THE HUSL is Integrating Chainlink VRF to Bring Provably Fair Randomized Mechanics to NFTs
THE HUSL, a leading NFT platform for the music industry, is excited to announce our integration with Chainlink Verifiable Random Function (VRF) on the Ethereum blockchain. By integrating Chainlink, the industry-leading decentralized oracle network, THE HUSL ecosystem gains access to a provably fair Random Number Generator (RNG) to help fairly distribute NFTs, randomly reward users, host secure and honest competitions, conduct unbiased giveaways, and much more. Chainlink decentralized oracle networks utilize secure off-chain computation to provide THE HUSL access to a tamper-proof and auditable source of on-chain randomness needed to select winners in a verifiably fair manner.
For the music industry, NFTs represent rare collectibles with authenticity and ownership data recorded and tracked on an immutable digital ledger. At THE HUSL, we believe NFTs represent the opportunity for creators to engage directly with fans in a bold new way that disinherits traditional intermediaries and empowers fans to PARTICIPATE in, and OWN, stake in the music and moments that make music history — in REAL TIME as it occurs.
Powered by our dynamic token ecosystem, THE HUSL is positioned at the nexus of blockchain and the music Industry. The HUSL token will enable users to stake tokens, farm rare minted NFTs, vote for platform proposals, tip creators, receive discounts on collectibles, and enable access to features such as streaming music and exclusive NFT auctions and sales.
At THE HUSL, Experiential Rewards-based NFT competitions are at the center of everything we do. Each of our NFT Collections offers unique opportunities for owners to compete for prizes, including but not limited to physical, real-world items such as memorabilia, autographs, access to private events, and in-person experiences with musicians.
THE HUSL’s integration of Chainlink VRF notably augments the authenticity of the platform’s rewards mechanism by generating random numbers using secure and verifiable off-chain computation. This creates a more exciting, transparent and fraud-proof user experience, as THE HUSL users can participate in Experiential Rewards-based NFT drops with unwavering confidence that the winners of random draws will be chosen with integrity and full auditability.
Traditional RNG solutions which utilize block hashes, for instance, introduce vulnerabilities where miners can purposely ignore blocks when they generate unfavorable results, essentially allowing for a do-over. Alternatively, off-chain RNG solutions require users to trust without verification that the centralized data provider won’t manipulate the results to a desired outcome. Instead, Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s predetermined private key to generate both a random number and a cryptographic proof verifying the integrity of the result.
“Chainlink VRF is a game-changer as it allows any HUSL user to verify that the outcomes of platform contests and rewards are rooted in a provably fair process,” stated Varun Bajaj, CEO of THE HUSL. “THE HUSL is excited to continue exploring new ways to leverage Chainlink solutions to expand our offering as our platform expands.”
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.
About The HUSL
THE HUSL is the music industry’s leading destination for NFT art, collectibles, and breaking music.
For the music industry, NFTs represent rare collectibles with authenticity and ownership data recorded and tracked on an immutable digital ledger. Music-related use cases for NFT’s include, digital music, digital art, tickets, licensed collectables, fractional ownership, membership id, philanthropy, etc.
The HUSL Marketplace enables musicians to create, curate, and sell NFT collectible items directly to their fans by utilizing our enterprise-grade platform featuring sleek design features and an intuitive user interface.
Powered by our dynamic token ecosystem, THE HUSL is positioned at the nexus of Blockchain and the Music Industry. The HUSL token will enable users to stake tokens to farm rare-minted exclusive NFTS, vote for platform proposals, tip creators, receive discounts on collectables, and enable access to features such as streaming music and exclusive NFT auctions/sales.
Our passion is to inspire artists to create new and exciting works of the imagination that push boundaries, and merge the disparate markets of music, digital art, and decentralized finance.
Built for creators, by creators: THE HUSL