Chainlink Will MOON SOON!! They Have BIG NFT NEWS!!

When I think about NFTs, I often don’t think
about the actual NFTs themselves. I think a lot about value & many NFT assets
will have value, even long term but the amount of work to identify that value…isn’t worth
it to me. So when I think of NFT value… I think about infrastructure. Marketplaces, how NFTs will be exchanged,
tooling for new NFT creation & NFTs integrating with DeFi. In this blossoming space, that is what I’ve
been looking for… Today, we are going to dive right back into
NFT projects. The one’s I’ve been eyeing and a hodling. Starting at the highest marketcap. And this high market cap NFT project isn’t
one you would think would be changing the NFT game. But they are…. And that is Chainlink. That stinky link….knew even before the NFT
hype was here. NFTs were gonna be BIG. In June of last year, they dropped this blog
post “16 Ways to Create Dynamic Non-Fungible Tokens (NFT) Using Chainlink Oracles” Dynamic NFTs? What in the freak is that?? Well NFTs as we know them today, erc721 and
erc1155 are static NFTs.

They are simple right now yet the ideal collection
vehicle: Immutable, everlasting, resistant to theft, impossible to counterfeit on the
blockchain. Dynamic NFTs is when the real fun begins. Dynamic NFTs will be perpetual smart contracts
that use oracles to communicate with and react to external data and systems. The oracle allows the NFT to use those external
datas & systems as a mechanism for minting/burning NFTs, trading peer-to-peer, and checking state. For example, Chainlink said… a smart contract
that automates the minting of a limited edition digital soccer card if the oracle informs
it that a player scored a hat-trick…A sweet freaking possibility that is coming sooner
than you think. If you didn’t know, Chainlink has the VRF. Their Verifiable Randomness generator. Chainlink oracle nodes create a random number,
which is then inputted into smart contracts. The VRF has been live on the mainnet, since
October of last year…and this VRF gives dynamic abilities to NFTs through randomness. Developers since October could apply random
traits to an NFT. Chainlink VRF can be used as an input to randomize
the placement, creation, and/or distribution of in-game items.

For example, fair and unbiased randomness
can determine each in-game item’s rarity and power ranking when it is minted. And guess what? Today NFT projects are implementing just that. EtherCats just sold out for minting of the
founders series & as we can see the mints use chainlinks VRF. The founders packs, each contained 5 random
founder series cats, with a random rating and random multiplier all decided by the VRF. And just last month, the chainlink team & youtube
channel had the ethercats team on, to discuss how they were using the VRF & even demoing
the code! So, the beginning of pure randomness with
NFTs is beginning through Chainlink live on the ethereum mainnet.

But it doesn’t stop there..like the first
example, real world events can be inputted into the NFTs. Mining an NFT card based on a hat trick. What about going even further? Where the value of the NFT cards depends on
the real-life statistical outputs of the associated player. Chainlink oracles can source real-life performance
data to determine the value of cards, which is used to decide the winners of tournaments
and trigger winning payouts.

Even more down the rabbit hole? What about authenticity verification…even
with identity? Going back to the blog post on NFTs and chainlink
they speak on identity and say “Several projects are already working on how to develop
digital identities that can interface with many existing applications. By doing so, users can plug’n’play it
with other applications to keep control of their private data. Chainlink allows smart contracts to query
identity-based blockchains to verify personal credentials, as well as to append data to
a person’s identity based on an output from another business process.

Interestingly, identity may interplay with
cyber-physical systems in the future, wherein a digital identity will give authorized users
access to a physical system. Several projects are already working on how
to develop digital identities? And this identity will interplay with the
cyber-physical systems, where a digital identity gives authorized access to physical systems. Doesn’t that sound like another NFT project,
I’m oh so bullish on…LUKSO… Lukso posted this in October on Twitter, around
the same time of the chainlink VRF go-live. ERC725 Standard – The standard allowing the
creation of UniversalProfiles on a blockchain and proposed by our Co-Founder Fabian Vogelsteller
Don't get it? Relax! Just remember that those profiles are UniversalLogins
across blockchain applications, reflecting your digital identity. Lukso’s goal is to bridge the physical world
and the digital world. NFTs for both digital and physical items,
that are tied to a person’s identity. Fabian thinks this identity will be powered
by ERC-725. Will Chainlink be involved with the lusko
Mainnet…which we got info is slated for release in q2 2021? Only time will tell… That stinky link & lukso, building the infrastructure
which I think will push NFTs beyond today’s boundaries….but what about the trading of
the NFTs.

