Main navigation

PARSIQ Introduces IQ Protocol with Subscription Model for NFT Era

News
Wed, 09/22/2021 - 12:21
article image
Vladislav Sopov
PARSIQ team introduces general-purpose tokenization instrument, IQ Protocol
PARSIQ Introduces IQ Protocol with Subscription Model for NFT Era
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

IQ Protocol, a novel product by the team of PARSIQ (PRQ) blockchain analytics platform, is set to reconsider the way the off-chain and on-chain worlds are bridged now.

Blockchain-agnostic solution for subscriptions

PARSIQ (PRQ), a leading decentralized team focused on building interoperability protocols for interaction between off-chain and on-chain modules, releases its IQ Protocol to introduce the concept of subscriptions to blockchain-oriented businesses.

Parsiq launches IQ Protocol
Image by Parsiq

That said, with IQ Protocol, any enterprise is able to experiment with features like cancel/refund policies, different time-frame considerations, consumption rate quotas, discounts and more in their subscriptions policy.

To achieve this goal, IQ Protocol implements the PowerTokens concept. In B2B systems, PowerTokens act as a unit of accounting for using resources, not as a traditional tokenized currency.

As such, every business can integrate IQ Protocol with ease, regardless of its stance toward cryptocurrencies and blockchain.

IQ Protocol for DeFi and NFT products

As IQ Protocol is released amidst the DeFi and NFT euphorias, it boasts functions that allow its customers to benefit from both segments.

PRQ token can be locked via IQ Protocol to allow holders to earn yields on their stake. Also, PRQ tokens are accepted by PARSIQ as payment instrument.

card

In the future, IQ Protocol will be able to build NFT renting platforms. As with crypto lending ecosystems, digital art enthusiasts will benefit from their tokens.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)