High entry cost is a common barrier to using blockchain-based applications. Many individuals back down from playing crypto games or using crypto-based apps because of the lack of funds. Satoshi Airlines minimizes the effects of this barrier through its innovative NFT Lease System.
Through the Satoshi Airlines app, users can access a smart rental/leasing system that allows Airplane NFT owners to rent their airplanes to other users. The renters can then use the app as if they own an Airplane NFT, such as earning from the Fly-to-Earn program. Furthermore, the NFT owner will also earn rewards when renters use their leased planes.
Users can click the ONE BUTTON in the Satoshi app to access the Leasing System. The app will direct them to a random rental plane and the NFT owner’s terms. Once the user agrees to the owner’s terms, they have officially rented the plane.
The Leasing System has a credit rating system to show a user’s experience with leasing. First-time users will have a default 5-star rating and will receive 0.1 star for each completed lease agreement. So, frequently leasing planes will grant users a lot of stars and boost their credit rating. Alternatively, failing to comply with the owner’s terms will result in a deduction to a renter’s credit rating.
All the airplanes in the Leasing System are owned by Airplane NFT owners. The owners will set the rental period and rental fee. The rental period is the duration which the renter will have access to the plane. This can range from 1 day to 100 days. The rental fee is the amount that the renter will pay for the lease.
Renting airplane NFTs allows the owners to earn tokens without traveling. When renters receive rewards from the Fly-to-Earn program, the tokens are split between the renter and the owner with 60% going to the owner and 40% to the renter. This percentage and the rental fee compensate the owner for putting their airplane NFTs for rent.
Airplane NFTs also have an annual percentage yield stat or APY. This is an NFTs mining power that dictates how much a user can earn from a particular travel distance. An NFT’s APY varies depending on its level. For example; a common level 1 NFT will have a 1% APY, resulting in a 20 SAP token reward from a 2,000 km flight.
Satoshi Airlines’ NFT lease system aims to empower airplane trading and make the app accessible to a wider market. Earn rewards even without owning NFTs or lease your NFT card. Learn more about Satoshi Airlines and the lease system on our website.