X-Talk NFT Leasing Provision

The ability to lease an NFT on Chain A by the lessor and the lessee utilizing it on Chain B. X-Talk allows leasing NFT across any blockchain network. The NFT will automatically be custom actioned when the agreed leasing term completes. This allows the NFT to be leased from other platforms and utilized for various purposes.

Example:

The ability to mint and own an NFT on Solana and lease it on Polygon. The NFT on Solana will be locked, and the lessee will be able to use it on Polygon. The NFT on the destination chain can be used, displayed, and monetized in accordance with the agreed terms.

Technical Workflow

Figure 20 X-Talk NFT Leasing Provision Workflow

Workflow explained

1. User assigns NFT rights to the L1X MultiSig smart contract on the Solana.

2. User initiates the Smart Contract on the L1X Chain that makes the Execution Manager ready in terms of listening to the MultiSig contract initiation events.

3. Execution Manager informs the Rule Engine about Transaction Type. In this use case, it’s ‘L1X_Lease’.

4. Rule Engine verifies the event and forwards it to the Rule Processor.

5. Rule Processor filters and sends relevant information to the Rule Database.

6. Rule Database gives the response for the associated function call.

7. Rule Engine sends an event for an empty struct to the Execution Manager with function/rules and its relevant variable/function parameter details.

8. Execution Manager requests the Execution Register to store the information about NFT transfer to the MultiSig.

9. Execution Register stores the event information and informs Execution Manager.

10. Execution Manager invokes the user and L1X to sign the MultiSig on the Polygon blockchain network.

11. L1X MultiSig Smart Contract triggers an event once the MultiSig is signed by the user and L1X.

12. Rule Engine sends the corresponding event for the transaction struct to the Execution Manager.

13. Execution Manager updates the Execution Register to store information that L1X MultiSig on the Polygon blockchain network is signed by the user and L1X.

14. Execution Registers informs the Execution Manager about information storage.

15. Execution Manager invokes L1X MultiSig Smart Contract on Polygon blockchain network to mint NFT.

16. Event is triggered once NFT is successfully minted on Polygon.

17. Rule Engine sends the corresponding event for the transaction struct to the Execution Manager.

18. Execution Manager provides the information about successfully NFT minting on Polygon to Execution Register.

19. Execution Register stores the information and updates Execution Manager.

20. User is informed about successful NFT leasing on Polygon.