Bitspawn Is Integrating Chainlink Price Feeds for Reliable NFT Marketplace Pricing
Big things are happening at Bitspawn. We are integrating Chainlink Price Feeds on Solana to help ensure accurate pricing of NFT assets in our marketplace, allowing users to trade digital items and exchange them for physical goods at fair-market prices.
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Notable for helping secure tens of billions of dollars across leading blockchains, Chainlink provides tamper-proof inputs, outputs, and computations to support advanced smart contract applications. Chainlink has been integrated into hundreds of decentralized applications (dApps) to enhance their functionalities, and will undoubtedly help Bitspawn achieve its ambitious goals in the coming years.
At Bitspawn, we have created a gaming blockchain protocol for digital athletes and social gamers. Built on the Solana blockchain, the Bitspawn Protocol offers players tournament solutions they’ve needed for a long time. The gaming industry has previously faced roadblocks from dishonest tournaments and hosts. Until now, regular gamers have had little chance of engaging with tournaments, while competitions have been guilty of not paying on time. Bitspawn was created as a solution that offers legitimacy and accessibility in the gaming tournament world.
The mission of Bitspawn is simple: make esports accessible and profitable to gamers across the globe. That means not just the players with huge followings, but everyone who plays. The core values of Bitspawn are centered on providing a solution to longstanding issues in the esports industry, from protecting the rights of esports participants to fixing the broken business model of esports.
The focus of Bitspawn is on infrastructure-oriented solutions. Bitspawn’s ambition is to unlock the possibility for hundreds of millions of gamers, millions of teams, and tens of thousands of sponsors, advertisers, and organizers to build a robust esports ecosystem that is all-inclusive. Using Bitspawn, each stakeholder can now organize and securely connect with each other, becoming a part of a global esports ecosystem.
In order to help ensure accurate NFT pricing in our marketplace, a core piece of our gaming ecosystem, we need 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 a blockchain oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
Some of the key reasons we selected Chainlink include:
- 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 from outliers and suspicious volumes.
- 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 with a strong track record for reliability, even during high gas prices and extreme network congestion.
- 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 the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“Integrating Chainlink Price Feeds was an easy choice as they have a proven track record of bringing reliable data to smart contract applications,” said Eric Godwin, Co-founder and CEO of Bitspawn. “Our team is excited to be integrating Chainlink’s industry-leading oracles as they will provide us with the high-quality data we need for accurate NFT pricing in our marketplace.“
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About Bitspawn Protocol
The company behind Bitspawn, was co-founded in 2019 by Eric Godwin, Lukas Kamandulis, Rhys Boulanger, and Alex Lan. Together, they make a mighty team with expert know-how in blockchain, esports, and marketing. The company has several highly developed Tier 1 VC funds that help boost the esports platform, Bitspawn reaches its millions of followers through top-tier social media, keeping players up to date on the ever-evolving enhancements of Bitspawn.