- Chainlink expands its services beyond DeFi and into technology suitable for NFT games.
- LINK rallied close to $10 after announcement of upcoming staking.
Chainlink (LINK) is a platform often linked to decentralized finance. Chainlink is the main source of smart contract oracles, providing key data and pricing information. This project is in the spotlight again as it finally added the long-expected staking for the LINK token.
What Chainlink Does for NFT
Chainlink is behind the fair token distribution of multiple projects. The technology of verifiable randomness is used to build the combinations of NFT features. Additionally, random distribution is needed for each mint, to make sure the rarity of traits is reflected fairly for all buyers.
Using Chainlink for the project is thus a sign for potential fairness, with no hidden rarity rules. With smart contract distribution of NFT, Chainlink helps automate the randomization process.
Chainlink Partners with Avalanche
The Avalanche C-Chain can now integrate two of the central technologies of Chainlink to build more secure smart contracts. Avalanche has already integrated Chainlink price feeds for all builders of DeFi projects.
The next step brings two more developments that will boost the building of game apps on Avalanche. Chainlink Keepers and Chainlink VRF are live on Avalanche Primary Network. Chainlink Keepers has a goal of safely automating smart contract features. Chainlink VRF generates proven randomness to be used within smart contracts.
The addition of Chainlink VRF may also be used within games for fair dice rolls and othe randomization features such as mystery boxes.
Avalanche is quickly becoming a growing hub for games, which includes not only simple idle NFT competitions, but also complex 3D rendered adventure games like Shrapnel.
What is the LINK Token
The LINK token will be key to the Chainlink collection of services. In the future, it will be locked for staking, paying out varied returns depending on the services provided.
LINK trades at $8.89 after rallying to $9.42, and is one of the few assets that is expected to keep gaining as Chainlink expands its influence. LINK has traded for years and is one of the well-established assets in crypto space.
