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Dec 15 • 5 tweets • 4 min read
#Chainlink is pushing the boundaries of what's possible with NFTs, one oracle service at a time.

A thread on NFT innovation 🧵
When you think of #NFTs, you're probably envisioning something like a #CryptoPunk—a unique, 1-of-1 token with an image attached to its metadata that never changes.

This static format represents most NFTs today. But what else is possible with NFTs?
Imagine you have a house NFT. Every time something in it is upgraded, the NFT updates to reflect this. When the house is sold, the token is transferred to its new owner.

This is a dynamic NFT (dNFT)—made possible using Chainlink oracles. blog.chain.link/what-is-a-dyna…
Static or dynamic, what can you do with an NFT other than hold it?

Hybrid NFT-DeFi applications are on the horizon, enabling you to put your NFT to work. NFT lending, prediction markets, indices, and more are now possible.

Here's why: blog.chain.link/nft-floor-pric…
Chainlink NFT Floor Price Feeds are just one of multiple oracle services enabling #Web3 devs to explore new frontiers.

From #DeFi and NFTs to enterprise use cases, Chainlink's secure oracle services unlock the true potential of blockchains.

A primer: chain.link/education/bloc…

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More from @chainlink

Chainlink Profile picture
Nov 15
1/ With the collapse of a once trusted exchange, an unprecedented number of users are migrating to self-custodial wallets.

However, risk still exists in #DeFi with entities like exchanges minting wrapped tokens.

#Chainlink Proof of Reserve is critical for reducing this risk.
2/ Powered by oracles, Chainlink Proof of Reserve enables the reliable and timely monitoring of reserve assets backing wrapped tokens within the DeFi space.

💵 Stablecoins
🌉 Bridged tokens
🏠 Real-world assets
chain.link/proof-of-reser…
3/ While native tokens are common in DeFi, there are a wide range of wrapped tokens that are issued by a diverse collection of entities including:

💱 Crypto exchanges
🏦 Traditional institutions
⛓ Cross-chain bridges
🔒 Asset custodians
Read 12 tweets
Chainlink Profile picture
Oct 5
Thousands of attendees gathered together at #SmartCon 2022 for two jam-packed days of keynotes, presentations, networking, satellite events, and afterparties.

Here's what it was like to be on the ground in #NYC.
2/ The conference took place at The Market Line—an expansive, three-floor space perfect for everything from in-depth technical discussions to making new friends.
3/ There were four presentation stages: Aristotle, Descartes, Rand, and Socrates.

Here, 150+ of the brightest minds from across Web2 and #Web3 spoke about the developments pushing our space forward.
Read 6 tweets
Chainlink Profile picture
May 8
#Web3 builders across the world are coming together to learn about #Chainlink and the benefits of cryptographic truth.

This week, connect with your local Chainlink community at events in #Phuket, #NYC, #LA, #TelAviv, and #Chicago Image
On May 9th in Phuket, discuss the future of the #metaverse with leaders from @Dashpay, @initeio, and @master_ventures at this Chainlink Plugged-In event:
eventbrite.com/e/chainlink-ph…
On May 10th in New York City, explore the #multichain future of Web3 and projects building on #Fantom with speakers from @EverRise and @FantomFDN:
meetup.com/Chainlink-New-…
Read 6 tweets
Chainlink Profile picture
May 3
1/ Cryptographic truth is a new form of trust-minimized computing that fundamentally shifts the nature of trust in society—replacing handshakes, brand reputation, and paper contracts with tamper-proof computer code executed on decentralized networks. Image
2/ Trust-minimization involves methods that limit participants in an interaction from stating false info, stealing from others, going offline, or breaking agreed-upon rules.

When probabilistic variables are reduced, the interaction is more likely to function exactly as designed.
3/ Cryptographic truth is a trust-minimized computing paradigm based on cryptography & decentralized consensus.

Cryptography secures the integrity of actions taken in an interaction while decentralized consensus guarantees fairness, correctness, & uptime when validating actions. Image
Read 7 tweets
Chainlink Profile picture
Apr 8
#Chainlink is moving society from weak paper promises to tamper-proof agreements built on a strong foundation of cryptographic truth.

Explore today’s announcements on #Ethereum and #Polygon.
Helping ensure a verifiably random #NFT mint with @hiveinvestments on @0xPolygon
Supporting provably random gameplay with @Ragnarok_NFT on Ethereum
Read 4 tweets
Chainlink Profile picture
Apr 8
1/ Dynamic #NFTs (dNFTs) are NFTs that can evolve and acquire new attributes based on specific conditions, such as external data.

This ability unlocks a vast number of new #NFT use cases.

A thread on how dNFTs work and what they can be used for
2/ In today's NFT ecosystem, the vast majority of NFTs are static images with fixed metadata.

Once you receive an NFT with specific traits and features, it stays the same forever.
3/ However, many NFT use cases require a more customizable and dynamic approach. Enter dNFTs.

The ability to encode changes to an NFT's metadata based on certain conditions vastly expands what NFTs can do.
Read 9 tweets

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