, market, kitchen, and playground. Materials are purchased as NFTs using the ORARE tokens used in the game. Users can farm, trade in the market, or cook as a recipe in the kitchen. OneRare has launched a beta game zone where users can check out these exciting games.
With IQ protocol support, OneRare introduces a new rental feature for NFTs. Thanks to the new integration, users can exchange their NFTs with others without collateral. The IQ protocol security model is responsible for securely lending NFTs.
Users can take advantage of this rental feature for several reasons. First of all, NFT rentals give gamers access to more in-game items without having to invest a lot. Second, you can rent an NFT with a real use case and earn passive income even when you’re not using it.
The IQ protocol is a decentralized money market focused exclusively on digital asset rentals and on-chain subscriptions. This protocol creates an expiring version of an NFT that can be rented without the need for collateral. Unlike other borrow modes, IQ protocol users do not have to worry about losing control of their assets. In addition, this protocol brings many other innovations that can be leveraged in OneRare’s digital asset market.