🔐OVRLand renting

OVRLand renting is a fundamental component of the OVER platform. The renting system—managed by smart contracts—is engineered to achieve the following goals: maximizing OVRLand availability for creators, enabling passive income for OVRLand owners, and protecting their publishing rights. Meanwhile, it also solves the “Zombie land problem,” the case in which the owner of an OVRLand loses access to the keys of the wallet controlling it.

At the time of writing OVER has more than 30k individual owners of OVRLand, it would be naif to expect all or even most of them will actively monitor rental requests. This means that a creator who wants to publish in a location owned by someone else might not be able to do that just because the owner of the target OVRLand is not paying attention.

This would make many OVRLand practically unavailable. To avoid this issue and thus maximize the availability of OVRLand for creators, all of the OVRLands that have been sold are rentable by default for one month at a base fee equal to 10$ in OVR Tokens. Once a renting offer is made, if the owner of the OVRLand does not refuse it in 3 days, the OVRLand is automatically rented to the best offerer for one month, while the owner will passively receive the base fee.

The owner of the OVRLand can actively refuse the renting offer, negotiate different conditions, both in terms of price and time. Finally, he can actively set a higher base renting fee.

Learn more on the OVR renting contract here: https://github.com/OVR-Platform/ovrland-renting