DeFi11 partners with PolkaCipher to integrate the benefits of the NFT ecosystem
DeFi11 is proud to announce the partnership with PolkaCipher, a cross chain privacy preserving project on the Polkadot ecosystem. It is their primary goal to expand the applications of NFTs & DeFi and their use case in the business environment and also to increase the reach of Web3 applications in the blockchain economy through seamless integration into the project, also privately.
The partnership with PolkaCipher will further expand cross-chain technology and the associated use of emerging assets. This creates the possibility of transferring values and information between the two ecosystems within the blockchain and, in addition to individual transactions of a standard NFT network, also enables multi-lane chains. The development of NFTs is currently booming, which is why the integration of the PolkaCipher solutions discussed below will help us establish a key factor in our NFT design.
As a trustless oracle, PolkaCipher obtains confident data resources by optimizing community strength and adding economic incentives and penalties to provide Polkadot and other blockchain’s future cross-chain business ecosystem with self-operating, self-organized data source components.
By participating in the PolkaCipher NFT landscape, some advantages and functions are made possible for the DeFi11 community, including:
Event-based dynamic data collection and intelligent creation and distribution of the NFT using PolkaCipher’s Oracle ecosystem helps optimize and update its off-chain event monitoring functionality.
- Capture dynamic changes in real events
- Automatically upload relevant data to the chain
- Instant creation of NFTs
- Support of P2P transactions
- Access to cross-chain NFT standards
- Enriching the ecological content of NFTs
- Increasing the vitality of the ecosystem
In addition, access for users of DeFi11 game events is made possible via specialized minted NFTs that have time locks that can be further gamified by blocking gifts to these NFTs as keys so that they can be claimed after the game.
A further synergy with the following points can be created in the future:
- Staking NFTs to allow others to use your NFT until it burns out and collect related rewards
- Unmanipulated Predictive Market Data
PolkaCipher’s Oracle can generate untampered data that is open and transparent to reinvent the prediction markets.
PolkaCipher pursues the vision of breaking the barrier between blockchain and real data through the commercialization of NFTs and accelerating the introduction of decentralized finance into everyday life, which is also represented by DeFi11.
About PolkaCipher
PolkaCipher is a Polkadot-based privacy-preserving oracle network focused on bringing the use case of private NFTs to off-chain businesses and being a bridge for seamless integration to on-chain DeFi apps.
PolkaCipher’s unique offerings help push the use-case of the NFTs in real-world scenarios while still being connected to a cross-chain network that is fair and accurate. PolkaCipher intends to achieve business goals by helping users transact privately and securely using NFTs as a mode of access to different decentralized apps (dapps) and real-world businesses.
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About DeFi11
DeFi11 is a DeFi powered decentralized gaming ecosystem built on top of Matic Blockchain with Ethereum as the base layer. The platform aims to establish ethical standards in gaming by making the system transparent, auditable and incentivizing. In this way, we are trying to bring more individuals to an already ripe gaming market which has been stifled due to lack of innovation.
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