Phantasia will have access to high-quality, tamper-proof price streams needed to create a cutting-edge marketplace with in-game skin NFTs, vanity items, and more. Buying and selling are done on the basis of fair world exchange rates.
Phantasia chose Chainlink as their oracle go-to solution because its infrastructure is perfect to integrate and time-tested in production. Chainlink is already helping protect major DeFi protocols responsible for tens of billions of dollars in smart contract value while maintaining robust security and high availability even in the event of stock market downtime, flash crashes, and data manipulation attacks via flash.
Phantasia is an innovative fantasy sports platform that incorporates scalable game mechanics to earn cash. Users compete in their favorite sports competitions against their friends to earn the native FANT token, which can be used to purchase NFT in-game.
To establish safe and accurate exchange rates in its market, they need to access new asset prices that are delivered straight to the chain in a highly reliable manner. Fair market asset values should reflect a volume-weighted average of all trading environments. Therefore, Phantasia uses an oracle to retrieve the aggregated off-chain pricing data and deliver it on-chain for use by its application.
After looking at various Oracle solutions, Phantasia selected Chainlink’s pricing data as it provides a variety of critical features such as volume and deleted outliers. Chainlink’s data aggregation model generates more accurate global market prices that are resistant to API failures, sudden outliers, and data manipulation attacks such as flash loans.
High frequency of updates – Chainlink’s price feeds running natively on Solana can make frequent price updates at minimal cost, resulting in accurate price data that consistently reflects current market conditions.
Decentralized Infrastructure: Chainlink’s price feeds use decentralized networks of professional node operators managed by leading DevOps blockchain teams and traditional businesses with strong uptime experience during market volatility.
Chainlink’s sports data includes game scores and critical player reports from high-quality sources such as the Associated Press, which will be game-changers across the platform and ecosystem.
Introduction to Chainlink
Chainlink is the industry standard for creating, accessing, and selling Oracle services required to support hybrid smart contracts on any blockchain. The Chainlink oracle network reliably connects to external APIs. It uses off-chain computing to provide smart contracts to enable rich applications. Chainlink is currently securing tens of billions of dollars in DeFi, insurance, gambling, and other key industries and provides global enterprises and major data providers with access to all blockchains.
In Phantasia’s play-to-acquisition model, players can get FANT tokens by completing in-game quests and winning contests. This allows users to create “fan cards” from NFTs.