Rental infrastructure for the metaverse reNFT has recently closed a $5M round co-led by Mechanism and gumi Cryptos Capital (gCC). Other contributions came from Gemini, The Sandbox, OpenSea, Sfermion, Morningstar Ventures, EveryRealm, OP Crypto, and others.
ReNFT is a protocol layer that enables users to integrate renting, lending and GameFi automation to generate profit safely. In this regard, the company’s co-founder Nick Vale states: “Since our founding last year we have been thrilled with how our vision is resonating with the marketplace. There is a huge need for automated, trustless, collateral-free renting of digital assets such as NFTs to unlock new levels of economic activity in the Web3 landscape”.
The team confirmed the intention to use the fund to boost hiring, develop integrations with different blockchains, and expand its product.
Read the full announcement ➡️ here
Learn more about reNFT ➡️ here
