Keep Ownership & Utility

In the dynamic world of NFTs, ownership is not just about possession; it's about actively engaging with the asset's ecosystem.

Unlockd's groundbreaking feature, "Keep Ownership & Utility," ensures that while your NFTs are used as collateral for loans, their inherent utilities remain accessible and active.

This means that while the NFTs serve as collateral, they are not transferred away from your control; they remain in your Unlockd Account, which ensures that your digital assets remain active and functional, engaging with their respective ecosystems.

Comprehensive Range of Utilities

While your NFTs are collateralized, you can still engage in a wide array of on-chain utilities, subject to safety and compliance with Unlockd’s protocols:

  • Staking: Participate in staking programs that allow for flexible withdrawal, ensuring assets can be retrieved if needed for liquidation.

  • Airdrop Claims: Claim entitlements and rewards associated with your NFTs.

  • Gaming Utilities: Utilize gaming NFTs within their respective gaming platforms.

  • Token-Gated Communities: Access exclusive communities and content gated by token ownership.

  • Voting Rights: Exercise any voting rights associated with your NFTs in DAOs or other decentralized governance structures.

  • Licensing or Royalties: Continue to receive any royalties or licensing benefits from your NFTs.

Imagine a user leveraging their gaming NFTs in an active loan while still using them in-game. They could be earning in-game rewards and participating in events, all while their NFTs secure a loan.

A user with token-gated community NFTs could continue to access exclusive content and participate in community decisions, keeping their social and governance roles active.

The Unlockd interface clearly displays the available utilities for each NFT in an active loan, providing transparency and ease of use. Users can easily activate and engage with these utilities directly through the interface, ensuring a seamless experience.

Security and Integrity

  • Third-Party Interaction: Engaging with external contracts through the Unlockd Account is as secure as any standard wallet interaction. Responsibility for third-party contract functionality remains external.

  • Whitelist Flexibility: Users can propose new utilities for their NFTs, particularly relevant for dynamic gaming NFTs. Proposed utilities undergo a safety check to ensure they are reversible for potential liquidation scenarios.

  • Non-Interference with Liquidation: The engagement with NFT utilities does not interfere with the liquidation process. If liquidation is triggered, the protocol can retrieve the NFTs from any engaged contracts to proceed with the necessary actions.

Unlockd’s "Keep Ownership & Utility" feature revolutionizes the way you interact with your NFTs during a loan. It ensures that your digital assets remain as versatile and functional as they are valuable, maintaining their role in respective ecosystems and providing continuous utility and engagement opportunities.

Clarifying Misconceptions

Unlockd's "Keep Ownership & Utility" feature is a unique innovation in the NFT lending space. It's important to clarify what this feature does not entail, distinguishing it from other protocols:

  • Not a Replica Issuance: Your NFTs remain original; we don't create copies with similar metadata. The collateralized NFTs are your authentic assets, not duplicates.

  • No Need for Delegate Cash: The collection contract do not need to accept the use of third-party protocols, like Delegate Cash or others.

  • No Need for Collection-Specific Contract Changes: The feature works independently of NFT collection contracts, requiring no alterations or specific allowances from NFT creators.

  • Broad Utility Access: Unlike some protocols that limit utility access to specific airdrops, Unlockd offers an expansive range of on-chain utilities for your NFTs.

  • No Flash Claims: We don’t use flash claims or temporary asset claims. You access your NFTs’ utilities directly, maintaining a seamless user experience.

  • Expansive, Not Restrictive: Unlockd does not limit your NFTs’ utilities to a narrow set of functions. The whitelist is comprehensive, allowing various on-chain engagements.

  • Security Intact: The integrity and security of your NFTs are paramount. They remain as secure as in your personal wallet, without compromise.

  • Wide Engagement Scope: The feature is not confined to certain platforms or ecosystems. It supports wherever and however your NFTs can be used on-chain.

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