Exchanging them?? There is no instant satisfaction with the
big markets… as it’s P2P, a seller needs to wait for a buyer. There needs to be more efficient ways of trading
and swapping these assets, and I’ve been zeroing in on a project doing just that. But before we get into, it’s time for a
sponsored segment of this video supported by our friends at the GET protocol and like
always the full details of our agreement can be found in the description. The use cases of NFTs are far and wide reaching,
we’ve covered art, gaming…but GET protocol is dominating a certain area. Their name GET protocol is short for guaranteed
entrance protocol. Entrance? Yeah, they focus on Tickets & ticketing, through
tokenization & NFTs. This market, ticketing isn’t small by no
means either…by 2025 expected to be a nearly 70 billion dollar industry. The GET protocol has been around since 2017,
and carving their chunk into this industry. They’ve issued over half a million blockchain-registered
tickets to date. And with the hype of NFTs, that number will
only accelerate.

They issue smart tickets, as erc721 NFTs,
which gives the issuers more control over those tickets & gives the event goers benefits
too. getNFT Smart tickets are controlled by the
wallet holder and blockchain address. Of course this provides transparency of ownership,
but it also means they are transferable at the will of the owner. Also the owner of it, has a digital collectable
that lives forever on the blockchain. For the ticket issuers, they of course can
control resale markets and rules, but they can also implement timelocks to the tickets,
This allows them to protect their fans and event goers from malicious third parties. You know how tickets work in the real world?? Scalpers, exorbitant prices…get protocol
can stop this. And this has been implemented into ticketing
platforms, succeeding at providing the benefits stated above.

GUTS Tickets is the first commercial company
which implemented the GET Protocol to create an honest ticketing service. They have a functioning web and mobile app
for the ticketing platform. Already working with many partners to fill
venues, festivals, and even stadiums. The app is Easy to understand, looks like
most ticketing platforms, you can even get drinks and parking. They also allow ticketing by floorplan. But their tickets also have features like
dynamic qr codes, changing every so often.

Every ticket issued by Guts on GET, over 600k,
not a single one has been scalped. But the tickets soon are going to be able
to do so much more since it’s an NFT, it’s composable, it’s LEGO block of DeFi, decentralized
finance. And guess who has partnered to bring NFT tickets
even further? Chainlink and the Getprotocol. GET is implementing their VRF for randomness
with their tickets, especially with ticket lines. Depending on pending development & design,
ticket buyers will be able to easily verify the randomization that has been given to them
for their place in line to buy the ticket. With a simple click of the button, while they
wait! But I wanna go back to their website, to highlight
a feature.

They say “The GET Protocol approach to Event
Finance (using NFT's): Our DeFi investment module, which is expected to go live in 2021,
will offer tooling for organizers to sell their ticket inventory forward. This is achieved by tokenizing the future
tickets in an NFT. … What does that mean? Well this will allow event organizers and
artists to pre-finance their own events by collateralizing their tickets and offering
them up to DeFi investors. And that is coming soon. Of course if any of this interests you all
links for Get & Guts are below. Now back to the trading & the swapping of
those NFTs. What project do you think I’m going to bring
up? NFT20….as they tweeted this 2 days ago. “If you have an NFT project or love a project
that is not yet on NFT20: it's high time to create the pool and add liquidity for it! In a few days we'll enable anyone to trade
NFTs using any ERC20 tokens in the most liquid way ever created! Few days is not two, usually 3 or more, so
NFT20 could have a big release tomorrow or in a couple of days.

And below the tweet they explained it a bit
further…A Rich on twitter asked “It will be nft20 for erc20 ? Or an erc20 like yfi
for any nft (erc721)? I think rich was a little confused but NFT20
replied “Any ERC721/ERC1155/ERC20 combination” That is BIG, and I’m licking my chops to
find out just what….but things aren’t only looking bullish for NFT20 within their
own department. Remember Vasa Develop, who is working on the
cross asset NFT swapper for NFTX posted an update before taking a development break for
exams. As we can see NFTX, and NFT20 are the two
markets on the sell side, and both are integrated on the buy side, but also on the buy side
rarible, axie infinity, crypto punks, and opensea is a work in progress. The bluechips in the NFT space are obvious
to me, even if the marketcap rankings doens’t view NFT20 and it’s governance token muse
as a blue chip…YET! But what about the mysterious alchemist coin? Which is creating NFTs, and Universal Vaults.

Remember they aren’t on Coingecko, they
just needed to get their front end UI ready…the application is processed just waiting on that
website. Well going to the front end github for the
coin, it’s active being worked on, and looky there a link alchemist.farm….going to that…Very
nice, its almost there…but remember it isn’t ready, that link, the team will announce it..but
they are getting close….real close.

Cheers I’ll see you next time!.

You May Also Like