NFTBank launches market data on Chainlink

NFT portfolio management service NFTBank has made its NFT market data available on-chain through Chainlink (LINK/USD), Invezz learned from a press release. The leading decentralized oracle network in the blockchain industry delivers data to on-chain applications seamlessly and securely.

By using Chainlink oracles, NFTBank offers market data for BAYC, CryptoPunks, and other flagship NFT projects directly on-chain for immediate use within DeFi and other smart contract applications.

A wide range of smart contract use cases

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Developers can now use NFTBank’s reliable and solid NFT market data to launch a wide variety of smart contract use cases, such as using NFT collections as collateral for DeFi loans, fractionalized NFT ownership, and other projects that rely on an aggregation of data sources for NFT market data.

Chainlink technology has become industry standard

NFTBank chose to partner with Chainlink for its data delivery because its secure and future-proof oracle technology has become industry standard. The management service can connect to a myriad of prominent blockchains and layer-2 platforms through Chainlink to reach the widest market possible.

In the long term, the NFT portfolio management system wants to expand the NFT ecosystem through tools unlocking valuable use cases. It aims to improve the visibility of user NFT purchases, yield-based returns, and overall inventory value.

Top of the line features

NFTBank chose Chainlink as its oracle solution because of top of the line features such as credential management, wide adoption, blockchain agnosticism, and security.

Chainlink nodes can securely manage API keys and account logins, leading to a seamless integration in which Chainlink nodes can purchase NFTBank API subscriptions like traditional users are doing at the moment.

Chainlink is the most widely used oracle network in the blockchain industry, offering partners access to a vast addressable market of potential data consumers. It can make data available on any current or future blockchain environment. Moreover, Chainlink is proven to secure billions of dollars in value live in production.

Jen Kim, Head of Product at NFTBank, commented:

The supporting infrastructure for NFTs is still in its infancy. By making CryptoPunks and BAYC market data available to smart contracts through Chainlink, we’re both maximizing the number of developers we can reach with our NFT valuation data and increasing the utility of blue chip NFT collections.