TriumphX to Use Chainlink Oracles to Map Real-time Game Stats of Players to Sports-Based NFTs
TriumphX, a cross-chain decentralized NFT exchange and developer platform, to integrate market-leading blockchain oracle solution Chainlink within its new NFT marketplace SOLE-X 1.0. TriumphX will use Chainlink oracles to obtain up-to-date information on sports players and their performance within matches in order to enhance the user experience of holding NFTs based on those players.
TriumphX selected Chainlink because it is the most trusted oracle solution in the market, already securing billions of dollars in value for many DeFi, NFT, and Gaming applications built on various blockchains. It’s also highly secure, reliable, and flexible, meaning TriumpX can easily and securely expand into additional NFT markets in the future based on new data feeds.
How SOLE-X Uses Chainlink in Its NFT Marketplace
SOLE-X 1.0 is a cross-chain NFT marketplace based on the Klaytn blockchain, with enhanced interoperability functions to enable cross-chain NFT transactions and exchanges. SOLE-X 1.0 was designed to overcome the limitations of current NFT marketplaces, which are mostly based on a single blockchain and thus, inaccessible to users from other blockchain networks. The scheduled launch for SOLE-X 1.0 is March 2021.
Chainlink is a decentralized oracle network that connects smart contracts to external data and systems outside the blockchain (off-chain) in a highly secure and reliable manner. Chainlink allows smart contracts to use data in the real-world as inputs to trigger actions on the blockchain, as well as allow the smart contract to send outputs to external systems to trigger real-world actions.
Chainlink ensures the proper validation of data inputs and outputs by using a decentralized network of secure oracle nodes to prevent any single point of failure in the sourcing and delivery of data between on-chain and off-chain environments. Chainlink also allows smart contracts to obtain data from password-protected APIs and aggregate data from multiple sources, which enables smart contracts to get high-quality, redundantly validated data feeds from the most trusted sources.
TriumphX plans to use Chainlink’s decentralized oracle solution within SOLE-X 1.0 to connect game stats of sports players to the sports-based NFTs created on the platform. The real-time connection to sports data will generate a highly interactive user experience, where NFT holders can closely follow their favorite players and keep up-to-date with their most recent stats and match outcomes.
These sports NFT cards are similar to traditional sports cards, but now in a digital format. Each digital card will contain video clips of notable game moments to be sold individually or in packages. The initial goal is to create NFTs based on players in the Korea Baseball Organization (KOL). However, Chainlink’s ability to connect with any outside data source gives us the freedom to expand our collection of NFT assets across a wide variety of different markets in the future. We believe that the combination of NFTs and oracles, referred to as dynamic NFTs, are only at the beginning of their development, with many exciting and unexplored opportunities ahead.
A TriumphX official said, “The SOLE-X 1.0 platform is one of the first projects in the world attempting to map real-time game stats to NFTs. The fans can utilize the technology to predict game outcomes and feel the excitement of sports’ competition, which we anticipate will appeal to sports fans and serve as a foundation for heightened interest in sports-based NFTs. By generating more consumer interest in NFTs, we can increase the on-chain and cross-chain liquidity of NFT markets, further supporting more growth in the industry.”
TriumphX is a decentralised exchange for the trading of in-game items that exists as NFTs. The project’s goal is to create a highly liquid decentralised market that enables users to trade NFT tokens that exist across various blockchains with the highest security and transparency. To achieve this, TriumphX will be integrated with multiple decentralised exchanges to facilitate the deep liquidity of NFT tokens. The TRIX token will complement the TriumphX ecosystem by creating a sustainable token economy through game theory and the TriumphX blockchain will be designed with scalability, interoperability and achieve finality in transactions in the most secure and transparent manner. It is designed to complement the rapid growth of gaming and Esports to provide gamers with the quality of services that they deserve.
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 decentralized finance (DeFi), insurance, and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.