Chainlink News

Spores Network To Integrate Chainlink Price Feeds With Price NFTs

Spores Network finally made the announcement of integrating the NFT marketplace of its platform with the decentralized oracle network of Chainlink. Spores Network is a renowned platform for decentralized pop culture. The cross-chain DeFi-based NFT marketplace of Spores Network focuses on five NFT-based content verticals that include Gaming, Animation/Anime, Esports, Celebrities, and Digital Fine Art. The NFT-DeFi network encourages pop artists to create, share, and transfer their work in the NFT marketplace of the platform. The platform employs smart contracts technology as well as blockchain technology for the authentication of NFTs, tracking of ownership history and buy/sell movement, and secure decentralization of its trading process in compliance with intellectual property licenses. 

Spores Network seeks to employ the price feeds of Chainlink to procure tamper-proof and accurate rates of exchange on the platform. The decentralized price feeds powered by oracle ensures the pricing of the assets and services of Spores Network NFT marketplace in ETH and makes sure that the same can be purchased with other cryptocurrencies as well. The integration will also allow the other DeFi-based projects of Spores Network to leverage the oracle network of Chainlink. 

In the words of Eric Hung Nguyen, the CEO and co-founder of Spores Network, the integration with the decentralized data sets and price feeds of Chainlink is highly beneficial for the growth and development of the NFT marketplace of Spores Network. Spores Network is currently looking forward to collaborating with more blockchain projects and firms to provide the communities of users with a seamless experience in the NFT and decentralized finance industry. 

As of now, the collaborative efforts of Spores Network and Chainlink will succeed in roping in more users. The time-tested blockchain-oriented oracle network of Chainlink is the best choice for the pricing of NFT-based services and assets of Spores Network because of the following reasons:

The high quality of data: Chainlink obtains the data for its price feeds from several exclusive data aggregators. The aggregation of premium data ensures the adjustment of international market prices with the market coverage. 

The decentralized infrastructure: At Chainlink, both the transmission and sourcing of data on-chain are decentralized in nature. Therefore, the infrastructure ensures that there is no centralized point of breakdown or failure. 

The nodes are highly reliable: The price feeds of Chainlink are held secure by the oracle nodes. The decentralized network of oracle nodes is Sybil-resistant, security-reviewed, independent, and renowned for its proven uptime history. 

Independent of any type of blockchain: Chainlink can operate irrespective of the type of blockchain. Its blockchain-agnostic nature enables its oracle nodes to integrate with any blockchain.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button