Chainlink Node to Advance On-Chain NFT Valuation, Here's How
MetaGameHub is a decentralized application aggregator focused on the DeFi, GameFi and non-fungible tokens segments. Now, its economic design is optimized by Chainlink (LINK) node integration.
Chainlink node now integrated by MetaGameHub
According to the official announcement shared by MetaGameHub team on its social media channels, a Chainlink (LINK) node has been integrated into its NFT pricing module.
.@MGH_DAO, an NFT-focused #DAO, will launch its own #Chainlink node to make its #NFT valuation data available on blockchains, starting with @TheSandboxGame land titles. #DeFi protocols can then use this data to create new DeFi solutions for metaverse NFTs. https://t.co/4kA706Epyo
— Chainlink - Official Channel (@chainlink) October 14, 2021
Thus, a Chainlink (LINK) node will be utilized in the pricing mechanisms of various products hosted by MetaGameHub. Sandbox Land will be the first GameFi protocol to have its NFTs priced in a novel manner.
Also, all new residents of MetaGameHub, regardless of the type of the protocol (DeFi, NFT marketplaces, DEXes, lending/borrowing ecosystems and so on), will be able to utilize the dedicated Chainlink node.
Nicolas Weber, founder of MetaGameHub, stresses that by integrating its own Chainlink (LINK) node, his project does its part to help the NFT segment mature:
The MetaGameHub Chainlink node serves as the ideal framework to support our NFT price oracles, which will provide dApps and developers with more precise data for pricing NFTs on-chain. We're excited to help the NFT space mature by bringing sophisticated pricing data on-chain through Chainlink, opening up new opportunities for DeFi to build new applications specifically around NFTs.
All-in-one ecosystem for NFTs and DeFis
Decentralized oracles network Chainlink was chosen by MetaGameHub for its data integrity, "blockchain agnosticism," wide adoption and provable security.
MetaGameHub (also MGH DAO) is a decentralized autonomous organization that fosters integral products at the intersection of DeFi, digital collectibles, artificial intelligence and other cutting-edge digital practices.
Yuri MolchanAs covered by U.Today previously, Chainlink (LINK) will advance the data structures of Cardano's DeFi ecosystem. Real-world pricing data will be broadcast to a wide range of Cardano-based dApps.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Alex Dovbnya
Dan Burgin