OraNFT
Utilizing Chainlink Functions, we've built a machine learning and pricing appraisal oracle network for NFTs & gaming assets. It's time to enact a pricing standard for long-tailed NFTs that lack liquidity and trading history!
Project Description
OraNFT has created a decentralized oracle network that combines our transparent machine learning algorithm to achieve price discovery for long-tailed digital assets. We're following the principles of credible neutrality outlined by Vitalik in 2020 that states "when building mechanisms that decide high-stakes outcomes, it’s very important for those mechanisms to be credibly neutral." When building infrastructure for new financial instruments (like in NFTFi), its important to gain the trust of end users and eventually implement a standard that every participant feels is fair. Just like rewarding efforts for mining a blockchain.
How it's Made
We mainly use NFT pricing APIs and Chainlink functions. We first connect APIs in the Chainlink Functions playground and then write a consumer smart contract to call the APIs. Chainlink functions help us a lot. It has done a great job for us. Then the application layer calls the oracle contract to request an NFT appraisal. Here we use a front end page as an application layer to get NFT price data and validate the price according to the trait weights.
