Oasis Grants Support to NFT Rental Project Powered by Liquefaction and Sapphire

A new research initiative is pushing the boundaries of digital ownership. With backing from the Oasis Protocol Foundation, researchers at Cornell Tech have unveiled Take My Ape – a proof-of-concept platform for NFT rentals using a system called Liquefaction.

The project demonstrates how users can temporarily rent high-profile NFTs, like Bored Ape Yacht Club (BAYC) tokens, while enjoying full access to their perks. During the rental period, borrowers can authenticate into members-only spaces by signing messages—just as if they held the NFT in their own wallet.

Rethinking Ownership Through Liquefaction

The Take My Ape initiative builds on a late 2024 research paper introducing Liquefaction, a novel wallet framework that renders blockchain assets “liquid.” The approach allows temporary control of tokens without requiring full transfer of ownership or private keys.

Under the guidance of Professor Ari Juels and led by researcher James Austegen, the Cornell Tech team developed the concept in collaboration with IC3 and Oasis.

The project’s mechanics rely heavily on Sapphire, the Oasis blockchain’s privacy layer. Sapphire’s Trusted Execution Environments (TEEs) ensure that wallet keys remain private—even from asset owners—while enabling time-bound permissions. This secures NFT privileges for renters without putting the original asset at risk.

How It Works

• When a user rents a BAYC NFT, they gain temporary rights to use it.
• The system enables on-chain interactions, with the renter’s address appearing in the Yuga contract like any regular holder.
• Once the rental ends, control passes to the next renter or back to the owner.
• A secondary-price auction system helps determine the next renter fairly when demand is high.

Beyond NFT Rentals

While Take My Ape focuses on NFT ticketing and access, Liquefaction’s scope is broader. The system could apply to:

• Token-gated memberships
• Temporary control of vested tokens
• Identity and reputation systems
• DAO voting access
• Cross-chain account abstraction

By abstracting control away from ownership, Liquefaction introduces a flexible model for asset utility across Web3.

What It Means For You [NFA]

This work signals a shift in how digital ownership might function in the future. For NFT holders, it could mean new income streams through temporary rentals. For platforms and DAOs, it opens the door to advanced access control systems. Just as important, the use of Sapphire’s TEEs adds a crucial privacy and security layer—making temporary access viable without trust assumptions.

As Liquefaction matures, more real-world blockchain assets may become liquid, programmable, and shareable—without ever being fully transferred.