Feb 18, 2022
MEDIA EYE NFT Portal Integrates Chainlink Price Feeds for Enhanced Price Accuracy
MEDIA EYE is NFTs UNBOUND!
MEDIA EYE is excited to announce that we have integrated Chainlink Price Feeds and further plan to integrate Chainlink VRF, enabling us to provide a transparent, high-quality user experience secured by industry-leading decentralized oracle infrastructure.
MEDIA EYE NFT Portal Beta Launching Soon
MEDIA EYE NFT Portal is a Blockchain-as-a-Service (BaaS) platform for NFTs that offers a unique combination of services for creators, businesses, and crypto enthusiasts alike.
MEDIA EYE is slated to launch a unique and in-depth suite of services within its NFT Marketplace, including the MEDIA EYE Hub, Events Gallery, Airdrops with Bounties, Collections, Automated Rewards Pools (across multiple blockchains), NFT Bundling, NFT Cross-Chain Transfer, Minting on ETH/BSC/FTM, Cross-Chain Subscriptions, Charity, Millions Pixels Canvas, Artist Royalties, and more.
MEDIA EYE NFT Portal is built to create and enhance new and existing use cases for NFTs, including buying, selling, minting, collecting, promoting, branding, and creating value with NFTs. The MEDIA EYE platform is designed to offer a “frictionless” experience to its users by implementing a broad array of multi-chain functionality as a platform that is fully interoperable with EVM-compatible blockchains.
The Beta launch includes support for Fantom, Ethereum, and Binance Smart Chain. Further expansion to more blockchains is set to follow, including Avalanche and others in 2022. By integrating Chainlink services, we have selected battle-tested infrastructure that provides secure data and off-chain computation to our users.
Price Accuracy for Payments with Chainlink Price Feeds
Chainlink Price Feeds are used to help MEDIA EYE set prices for fixed-price listings where sellers can choose to receive payments in multiple tokens, while they also help facilitate various payment methods. By using Chainlink Price Feeds, we can calculate and determine the highest bids on NFT auctions using standardized values, while allowing participants to denominate payment in the currency of their choice.
Using centralized or low-quality feeds for pricing can leave users with exchange rates that are not representative of market rates, giving a poor user experience and leaving room for exploitation. Instead, using Chainlink gives us several key features, such as:
- High-Quality Data — Data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
- Reliable Nodes — Price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
- Decentralized Infrastructure — Both the data sourcing and transmission on-chain are decentralized, removing any central point of failure.
- Blockchain Agnostic — Chainlink is blockchain agnostic and already live on Ethereum, BSC, Fantom, and more, making it straightforward integration with the ability to quickly expand MEDIA EYE into new blockchain environments in the future.
“After integrating these Chainlink solutions, our platform now has far more functionality and security. The decision to use Chainlink was easy, as it is the industry standard for secure off-chain data and computation. We look forward to integrating Chainlink VRF in the near-term.” — Victor Yampolskiy, Key Contributor
About Chainlink
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.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About MEDIA EYE NFT Protocol
MEDIA EYE is community-centric and highly focused on helping its users create value with NFTs across a broad range of market segments. The platform also focuses on reducing costs for its users by offering the first cross-chain subscription service in the NFT sector. MEDIA EYE removes the technical experience barrier for inexperienced blockchain users, though it’s an easy to use, fun, and stress-free platform.
MEDIA EYE is NFTs unbound!
For more general information, visit our Dashboard.
Also, to stay up-to-date on the MEDIA EYE platform, visit the official MEDIA EYE community links below:
