NFT Marketplace LooksRare Integrates Chainlink Tech to Power "YOLO" Feature

Key highlights:

  • LooksRare is raising the stakes in NFT gaming by launching its "YOLO" feature, which allows users to bet their NFTs for a chance to win big prizes.
  • To keep things honest, they recruited the undisputed kingpin of oracles - Chainlink.
  • With Chainlink's proven VRF tech providing the random numbers, players can be certain their fate was decided fairly without anyone secretly loading the dice behind closed curtains.

The world of blockchain gaming is heating up as projects seek to bring provably fair, trustless experiences to players. One NFT marketplace is upping the stakes with a new feature powered by industry-leading decentralized oracle solution Chainlink.

Transparent winners on LooksRare

LooksRare, a prominent player in the NFT trading scene, recently unveiled "YOLO", an on-chain raffle where users can stake NFTs for a chance to win prizes. To ensure the game stays honest, LooksRare turned to Chainlink VRF to select winners.

VRF, or Verifiable Random Function, allows Chainlink node operators to output cryptographically secure random numbers coupled with proofs of their accuracy. This gives users definitive proof that no rigging or foul play determined the victor.

As anyone who's lost a bet can tell you, games of chance can leave you questioning the integrity of the process. With VRF, LooksRare players can rest assured their luck was down to the whims of provable randomness - not a dice roll behind closed doors.

Why Chainlink is King of the Hill

But why integrate Chainlink specifically? The marketplace considered alternatives like block hashes but decided only the oracle leader could meet their standards for security, transparency, and trustlessness.

Block hashes offer a degree of randomness, but greedy miners could potentially skew results. VRF sidesteps this with its ability to produce numbers finalized after the request - totally uncensorable.

Not only that, but Chainlink backs each figure with a cryptographic proof only the generator can produce. This puts doubters' minds at ease that the wheels of fortune were honest, no matter the outcome.

As any competitive gambler knows, trust is everything at the table. With backing from the blockchain's most battle-tested oracle, LooksRare players can kick up their feet and enjoy the games - their prize money as legitimate as the numbers that decided it.

The future is fair

Experiences like YOLO are the next stage in a blockchain gaming renaissance. Where old games relied on centralized systems with opaque RNG, new decentralized approaches restore control and verifiability to users.

Chainlink VRF promises to power many more projects following LooksRare's example by supplying the verifiable foundation of trust underpinning their systems. As the tech spreads, expect robust, truthful mechanics to become the industry standard - leaving players with nothing to second guess, just dice to roll. The future of fair play is coming into focus, and it's bringing big wins for Dapp builders and players alike.

The LINK has mirrored broader market trends over the past year, falling from highs above $50 in early 2021 to current levels around $6.

Price-wise, LINK has generally held the $5 to $7.5 range this year, bouncing between support and resistance. Short-term moving averages point to potential consolidation around current levels before another leg up and the price of Chainlink is predicted to reach as high as $ 36.05 next year

So place your bets, roll the dice, and let the numbers fall where they may. Just know with Chainlink on their side, the chance is always in your favor.