Cybertino Integrates Chainlink Price Feeds to Change the Status of Our Interactive NFTs
We’re excited to announce that Cybertino — a groundbreaking interactive NFT marketplace — has integrated Chainlink Price Feeds on the Ethereum mainnet. By integrating the industry-leading decentralized oracle network, Cybertino has access to high-quality, tamper-proof price feeds needed to query the real-time price change of Bitcoin (BTC), which our smart contracts use to change the status of our interactive NFTs . This will provide our users with stronger assurances that the NFTs they own are not manipulated and represent current market conditions.
Our initial integration involves the use of the Chainlink BTC/USD Price Feed. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
On August 18th, Cybertino launched novel interactive NFTs with CoinMarketCap. Each NFT has three states: “MOON”, “HODL”, and “FUD”. If Bitcoin price is up more than 5% in the past 24 hours, the NFT will show the “MOON” state, and vice versa. If the price has no significant change, then the NFT will appear as “HODL”. The state will refresh every 24 hours.
In order for our interactive NFTs to update their status’, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
“What we created, the interactive NFTs, is revolutionary. The high-quality, tamper-proof price feed from Chainlink is crucial to us establishing trust with our users. ” — Wilson Wei, CEO of Cybertino
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.
Cybertino is the world’s first interactive NFT platform for influencers and fans.
- In the short-term, it’s aiming to build the first NFT platform that enables influencers to launch their digital merches. Fans who own their digital merches, can get additional benefits like receiving voice messages from their favorite KOLs.
- In the long run, it’s aiming to build a virtual identity account system as the infrastructure of the upcoming metaverse. For example, everyone will have their own virtual avatar by taking a selfie, then you can buy digital merches for your avatar, and decorate it as your best virtual IP socializing and working online, etc.
The team founding this project is the same and upgraded founding members of DLive.TV, which raised 20M USD back in 2017, evaluated at $120M and sold it to TRON in 2019. The founding team reunited and aimed to make mass adoption for the interactive NFT market.