Alpha - Week Ending July 9, 2022

#alpha

NFT rental contract standard reaches final phase of approval process.

EIP-4907 - is a backwards compatible token standard that allows owners of ERC-721 to rent their NFTs. The concept involves sending the NFT into a smart contract that assigns you as the “owner” and the renter as the “user.”

If you’re using NFTs to gate access or content you’ll probably have to update the logic in the wallet connection. If you want to allow your NFTs to be used by renters, then you’ll grant access to the “user” wallet. If you don’t want to allow it, you’ll grant access to the “user” wallet address only when it is the same as the “owner” address.

You’ll also need a clarify your fair use policies on the user agreement for your NFTs.

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