San Francisco, CA, November 9, 2023 - Today LootRush announces the public launch of its two-sided rental marketplace for web3 games, making it the first time anyone with gaming NFTs can list their assets for rent. This pioneering move enables NFT owners to simply and securely list their idle assets and for gamers to fully experience their favorite games with millions of NFTs. LootRush is the first NFT gaming rental marketplace that’s compatible with thousands of games without requiring any developer integration or smart contracts. 

According to an a16z crypto report, 717 new web3 games were launched in 2022, generating 23 times more on-chain transactions than DeFi. With the growth of web3 gaming, there is also an increase in gamers buying thousands of dollars of NFTs, and a need for greater access for those who want to play but don’t want to own assets.

Why Rentals Matter

LootRush's mission is to democratize web3 gaming – making it easily accessible, affordable and fun by removing the technical and financial barriers that exist to offer a more seamless experience. 

Gamers, including those without any crypto knowledge, are able to quickly get access to assets to play and test different games or to supplement their personal assets to enhance their gameplay. By enabling players to rent assets, developers create a more inclusive gaming experience that helps user acquisition and improves user retention.

How It Works

LootRush provides two simple methods for renting gaming NFTs, all without requiring developer integration. The preferred choice is via the LootRush wallet, a browser extension that is compatible with over 90% of the platform’s games, offers an unlimited rental limit and automatic returns. This makes renting quick and easy without requiring any deep understanding of web3 or crypto. Rented assets are placed in the user’s LootRush wallet which can then be synced to the game with a few clicks. The LootRush wallet is compatible with all games that support MetaMask and Coinbase wallet, and has been audited by Zellic to ensure the highest level of security. Users can also deposit their personal NFTs into their LootRush wallet, enabling combined gameplay with both rented and owned assets. 

Alternatively, users can opt for the non-custodial product, renting to their external wallets, which starts with a low rental limit that users can increase through actions like KYC verification or depositing idle NFTs or tokens as collateral. This method allows users to rent any asset on the marketplace, sending it to their wallets while LootRush manages associated risks. 

"We're opening up a new world in crypto gaming by giving players access to millions of NFTs. We're connecting small and big NFT owners with gamers, and making it easy for game developers to bring in new players with a simple, no-extra-work wallet," says Anderson Ferminiano, CEO of LootRush.

“Renting assets on LootRush has been a game-changer. I can now pair rented assets with my own to level up my gameplay. The flexibility and affordability it offers is unmatched,” said Hootwise. 

Since the marketplace’s launch in May 2022, the platform has integrated with eight blockchains and currently has NFTs listed to over 100 games, and is compatible with over 1000 games. New notable partnerships and additions to the site include League of Kingdoms, Mir4, Axie Infinity, The Sandbox, Gods Unchained and DeFi Kingdoms. 

“LootRush ushered in a game-changing era of accessibility for League of Kingdoms. With no developer hours required to list NFTs, forging partnerships was a breeze. By offering trials, we attracted fresh players eager to test the game, reducing entry barriers and enriching the experience for existing ones with a wider array of assets,” said Han Yoo, COO of NOD Games (Developer of League of Kingdoms).

LootRush is poised for impressive growth, with an anticipated annualized rental volume of approximately $6M by the end of 2023. The platform has consistently grown at a rate of 30% per month over the past six months, indicating steady and rapid expansion. Notably, more than 70% of new users are driven by referrals and word of mouth. Equally impressive is LootRush's user retention, with a best-in-class D30 retention rate of 60%+, benchmarked against industry leaders such as Spotify and Netflix. 

To learn more and start renting NFTs, visit https://www.lootrush.com/. 

About LootRush

LootRush is an NFT rental marketplace for web3 games, enabling gamers to list and access NFT assets essential for web3 gaming with compatibility across 1000 + games and 8+ blockchains.  Our mission is to break down the financial and technical barriers associated with web3 gaming, promoting a user-friendly, cost-effective, and enjoyable gaming experience.  Launched in May 2022, LootRush has backers including a16z, Paradigm and Y-Combinator, and is headquartered in San Francisco.