LINK’s newest partnership will bring more crypto adoption to mainstream gamers as the blockchain platform GamerHash said they will be integrating Chainlink data feeds for fair pricing as we are reading more in the following Chainlink latest news.
The gaming-focused platform is the latest company to use Chainlink’s oracle services and now its users can share their idle CPU/GPU for mining crypto or earn crypto rewards when they are playing games. GamerHash said that the decision for LINK’s newest partnership came once the crypto platform proves its ability to secure “over a billion dollars in value in Defi as the most widely used oracle.”
Decentralized computation platform @GamerHashCom is live, using Chainlink BTC/USD Price Reference Data to calculate the profitability of providing computer resources. It's the first step in a larger goal of seeding #NFT adoption in the #gamingcommunity. https://t.co/EzYHxWCy6j
— Chainlink – Official Channel (@chainlink) July 27, 2020
The announcement said that Chainlink’s BTC/USD price reference data will be the tool used to calculate the profitability of providing different computational resources for the gaming platform. This is touted as the “first Integration” to a much bigger goal of “seeding NFT Adoption in the mainstream gaming community.” GamerHash said that the gamers are familiar with trading crypto-assets and interacting with them, referring to the wide array of in-game crypto charges and digital tokens available on other games such as Fortnite. This makes them a “prime target” for cryptocurrency usage and sparking “another wave” of blockchain adoption.
1/ We’re excited to launch a Verifiable Random Function (VRF) capability. Smart contract developers can now access verifiable randomness through #Chainlink oracles, enabling a new set of blockchain applications in gaming, security & layer-2 protocols. https://t.co/NBLPuzJyXE
— Chainlink – Official Channel (@chainlink) May 12, 2020
The company said its non-fungible tokens reward will be rolled out to more than 480,000 users across 125 countries as the Chainlink Verifiable Random Function used to distribute these randomized in-game rewards. Another use case is to basically mint the NFTs which can be purchased and sold on the GamerHash marketplace. The still un-released GamerCoin token will be issued in Malta and sold in South Korea according to the announcement. NFTs are quickly gaining momentum from developers and enterprises wanting to capitalize on this untapped market.
Daniel Kochis, the Head of Chainlink Business development commented:
“The gaming industry is primed to see massive expansion through the introduction of in-game rewards represented as scarce NFT assets.”
Kochis added that Chainlink was extremely excited to collaborate with GamerHash and to augment blockchain gaming over the use of key-off chain prices and data feeds. The gaming platform noted that it sees great potential in the new wave of in-game tokens and NFTs and thanks to the verifiable randomness function of Chainlink, the gamers will be able to trade and invest in their choices digital assets while being assured of the prices and their reliability.
NFTs are a special type of cryptographic tokens and their first use-case of gaming-related NFTs were the crypto collectible trading card games known as the Age of Chains that used the Counterparty protocol to issue BTC-based blockchain trading cards back in 2016.
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