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From ETH to Avalanche: Chainlink is conquering the NFT sector

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From ETH to Avalanche: Chainlink is conquering the NFT sector

In August there was a hail for Chainlink NFT partnerships. In addition to price data, the chainlink VRF random function is particularly in demand.

Chainlink operates at the interface between blockchains and external (“off-chain”) data sources. So far, Chainlink has made a name for itself primarily as a supplier of exchange rate data in the field of decentralized financial services (DeFi). There the crypto-derivative protocol Synthetix and the crypto-lending platform AAVE rely on the decentralized data oracle. Now more and more projects from the area of ​​non-fungible tokens (NFT) are discovering the platform for themselves. In August alone, Chainlink was able to land twelve new partnerships. Most of them are about an integration of Chainlink VRF, but some also rely on the price feeds of the decentralized data oracle.

VRF stands for Verifiable random function: A function that demonstrably generates random values. The invention of VRF is largely attributed to Algorand founder Silvio Micali. In Algorand, VRF is used when selecting the validators of blocks. Cardano also uses a VRF for its proof-of-stake mechanism “Ouroboros”.

Anyone who has thrown a dice or shuffled cards knows that chance is also of central importance in games. But even in digital gaming, nothing works without chance – this also applies to the growing sector of NFT-based blockchain games. Because these are usually supposed to function decentrally, an independent source of random numbers that can be checked objectively and “on-chain” is also required.

DeRaceNFT: Great, the horse bet counts

Spores Network

The Spores Network is pursuing the ambitious goal of building a cross-blockchain NFT marketplace. For the price data of the NFT market in spe, the project relies on price feeds from Chainlink.

Anyone who says NFT will also have to say Metaverse in the future – at least if Realm claims. Enter Realm is a so-called mixed reality platform that bridges cyberspace and meatspace. Realm’s metaverse is not only intended to be populated by digitally bred pets, but also to help create its own microverse. The basis for the NFT from Realm is the token standard ERC-1155 founded by Enjin. The project announced the integration of Chainlink VRF on August 17th.

MyDeFiPet: Another CryptoKitties copy

At MyDeFiPet, too, nothing works (fair) without chance. It’s another NFT game that revolves around breeding and trading collecting monsters. On August 18th it was announced that MyDeFiPet uses Chainlink VRF for random numbers.

The NFT forge Accursed Share combines NFT with conceptual art. With its first project “Curse NFT”, Accursed is dedicated to the model Krystall Schott, who is the number one hit when you search for “Face” on Google. The Curse NFT shows Scott’s face, which was previously captured with a 3D scanner. The highlight: The NFT changes with the price fluctuations of Ether (ETH). Chainlink is also used here as a rate data provider.

Uptick Network

Uptick Network is dedicated to the economy of Web 3.0. With its NFT app, Uptick is planning a marketplace for crypto art, music, video and e-publications. Chainlink VRF is also used here to generate random numbers. Specifically, this is about Chainlink VRF for the Binance Smart Chain (BSC).

The AVAXCELLS project shows that Chainlink is not only used in ETH or the BSC. This is an NFT game in which “cells” compete against each other. In contrast to the examples above, AVAXCELLS does not rely on ETH or the BSC, but on the Avalanche Blockchain. Since the latter announced a major upgrade last week, the price of the platform currency AVAX has been on the rise. Chainlink VRF is supposed to decide at AVAXCELLS which player comes first.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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