IQ Protocol Prepares for the Metaverse

The metaverse grows. Progress towards the next generation of the Internet, which includes the metaverse, is well underway.

From Meta (formerly Facebook) to Roblox, the biggest players in social media and play spaces, among others, are already planning for the digital world to come.

Among these players is PARSIQ, an automation platform that serves as a “glue” between platforms of all kinds — decentralized blockchains or centralized applications. In particular, PARSIQ will enable key and critical communications within the metaverse — ensuring that blockchain data is properly routed and notified in real time. True to its mission of connecting Web3 to Web2, its existence in this new digital reality will ensure that all relevant information that needs to be connected and routed will have the ways and means to do so.

Additionally, revolutionary new technology will unlock entirely new use cases for an increasingly important sector of the blockchain industry — NFTs. Access to NFTs will take on a whole new meaning — with the activation of rental and borrowing capabilities made possible by the new IQ protocol. IQ, which provides a framework for subscription services and risk-free and unsecured lending, will introduce possibilities into the metaverse that are only limited by the limits of the imagination.

While we are still years away from realizing the full potential of the metaverse, PARSIQ’s technology is already at a point where it can support two key requirements of any successful world — communication and economics.

The seamless experience will only be possible if the individual worlds find ways to come together and communicate with each other. PARSIQ is at the forefront of this type of technology. Its two core competencies — realized in PARSIQ’s monitoring solutions and in the IQ protocol — offer different ways of connecting blockchain systems in the decentralized world and make the desired seamless experience possible.

IQ Solution — capitalizing on the growing importance of NFTs

NFTs are hotter than ever. And not just because they have the potential to raise millions of dollars for some high net worth investors, but their usefulness and what they can represent in the digital world is finally starting to be understood by the masses. Therefore, as we continue our progress in the development of the metaverse, it is highly anticipated that NFTs will play a growing and increasingly important role in this new digital world.

To capitalize on this expected growth and adoption, IQ Protocol provides a framework for subscription services in the blockchain world. With NFTs, IQ offers participants the means to use these unique digital assets in any of the digital worlds they can enter.

Whether it’s digital clothing, digital art, digital loot, and more, IQ allows users to lock down digital assets and then take advantage of the encapsulated versions of these NFTs in the various worlds of the Metaverse.

Additionally, with this capability, IQ enables individuals to wrap and lease their own assets to others, enabling a new kind of economy where owners of digital assets can not only own their assets, but make money out of it.

From NFT kicks to a Gulfstream metaverse — IQ will provide users with the means to live their metaverse life in style by being able to use, subscribe or lease the assets that are protocol locked in all of the metaverse worlds.

NFT games take the Play2Earn concept to a whole new level. In many conventional games, players earn points and items by reaching various milestones. However, players don’t really own these items as they are just virtual representations controlled by the game developer. Often these items and points are of no value outside of the game ecosystem.

NFT games completely change that — players can now play to earn NFTs and in-game items that have transferable value outside of the game. This allows players to freely trade their hard-earned NFTs with other players or with cryptocurrency, and ultimately cash out in the real world.

Simply put, NFTs are digital assets that come in many forms, including memes, GIFs, artwork, in-game purchases, and even virtual land. Several companies, such as Decentraland, Wanakafarm, and Sandbox, have now opened up the possibility of owning real estate virtually, allowing players and even investors to own land in a game.

A virtual piece of land in the Decentraland has been sold for over US $ 900,000. Blockchain-based real estate prices in virtual worlds are now increasing as the craze for NFT increases. While this usually means a profit for NFT landowners, most still don’t want to sell their assets. So landowners are looking for new ways to make a profit without having to sell their NFT land.

The IQ protocol allows game developers to offer more monetization options to NFT landowners. Additionally, it will allow game developers to open a lease protocol, where NFT owners can lease their virtual land and enjoy passive income without having to sell the land itself.

As an example, here is how IQ Protocol innovates the terrestrial NFT ecosystem:

• Risk-free land loan to third parties. With IQ Protocol, game developers can create a rental pool that allows players to rent out their land and earn passive income without risk. Instead of just owning land and owning the NFT, owners can rent it out to other players and allow them to use the land for a rent. Choose the rental model daily, monthly or whatever model you want, just like in real life. Sophisticated smart contracts from IQ Protocol ensure your rental terms are executed with confidence. No risk of tenant default or having to claim down payments.
• Get rental returns and fees. Landowners will collect yield and rent fees through smart contracts, giving them peace of mind about the security of their investment. At the same time, the landlords can set predetermined conditions, depending on what has been agreed with the tenant, and the smart contract will execute it automatically, based on this agreement. For example, landlords can set custom logic, rental terms, and rent expiration so that everything adjusts itself automatically, and there is no need for manual processes or human intermediaries. These smart contracts ensure correct, fast and absolutely transparent rental management so that you can focus on the fun aspects of the game.
• Multiple monetization streams. Game developers can now attract more investors by offering to lease land as a new way to profit from land NFTs. Besides just buying and owning the land, investors can also take advantage of the rental pool to earn passive income while waiting for the right time to sell. As the gaming ecosystem grows, landowners can also implement other sources of income such as taxes, property insurance, etc. The imagination of the player and the game developer is the only limit.
• Attract more players by reducing barriers to entry. Some NFT games require users to purchase an NFT before they can play them. Unfortunately, not all players have the capital to do this. With the IQ protocol, players can now rent NFTs at a lower price so they can play the game without having to spend a substantial amount upfront. NFTs can be rented for a fixed term, allowing players to eventually earn enough to continue playing when they return the borrowed NFT. As a result, game developers will attract more players and ensure fairness for newcomers. Meanwhile, it creates more rental demand for NFT owners to create a positive feedback loop.

One of the most common problems with NFT games is that they have more investors buying NFTs rather than players who actually want to play the game. This negates the idea of ​​gambling, which is not. no longer an ideal scenario for the NFT gaming ecosystem. With IQ Protocol, game developers can now attract more players through innovative rental systems. This ultimately means a circular economy that promotes a healthy gambling economy.

Imagine how powerful NFT rental can be when people are building virtual homes, amusement parks, stores, etc. (all NFTs alone) on a field. IQ allows you to track all of this with smart contracts and make innovative economic incentives scalable, fair and traceable in the NFT gaming world.

Welcome to the metaverse!