LuxWorld Marketplace
The Marketplace is where users can rent/lease or sell/buy their Luggage NFTs, Check-in Node NFTs,... A simple filter and sort function is available in the Marketplace for easy navigation.
Users can buy, sell or rent their Luggage NFTs, Check-in Node NFTs on the in-app Marketplace. However, the prequisite to purchase/sell their Luggage/Check-in Node NFTs is full 100% Durability/Energy.
Users looking to rent can head to the in-app Marketplace. They will need to apply for rental, and after being paired with a leaser, will need to fully agree to the leaser’s rental terms before the rental is approved. Each rental contract lasts for 3 days, after which the Luggage will be returned to the owner for repair.
A Rental Agreement can stretch up to 7 days based on a renter’s credit rating. Failure to fulfill the terms stipulated in the Rental Agreement will result in a 1-star deduction from the renter’s credit rating.
Whenever a renter completes a session, the Smart Contract will distribute the earnings in accordance with the Rental Agreement. The renter and leaser earnings are fixed (TBD). The system will reward renters with 0.1 credit per successful Rental Agreement fulfilled.
Renters are required to complete a set of “scholar” quizzes to increase their credit rating.
Once their rating reaches 2/5, they can start renting. This process ensures they understand all the fundamentals of the app, preventing renters from underutilising/misusing the app and not yielding any returns (i.e. lack of time of check-in, wrong destination...)
Credit Rating is capped at 5/5.
Last modified 4mo ago