NFT asset lending adds another income stream to the popular play-to-earn ecosystem
The PYR-powered Vulcan Forged ecosystem offers even more revenue generation opportunities this year with the recently introduced Cedalion program. This game-changer brings NFT asset lending and renting to players and investors alike. Renting out NFTs to earn passive income is now possible, allowing users to earn LAVA with their assets.
Vulcan Forged is a dapp ecosystem, game studio, and marketplace. The platform supports various games, allows players to earn from their in-game activity, and lets them trade NFTs on the marketplace.
Within this ecosystem, the PYR and LAVA tokens are what everybody is chasing. The tokens currently exist on various blockchains, including Polygon, Ethereum, and Binance Smart Chain.
The play-to-earn game ecosystem currently averages around 700-1000 daily users. However, the game is growing fast–and it’s not just due to addicting gameplay. First up, the LAVA referral scheme means you earn double on your referrals until the end of this year for getting your friends on board. Next is the new income generation program entitled Cedalion.
How to become a Cedalion stallion
Cedalion is the name of the program that grants users special NFT privileges. In a nutshell, gamers earn LAVA as a reward for renting out their NFTs. Conversely, borrowers pay LAVA to use or upgrade NFTs if they wish.
Check out these easy steps to start you off on your Cedalion journey:
1. Register for an account here.
2. Choose to rent land as a Cedalion
3. Immerse yourself in VulcanVerse or play the card game Berserk
4. Earn LAVA tokens
5. Trade for PYR tokens
6. Buy land
7. Become a Cedalion manager
8. Repeat until you become a Demi-God.
There are also three crucial plans you must sign up to as an NFT owner:
- Basic plan: 1 PYR, allows rental of 1 NFT
- Epic plan: 5 PYR, allows rental of up to 10 NFTs
- Legendary plan: 20 PYR, allows unlimited rentals of NFTs
Check out this visual to better understand:
Land yourself in the money
It’s important to note that if you rent out an NFT, you keep sole ownership of the NFT. You must also determine the fee for rental. As a renter, you receive all earnings–no taxes or surprise costs. Plus, your renter cannot sell or move your NFT. Finally, you rent out your NFTs for a minimum of 24 hours using daily increments.
As a landowner, you can “hire” a Cedalion to work on your land. However, if the Cedalion finds an NFT, they keep it. You may also participate in staking programs while renting out your plots of land. The Cedalion splits LAVA earned on a 50/50 basis with the owner. No XP is shared during this process. Plus, the Cedalion gets to keep any NFTs found.
Last but not least, don’t forget the doubled-up referral scheme. Vulcanites currently earn double the amount of LAVA by signing their friends and peers up to play in the Vulcan Forged ecosystem.
While the Cedalion program begins with Vulcan Land, it will spread to other games in the Vulcan Forged ecosystem. To stay up to date with Vulcan Forged, please follow on these channels: Discord, Twitter, Medium, Telegram. DappRadar will continue tracking the Vulcan ecosystem, so keep your eyes on the World’s Dapp Store to track your favorite blockchain dapps.
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