NFT Rentals: Why VCs Are Backing a Puzzling New Project

Posted on by American Coins & Gold

NFT Rentals: Why VCs Are Backing a Puzzling New Project
Some non-fungible tokens (NFTs) come with exclusive perks. A project helping holders monetize those benefits – all while maintaining long-term ownership – has raised $1.5 million in a seed round led by Animoca Brands.ReNFT announced the funding round on Friday. In addition to Animoca, the year-old decentralized autonomous organization (DAO) behind the rentable NFT platform is now backed by Lattice Capital, Play Ventures, MetaCartel Ventures, Scalar Capital, LongHash Ventures, SkyVision Capital, Fedora Capital and Maeve Ventures.The Ethereum-based project recently facilitated the lending of Stoner Cats, an NFT collection whose holders have access to a library of video shorts, and Animetas, whose…