Rentything ICO Review: The Blockchain AirBnB of Renting Items

What is Rentything?

rentything ico reviewRentything is a platform that allows peer-to-peer rentals. The company calls their project the “AirBnB for Everything.” They are motivated by consuming behavior and technology trends, and they state that the limited storage space, and increased attention to waste as the why the platform is overdue.

The company uses its native token, RentyCoin which is used to help users rent items from owners and participate on the platform.

What Issue Does it Solve?

Rentything’s main product is a platform where users can rent and offer almost anything to users. Additional services allow you to borrow specific items, like cars or bedrooms. But, Rentything is the first project that expands the concept to use any item.

The platform has an escrow system where the payment is held and only given when they receive the owner’s item. Reputation scores are recorded and submitted after the transaction and stays permanently in the blockchain.

However, their company’s publication doesn’t mention restrictions on illegal, license-restricted, or dangerous items. But, it seems that those regulations will take place once the platform launches.

Rentything doesn’t have service fees and only charges 1% of the total rental. This fee can be paid by either the renter or the owner, depending on the owner’s terms. There are no third parties that are involved in the transactions; meaning that every payments and rental are placed on a blockchain.

The platform is in development, and the company asserts that it will launch in late 2018. By 2019, they hope to acquire and merge with its competitors, while also refining their product and creating new features.

Token Sale Information

  • Website: View
  • Whitepaper: Read
  • Max Token Supply: 50,000,000
  • Exchange: 1 ETH = 10,000 RTC
  • Token Sale: February 28th, 2018
  • Telegram Channel: https://t.me/joinchat/GeZvCETTYSsoOI9K7dxztg

Do you have any questions about this ICO?

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Disclaimer: All of the information on this post is to educate our readers. Only invest in ICOs that you’re confident in.

Positives
  • Tokenization: All of the rental items are tokenized. This prevents the waste of used items. Instead, every item will have a value based on RentyCoin. The RentyCoin will be used for the advertising cost, rental fee currency, and the amount it takes to deposit rental items.
  • Trustable Technology: Through the use of blockchain, RentyCoin records all of the information of each transaction through a distributed ledger.
  • First Decentralized Rental Platform: Currently, the project attracts a few thousands of users each month to receive a newsletter even if the website isn’t fully created.

Negatives
  • Rent Protection: How will its Smart Contracts protect owners from getting their rented items stolen from fraudulent users on the platform?
  • MVP Quality: Even though the product is in Alpha version, we would like to see more features out of the platform before seeing if its useful for the long term.
  • Illegal Items: How will RentyCoin prevent the renting of illegal items, drugs, and other materials through its network?

Rentything
2.6

Summary

Mainly, RentyCoin is a platform that allows you to rent and lend almost any item to users participating on the platform. But, we’ll have to see how the ICO responds to illegal items before we can count it as a safe marketplace for users.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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