- How does this work?
- CryptoPunk owners sign a special transaction. This transaction follows the tenant rights protocol which gives sole permission to display the cryptopunk as your Avatar for a fixed period of time up to 99 days.
- How does this transaction work, and is it safe?
- We leverage the offerPunkToAddress function within the Cryptopunks contract to avoid smart contract risk. The protocol requires a minimum value of Eth that is an order of magnitude more than all Eth in existence which ensures it is impossible for someone to actually accept the offer.
- What are Tenant rights and obligations for for Cryptopunk Owners?
- By adopting the protocol below, Cryptopunk owners who lease their punks are agreeing to the following terms
1. Tenants may display as avatar their rented punk on Twitter, Discord, NFT marketplaces and any other social platform where punk users congregate.
2. Cryptopunk owners will refrain from using their own punk on these platforms while a tenant has rights to a punk
3. Cryptopunk owners agree to not sell or offer for sale any punk to which a tenant has rights.
4. Upon expiration, tenants agree to proactively remove their rented punk from platforms.
5. Our protocol does not prevent an owner from selling a punk under lease. Prospective buyers are instead asked to be aware of tenant rights. In the unfortunate event of a sale while a tenant has rights, those who adopt this protocol commit to siding with the tenant, This means tenants retain their rights until their term expires. Buyers should be aware that attempting to resell a punk with current tenant rights may diminish their resale prospects until the tenant term expires.
- Why would someone want to use someone else’s Cryptopunk?
- There is an authentic experience of having an NFT that is different than just looking at it. This extends to tenant rights. If you have bought any NFTs, you understand this.The most prominent punks serve as a great example: If Perugia used the protocol to gift you tenant rights for a month to his alien, you would feel honored. The provenance of this gift is on chain forever. Would you use it as your Avatar? Punk owners that have never had a zombie ape or alien should probably see the instant appeal here. Now extrapolate. For many people a Cryptopunk is too expensive to justify owning one, with their current finances. Would they not feel honored to have one temporarily?
- Are you associated with Larva Labs?
- Can’t someone simply give me a cryptopunk?
- One does not simply give a Cryptopunk in 2021. They could. But It’s a very expensive gift. Tenant rights allow more people the experience of a Cryptopunk NFT that they may not otherwise be able to afford.
- Are there any other benefits to tenant rights?
- The on chain transaction proves owner intent to use this protocol and give tenant rights. All transactions become part of a Cryptopunk’s provenance, the story of its history. As tenant, your Ethereum address is forever embedded in this particular cryptopunk’s history, and anyone who understands this protocol will know that an owner gave your Ethereum address tenant rights for a period of time.
- Can I pay for tenant rights?
- Not with this protocol version.
- Can’t I just right-click-save a Cryptopunk and use it as my Avatar?
- You have the physical ability to do this, just as you have the ability to save someone’s picture and use it as your own. It’s called stealing someone’s property.
- Can I sell my tenant rights?
- Tenant rights expire within 99 days and are non-transferrable.
- What about the timezones?
- One day is short hand for 5760 blocks. At 15 seconds for an average block, the equates to 1 day.
- I want to give the tenant rights beyond 99 days. Can I do that?
- The best way to accomplish this is to wait for tenant rights to expire and then giift them for an additional 99 days. The protocol only reads the first 2 digits following protocol version 0.
- Why can’t I gift tenant rights for longer than 99 days?
- This rule is to protect tenants and owners from a prolonged state of limbo. If an owner gifted tenant rights and then sold the punk to an unsuspecting buyer, there could be a dispute who actually had rights to display the punk as avatar. By protocol design, we are calling on the community to side with tenant rights until they expire. But this is a strange state where a new punk owner who does not technically have full access to punk rights for a period of time. We believe that in the vast majority of cases punk owner integrity will prevent a state of limbo, but the 99 day limit ensures any potential limbo will be resolved in months rather than years. This guarantees the long term ownership integrity of each punk.
- Why should a punk owner acknowledge the tenant rights given by a former owner?
- Ideally a prospective buyer would not buy a punk with existing tenant rights because a sale violates the agreement of using this protocol. It is possible, however, that a buyer may purchase a punk under this scenario without knowing the gift existed. We believe it is in the community's interest to acknowledge and respect tenant rights, and to inform perspective buyers if a punk previously gifted is offered for sale before expiration.