On Jul 26, 2022 reNFT raised $5 million in a seed funding round. The financing was supported by a broad group of investors including Everyrealm, Inception Capital, OpenSea, Longhash Ventures, Zentry, MetaStreet, The Sandbox, Animoca Ventures, Gemini Frontier Fund, Sfermion, emoote, Morningstar Ventures, SkyVision Capital, Fourth Revolution Capital, Mechanism Capital, Lattice, Daedalus Angel Syndicate, Moonfire Ventures, gumi Cryptos, and others. The article provides investor descriptions that highlight metaverse, NFT, and crypto-focused participants — Everyrealm is described as leaders in metaverse and NFT innovation, OpenSea as the largest marketplace for crypto collectibles, and The Sandbox as a user-generated voxels video game based on Ethereum. Other backers listed include venture firms, specialized crypto funds, and an angel syndicate. The article does not include additional operational metrics, product details, prior financings, founding year, or location information. reNFT is a year-old decentralized autonomous organization that runs an Ethereum mainnet protocol for renting NFTs. Its platform lets lenders send NFTs to a smart contract, set daily rental prices and maximum rental periods, while borrowers pay rental fees plus collateral returned on return of the asset. The protocol supports ERC-721 and ERC-1155 tokens and has been used to rent collections such as Stoner Cats and Animetas to grant temporary access to perks. ReNFT positions itself as a way for owners to monetize community and utility benefits without selling underlying NFTs. The team is working on expanding compatibility to Solana and Polygon and sees future use cases in the metaverse for renting play-to-earn items, IP and digital real estate. The company recently raised external capital in a seed round led by Animoca Brands.

Total raised

$7M

Funding rounds

2

Latest round

Seed

Latest activity

Jul 2022