In the following short guide we’ll walk you through how the rental system works, a concept which is crucial for you to understand if you’e renting NFTs directly to your personal wallet.
Tip: The LootRush wallet grants you infinite limit, meaning that as long as you pay for rentals you can rent an NFT without worrying about its limit!
Simply put, rental limit is the price of an NFT; for example, the NFT below, Justina, has a $212 rental limit, meaning that it would cost $212 to purchase on, for example, OpenSea.
You can think of the rental limit system as a credit system, where you are eligible for rentals if you have the required credit score, similar to how you need a particular credit score if you want to rent a house, or apply for a mortgage.
Tip: the LootRush wallet is available for dozens of games, rent high powered NFTs without having to worry about rental limit, check the following guide on how to get started with it.
Now, you might be wondering, how can you increase your rental limit? You can increase your rental limit by completing short tasks as seen below:
Tasks and limit rental increases:
There are currently 6 tasks that will allow you to increase your rental limit:
Invite a friend:
You’ll earn $5 rental limit for each friend you invite.
NFT gaming experience:
You’ll be prompted to connect your wallet to prove you have gaming experience, this will unlock all other tasks.
Prove on-chain game activity:
You’ll also be prompted to connect your wallet, we’ll automatically grant you $10 if you have on-chan game transactions.
Credit Card on File:
By connecting your CC onto LootRush you’ll be granted limit as well, unlocking up to $50 in rental limit.
You can send tokens/NFTs to LootRush and we’ll grant you the equivalent rental limit (e.g. you send us a $50 NFT or $50 in ETH and we’ll grant you the equivalent increase in rental limit).
Verify identity (optional):
We respect your privacy and so optionally, we’ll grant you up to $10 in rental limit if you complete KYC or identity verification.
Perfect! Now that you are familiar with the rental limit concept, you can start playing your favorite games with LootRush. If you haven’y already make sure to check our Getting Started with LootRush guide here.