NFT Trader Will Integrate Chainlink VRF to Assign Provably Rare NFT Properties
We’re happy to announce that NFT Trader will integrate in our future development the Chainlink Verifiable Randomness Function (VRF) to randomly assign rare properties to tradable NFT items within our new gamification system, Trade Squads. Chainlink VRF serves as a secure source of on-chain randomness, which allows anyone to verify that the assignment of these valuable properties was done in an unbiased and tamperproof manner. This means users have definitive proof that each Trader Squads NFT is provably rare and distributed to users in a probably fair manner in which everyone has an equal chance of earning it.
Understanding NFT Trader
Powered by blockchain technology, a new class of digital assets (goods) have emerged in popularity over the last few years called Non-fungible tokens, or NFTs. One of the main reasons for their appeal is that the blockchain can verify their digital scarcity and authenticate full ownership of each NFT. Thus, they are impossible to counterfeit and not mutually interchangeable. The latest applications focusing on unique digital items and collectibles as NFTs include gaming, digital art, and decentralized finance (DeFi).
Like tangible goods, NFTs are fully-owned by the holder, who is at liberty to do anything with them, including selling or swapping them. Our platform, NFT Trader, provides an efficient and trustless peer-to-peer transaction method for securely swapping NFTs across different decentralized applications, with guarantees that the process is backed by the security and transparency of blockchain technology. That is only the first stage for NFT Trader too.
We are excited to announce that we have NOW launched the second stage with our TRADER SQUADS NFT SALE, which involves gamifying our swapping system in order to establish relative value for NFTs, cross-chain interoperability, and liquidity enhancement.
This sale entails some important factors, which we must point out. First, for all 9999 Trader Squads NFTs, there will be an added utility for each one, which offers the owners unlimited and zero trading fees, starting upon the release of our upcoming NFT batch swap feature. Thus, Trader Squads NFTs not only have value as rare digital collectibles, but bonus value because of this exclusive utility feature! Next, this collection will be represented by the element of pure randomness. Each NFT in this collection will be mintable and can take on a set of characteristics that will make it truly unique and therefore increase its intrinsic value. Not even the NFT Trader team will know the nature of any Trade Squads NFT that’s generated. The platform’s randomness function will give rise to varied and interesting results!
All these elements within our upcoming NFT sale, combined with an entertaining minting system, will make this a fun and enjoyable experience for all, definitely making you want to mint more than one Trader Squads NFT! In order to build a more promising gamified experience on the NFT Trader platform, we have decided because we want to expand our Trade Squads gamification system to use Chainlink’s oracle functionalities.
The Need for Chainlink VRF
An oracle is fundamental infrastructure for blockchain applications that need to retrieve data from the outside of the blockchain network itself (off-chain). With most key datasets existing off-chain, oracles are essential to connecting dApps to a wide range of data providers, web APIs, IoT networks, enterprise systems, and more. The use of oracles allows for the development of many new types of smart contract applications, which use external data to trigger their on-chain execution.
In addition to retrieving data, advanced oracle networks like Chainlink can perform trust-minimized computations that generate/validate unique data. One such example is random number generation (RNG). Randomness is critical to creating fun elements in games and fairly distributing in-game items. However, accessing a secure source of randomness can be difficult. Off-chain RNG solutions are opaque and sometimes predictable, while on-chain solutions can be subject to miner frontrunning. With NFTs growing in on-chain value, current solutions leave room for distrust as people have no proof of process fairness. Additionally, they are subject to potential exploits wherein certain users may game the system to obtain unfair advantages in receiving high-value NFTs or traits.
For our game Trade Squads, we decided to integrate Chainlink VRF as the most secure and easy-to-implement verifiable randomness solution for our smart contracts. Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The cryptographic proof is key because it proves the integrity of the random number, showing that the VRF process was carried out in a tamperproof manner. By being tamperproof, users have clear on-chain evidence that the randomness was generated in a manner that is provably fair and unbiased. For more information on the reasoning and proof behind Chainlink VRF, refer to the blog post: https://blog.chain.link/verifiable-random-functions-vrf-random-number-generation-rng-feature/
How Chainlink VRF will be used in Trade Squads
Our game, Trade Squads, is an Ethereum-based trading game where the main objective is to perform specific swapping tasks that unlock unique collectible NFTs for users. There will be a certain set of common NFTs that can be purchased directly within our application, while very rare NFT Trader collectibles will need to be earned through specific NFT trading tasks. These extremely rare NFTs are special and offer further utility within the NFT Trader ecosystem.
Chainlink VRF will be used inside another smart contract to provide verifiable and unpredictable randomness during the NFT generation process. Furthermore, Chainlink VRF provides users with cryptographic proof of our game’s integrity.
“Integrating Chainlink VRF into our platform in the future will allow us to stimulate additional excitement and suspense when buying and selling NFTs, ultimately adding a random gamification element to the minting and distribution processes that users can trust,” said Co-founder Bruckzr. “This enables users to independently verify the rarity of NFTs and provides proof that everyone has an equal shot at earning high value in-game assets and traits.”
The main objective of our platform is to create a cross-connection between all NFT-based dApps. We truly believe that blockchain interoperability is undervalued, and we support all efforts to bring full collaboration towards that collective goal among all dApps. As such, we are open to collaborate with any NFT-based dApps in order to create new and interesting unlockable NFTs within our Game of Trades system.
NFT Trader Squads NFT SALE happening now! Don’t miss out on these exclusive value-added NFTs!
You can find out more about NFT Trader by following us on Twitter and joining the conversations in our Discord.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
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