Rentything is developing a platform to facilitate peer-to-peer rentals; the company's slogan is “AirBnb for Everything.” The company is motivated both by trends in technology and consumer behavior, and they cite decreasing materialism, limited storage space in urban areas, and increasing attention to waste as signs that such a platform is overdue.
The company is also developing its own cryptocurrency, the RentyCoin, which will serve as the platform's sole currency.
Rentything is being developed by a relatively small but highly experienced team with impressive educational credentials. There are eight employees, with backgrounds in finance, software development, marketing, and technical writing, as well as two advisors with decades of finance and management experience. The company is based in Hong Kong, and has been working on the Rentything project for approximately one year.
Rentything has received a great deal of coverage from websites devoted to ICOs, and the company holds above-average ratings on ICOMarks and TrackICO. They have begun to establish a presence on social media, and have gained over 1,400 Twitter followers in just a few months. Rentything's executives have also presented their work at several conferences in Hong Kong devotes to blockchain technology.
Rentything's sole product is a platform that will allow users to both offer and rent virtually anything to other users. Other services allow users to rent specific items, such as spare bedrooms or cars, but Rentything is among the first to expand the concept to include any item.
The Rentything platform will include an escrow system where each renter's payment is held and only sent once they receive the item from its owner. Reputation scores submitted after each transaction will be stored permanently in the blockchain.
The company's publications so far don't mention any restrictions on dangerous, illegal, or license-restricted items, but it seems likely that these will be in place when the platform is launched.
Rentything will charge no service fees, and charge only 1% of the rental's cost, which can be paid by either the owner or the renter, depending on the terms put forth by the owner. No third parties whatsoever are involved in any Rentything transactions; all rentals and payments are recorded on a blockchain.
The platform is currently in development, and the company's roadmap states that it will be released in the fourth quarter of 2018. Beginning in 2019, the company hopes to merge with and acquire its competitors, while also continuing to refine its own product with new features.
RentyCoin RTC ICO Details
The RentyCoin RTC pre-ICO will begin on February 28, 2018, and the full sale will begin on April 25th and last for four weeks. A fixed limit of 50,000,000 RentyCoins will be sold; the company doesn't mention any soft or hard caps for sales. It is an ERC-20 based currency, and thus can only be bought using Ethereum. The company notes that following its ICO, the currency will be available on numerous public exchange websites, but it doesn't name which ones.
Rentything is requiring ICO participants to have their identity verified, in compliance with know your customer regulations meant to prevent money laundering. This is an important step, since many companies ignore these laws only to face legal challenges.
The RentyCoin RTC ICO Verdict
Anyone interested in using Rentything's platform will need to buy their currency, but the token may not have much to offer investors seeking returns. The company doesn't mention any program to buy back the currency from open markets to control its supply, and hasn't offered any dividends to share their profits with token owners.
The RentyCoin RTC value will be directly tethered to the popularity of the platform, which will probably prevent major losses but also major gains. Rentything's product offers an innovative solution that will likely appeal to many people, for both economic and environmental reasons.
However, the fact that it requires the purchase and use of an internal cryptocurrency will likely alienate many users who are not already passionate about this technology.