Project WITH will Launch Chainlink Node and Use Chainlink VRF to Enable Sports-Based Dynamic NFTs
Project WITH is pleased to announce a planned two-part integration with Chainlink, the market-leading decentralized oracle network. First, Project WITH plans to launch its own Chainlink node to bring data from the WITH marketplace on-chain for developers to leverage within their blockchain applications. Secondly, we plan to use Chainlink Verifiable Random Function (VRF) as a source of randomness for creating and distributing rare sports-based NFTs in a provably fair and secure manner.
Through our own Chainlink node, we can sell our various sports datasets across leading blockchain networks, opening up new markets for our data and enabling developers to build novel decentralized finance (DeFi) applications that rely on sports information to execute. We envision our sports data being used in various ways, such as to set odds in prediction platforms about the future of a relatively unknown athlete’s career, dynamically update sports player NFTs based on updated game statistics, or even determine the results of decentralized fantasy sports leagues.
In addition to running a node, we plan to combine Chainlink VRF — a secure and verifiable random number generator (RNG) solution — with our sports data to issue randomized in-platform rewards as NFTs to users. These dynamic NFTs can represent player cards, in-game items, and fan art. Since dynamic NFTs are updatable, interesting new use cases are possible like playing cards that change to reflect the real-world performance of an athlete, which further makes possible fantasy sports games. Through Chainlink VRF, we can gamify the experience by issuing NFTs to communities in a provably random manner, making NFT collectibility provably fair and rare.
Leveraging Chainlink to Offer Blockchain-Based Products
Project WITH is a blockchain-based self-participating sports ecosystem that connects players, clubs, agents, and fans together. Our platform collects match statistics, sports-related activity, and preference data from real-world sources, providing an all-in-one sports resource for users. Athletes can access our decentralized career management platform to easily connect to clubs, agents, and fans, creating broader opportunities for athletes all over the world and vice versa. We believe such data can be useful in the development of various sports-related blockchain applications.
However, since blockchains are purposely disconnected to the outside world, commonly known as the oracle problem, we needed a secure middleware solution known as an oracle to bridge our data to blockchain environments securely. After reviewing various oracle solutions, we identified Chainlink as the most widely used and time-tested oracle infrastructure in the blockchain industry, already securing billions of dollars in on-chain value. By launching a Chainlink node to supply our data onto blockchains, we are provided several intriguing advantages:
● Data Integrity — Our Chainlink node will cryptographically sign all data we supply on-chain to prove its origination from Project WITH, preventing man-in-the-middle attacks and making our data more reliable when used to trigger automated actions.
● Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be made available on any current or future blockchain environment.
● Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
● Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, already proven to secure billions of dollars in value live in production.
As aforementioned, we also want to create various dynamic NFTs using Chainlink VRF that cater to sports fans. Since we have a variety of sports data, not only can others build sports NFTs using the data supplied from our Chainlink node, but we can launch our own sports NFTs. In order to gamify the experience, we can add an element of randomness to the creation and distribution of our NFTs, such as setting certain odds on the minting of rare sports cards when a certain event happens. We selected Chainlink VRF because it offers a widely adopted and tamper-proof source of randomness that users can audit. Thus, users have proof that NFTs are rewarded to fans in an unbiased and truly fair manner.
“Through Chainlink, we can sell data into previously inaccessible blockchain markets with minimal integration work, as well as create dynamic NFTs based around sports in order to offer a more gamified platform experience,” stated WoongJang Lee, Project WITH CEO. “This greatly enhances the utility of Project WITH, allowing for aggregated sports data to create truly global and transparent sports markets.
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 the 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.