Venn
  • Overview
    • Introduction
      • Terminology
    • How does Venn work
    • Why rent NFTs
    • Why use Venn
    • Guides
      • Create an Account
      • Using external Dapps
      • Rent an NFT
      • List an NFT
    • FAQ
  • technical info
    • Protocol Overview
    • Smart Contracts
    • Addresses
    • Compatibility
    • Tutorials (soon)
      • Becoming fully compatible
      • Enabling functional receipt-NFTs
  • Resources
    • What is Account Abstraction
    • What is ERC-4337
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  1. Overview
  2. Introduction

Terminology

Some definitions before we start

To avoid confusions, here are simple descriptions of some important terms that may have a particular meaning in the context we are bringing. These words will often be highlighted in italics throughout the text so you can come back and check them.

  • Rental: to rent an NFT is to pay a certain amount to temporarily enjoy some benefits related to that particular NFT. A rental can refer to a particular transaction of this sort or to the very object being rented.

  • Rentee: to avoid the ambiguity of the word 'renter' we use the term rentee to refer to the party paying to acquire the rental.

  • NFT owner: the party that has a rightful claim of ownership to an NFT listed for rent or being actively rented.

  • NFT holder: the party marked as the owner of the NFT in the latter's contract at a given time. So a holder could be an owner or a rentee (or an escrow), depending on the rental status of the NFT.

  • Smart Account: an account embedded with some extra functionalities to provide better experience to users.

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