First off, a good edging like this is one of the greatest things ever - such a wonderful combination of pleasure and frustration, it's mind-blowing.
Second, I find the idea of handing over real ownership of my cock to someone else, like you describe in your last paragraph, to be one of the hottest fantasies out there. For me, one of the fantasies along those lines that often goes through my mind is not the idea of permanent chastity (in the sense of never being unlocked, though sure that can be a hot fantasy at times), but the idea of never touching my own penis. Imagine if you were to tell Luke that he'll be unlocked from time to time, you'll edge him, occasionally you might even fuck or suck him if you feel like it, and he might even get the occasional orgasm. But only you get to touch that dick when it's out of the cage. That he'll never actually touch his own penis again because it's yours and you don't want anyone else playing with it!
(Of course you're the one in charge and you can always change your mind, but imagine what a mind-fuck that would be for him)
Thanks for posting!
I know this is an old post by now, but I've been away from lemmynsfw for a while and just now catching up. Wanted to thank you for this - it's really interesting and some good info for anyone else maybe trying to follow in your footsteps. I can only imagine the devious plans you have in mind...