Shark Tank star Mark Cuban recently aired his thoughts on Ethereum’s upcoming “Merge” upgrade. He pointed out how Ethereum’s utility as a smart contract platform and as a deflationary asset are at odds. In an interview with Altcoin Daily on Sunday, Cuban explained that there is an inverse relationship between deflation and utilization of Ethereum. “If utilization goes up, and the value of a token goes up, then the cost to do something goes up,” he explained. “So you have…
According to the announcement, Chiliz will now be able to utilize Chainlink’s network to trigger the execution of smart contracts based on real-time data and events. This integration will make it possible for Chiliz mint NFTs for partners in real-time, using securely provided data available on Chainlink’s network.
Moreover, Chiliz looks forward to launching a Chainlink Price Reference Contract for CHZ/USD to provide accurate on-chain pricing for the pair. This critical price feed uses security from a compendium of 7 nodes which collect data from non-identical APIs, creating an efficiently reliable CHZ token conversion.
The integration will enable Chiliz to create powerful NFTs that apply to the real world and sporting events in real-time. Furthermore, it will allow the platform to limit the number of collectable tokens to honour sporting events. For example, users can only mint a limited number of tokens if a player scores a hat-trick.
Alexandre Dreyfus, CEO and Founder of Chiliz & Socios.com, gave his remarks saying NFTs will be the pathway to unlocking the mass utility of $CHZ in 2020 and beyond. He claims the platform is lucky enough to have the right partners and plans to add more as time goes by this year. Dreyfus said the partnership spells multiple opportunities to mint the limited-edition licensed collectable.
Dreyfus added that the Chainlink integration would boost Chiliz’s involvement in real-world sporting events in real-time. He said this would enable his platform to mint limited available NFTs to celebrate unpredictable or uncreatable moments, giving these tokens real collectors value.
Chiliz claims to be the leading digital currency platform for sports tokenization and world leaders in blockchain-based fan engagement. The platform already has partners including giant football clubs such as FC Barcelona, Juventus, A.S. Roma, and PSG.