NFracTion Integrates Chainlink VRF to Help Power Fair NFT Raffles and Airdrops
We’re excited to announce that NFracTion — a unique NFT Fractionalizer and top-notch NFT Marketplace — has integrated Chainlink Verifiable Random Function (VRF) on Ethereum and BSC mainnets. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to fairly distribute NFT raffle prizes and airdrops. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can be rest assured that NFT raffles and airdrops are randomly received in a verifiably unbiased manner.
NFracTion is a unique NFT Fractionalizer that “cuts” digital arts into puzzle pieces, providing additional value for collectors and much higher revenue than standard single-piece NFTs. Initially, we are targeting the sports fan community, with a wide range of partnerships with sports-related organizations wanting to launch NFTs.
In order to guarantee the best user experience with no doubts of fraudulency in randomized processes, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by time-tested oracle infrastructure, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The NFracTion smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that NFracTion’s NFT raffles and airdrop distributions are provably fair and were not tampered with by the oracle, outside entities, or the NFracTion team.
In the future, we expect to also integrate Chainlink Price Feeds to bring accurate, tamper-proof exchange rates for buying, listing, and selling NFTs on the NFracTion platform.
“We’re excited about integrating Chainlink VRF to help power truly random raffles and airdrops on NFracTion. As we continue scaling our platform, Chainlink will continue to play an integral part in providing key services that enhance the fairness, reliability, and transparency of our platform.”
Elio Artic
CEO, NFracTion
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 read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About NFracTion
We invite you to follow our official channels for the latest updates on the project. NFracTion’s roadmap is pretty intense and you don’t want to miss a thing.
Website: https://www.nfraction.com/
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