In Brief
IQ Protocol has shared that it is fully integrated with the acclaimed blockchain game, The Red Village, which will officially launch on the IQ Market on June 19.
The Red Village is set to be the inaugural game to implement the NFT rental feature powered by IQ Protocol.
TALLINN, ESTONIA — IQ Protocol IQ Protocol, a groundbreaking rental technology for digital assets, has successfully integrated with the widely loved blockchain gaming title, The Red Village The game will debut on the IQ Market on June 19.
The IQ Market provides players of The Red Village with the opportunity to rent out their in-game character NFTs (‘Champions’) for profit, allowing newcomers to dive into the game without requiring prior ownership of the assets. The innovative technology behind this platform, IQ Protocol, permits customizable rental agreements including terms like ‘reward split only,’ enabling new players to rent, engage, and earn without any initial costs, as they share in the rewards with the original asset holders.
Notably, the IQ Market also features a gas-less rental option, meaning that, combined with reward-sharing arrangements, new players can enjoy the complete play-to-earn experience in The Red Village without needing even a penny in their wallets. Moreover, participants of the IQ Market will have exclusive access to a tournament prize pool totaling $35,000 USD, available solely for those renting the assets.
Among the launch collaborators are CARV, KOD, BreederDAO, Rainmaker Games, KapitalDAO, Gamic, Rebel Bots, BitMetis, DAOsquare, Whale DAO, PIF Nation, TCG World, Universus, OlaGG, YeSports, Chainge Games, Froyo, Hooga Gaming, Unix, AMGDAO, CGU, Real Player DAO, Muzzle Run, Boomland, IKONIC, and EX Sports.
While non-fungible tokens (NFTs) have skyrocketed in popularity, their mainstream acceptance has been relatively slow, attributed to finite supply and elevated ownership costs. To tackle this challenge, IQ Labs has developed a technological solution aimed at enhancing access to digital assets, facilitating smoother onboarding for players in blockchain gaming, ticketing, membership services, subscriptions, and NFT initiatives. The IQ Market empowers users to experiment with NFTs temporarily, creating additional monetization opportunities for crypto projects and improving liquidity in the NFT marketplace.
Since its inception in 2021, the startup has successfully formed partnerships with over 50 companies around the globe to collaborate on GameFi, NFT, and blockchain subscription ventures.
“A seamless rental experience for assets has been a critical element missing from this burgeoning industry. We’re excited to join forces with The Red Village to provide this essential infrastructure to enhance the gaming ecosystem,\” stated Tom Tirman, the CEO and co-founder of IQ Labs.
The Red Village, celebrated for its competitive fighting tournaments, is a play-to-earn platform based on the Polygon blockchain, backed by significant metaverse investors like Animoca Brands and GameFi Ventures Fund. It stands out as the first dark fantasy gaming experience on the blockchain that combines enjoyment with earning potential. As part of its efforts to grow its dark fantasy universe, The Red Village is collaborating with Blowfish Studios, known for their AAA-rated title Phantom Galaxies, to create a new game titled “The Red Village: Darklands,” which draws inspiration from classics such as “RuneScape,” “Diablo,” “Skyrim,” “Elden Ring,” and “The Witcher,” and will incorporate asset rentals through IQ Protocol.
Brendan Robb, the Founder and CCO of The Red Village, remarked, \”We have chosen IQ Protocol as our rental partner because their technology and team are outstanding, and their commitment to making this product a success is undeniable. From hosting Rental Championships to leveraging their extensive media connections, collaborating with IQ Protocol is a definitive path to achieving success. The Red Village is thrilled to demonstrate how the rental system operates to the gaming community and to continue nurturing the strong partnership we’ve built with them.\”
With its pioneering approach, The Red Village will be the first gaming title to utilize IQ Protocol’s NFT rental system. This means players can potentially earn rewards through leasing their in-game assets or characters via the IQ Market. This setup effectively eliminates cost barriers, granting wider community access to the game and offering asset holders a consistent return on their investments.
About IQ Labs
The IQ Market is crafted for the Web3 sharing economy. Its peer-to-peer NFT rental framework empowers users to realize the full potential of rare digital assets at a fraction of the original purchase cost, fundamentally reshaping the concept of on-chain ownership and accessibility.
IQ Labs aspires to be the preferred partner for Web3 initiatives, demonstrating the utility of their digital assets to a global network of active and engaged users seamlessly and trustlessly on-chain.
In 2022, the company successfully attracted investment from prominent backers, including Crypto.com Capital, Republic Capital, Kronos Research, Genblock Capital, Axia8, GSR, and Genesis Block Ventures.
For more insights into IQ Labs and the IQ Market, kindly visit: https://iq.space/
About The Red Village
The Red Village launched a competitive autobattler strategic dark-fantasy game called Tournaments in March 2022, following two successful NFT sales in November and January.
With over 4,000 ETH traded on secondary markets and a vibrant, engaged community, The Red Village has emerged as a standout success in the blockchain gaming landscape during 2022 and 2023, proving that it is indeed possible to enjoy gaming while also generating income in a sustainable manner. Having distributed over $2,000,000 USD in game-related earnings, The Red Village exemplifies how a strong community combined with high-quality gameplay and a solid concept can create a winning formula.
The game draws thematic inspiration from well-known dark-fantasy series such as Diablo, Elden Ring, The Witcher, and indeed, Runescape. Upcoming game modes include Darklands, a multiplayer ARPG that is currently being developed in a long-term partnership with Animoca Brands and their flagship studio, Blowfish. Darklands is slated for release in 2024.
For additional information about The Red Village, please visit:
https://www.theredvillage.com/
For any inquiries regarding this press release, reach out to:
Francis Foster, Communications Lead, IQ Labs
Email:
Linkedin: https://www.linkedin.com/company/iqlabs/
Twitter: https://twitter.com/iqlabs_official
Instagram: https://www.instagram.com/iqprotocol/
Telegram: https://t.me/iq_protocol
Website: https://iq.space/
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