The rentable NFT standard “EIP-4907” launched by Double Protocol, an NFT rental market, has passed the final review of the Ethereum ETH 0.34% development team and has become the 30th ERC standard with a status of “Final” (final version) on Ethereum.
This standard realizes the separation of NFT ownership and use rights through the setting of dual roles, and pioneers the function of automatically recovering the use rights upon expiration.
The application of the “ERC-4907” standard will greatly reduce the development and integration costs of utility NFT leases such as games, metaverses, and membership cards, making NFT assets more liquid. It is reported that there are currently 12 projects that have confirmed the application of the “ERC-4907” standard.
