AnRKey X Selects Chainlink VRF to Ensure Secure and Fair Distribution of Rare NFTs
SINGAPORE / ACCESSWIRE / February 16, 2021 / AnRKey X, the pioneering decentralized finance (DeFi) gaming platform, announces a new mainnet integration with the industry's most widely-used oracle solution, Chainlink. The integration involves AnRKey leveraging the Chainlink Verifiable Random Function (VRF) to randomly select weekly prize winners of AnRKey X's Rare and APY power boosted Non-Fungible Tokens (NFTs).
These distribution transactions will be labeled as "Chainlink Verified'', further emphasizing the technology's core strength in powering a verifiably random and fair prize distribution mechanism to the benefit of all players. By using Chainlink VRF for in-game NFT drops, AnRKey X sets a new precedent in DeFi Gaming - combining blockchain technology, decentralized finance, and video games.
"We're excited to empower AnRKey X to pioneer completely new blockchain-based elements within the gaming industry by providing them with a provably secure and verifiable source of randomness. This allows AnRKey developers to guarantee the unbiased and tamperproof distribution of rare and highly valuable in-game NFTs, bringing more trust to the gaming industry and its in-game assets." said Daniel Kochis, Head of Chainlink Business Development.
Using Chainlink VRF to generate unpredictability in the gaming industry may shift gamer demand to provably fair sources, particularly as the video game industry experiences a massive growth of revenue due to the global pandemic event in 2020. The Global Games Market Report from gaming analytics firm, Newzoo, shows that in 2021, the global games market will generate 189.3 billion dollars from 2.8 billion players.
The technology currently powering the video game industry's reward distribution models utilizes off-chain Random Number Generation (RNG), which doesn't allow players to prove that the random numbers are truly random and not gamed by the developers or data provider. With a skyrocketing secondary market for in-game assets on gaming platforms such as Steam's Community Market, as well as controversial loot box monetization methods, unverifiable RNG solutions have become increasingly criticized due to fear of manipulation via increased microtransaction spending.
Given the rise of the new "Play-To-Earn" DeFi gaming monetization movement, which often finds itself combined with cutting-edge blockchain technology, AnRKey X becomes one of the initial gaming platforms to move towards transparency by placing many of the game's RNG events on the blockchain, verifiable by anyone. Players staking ANRX will have a fair shot to compete for the ultra-rare, APY-boosting "Golden Chalice NFTs'' offered by AnRKey X. These blockchain-powered game assets (featuring an industry-first "Derived Base Value" that accurately prices the assets) that can be traded on the NFT secondary market with open market platforms such as OpenSea.
AnRKey X's decision to select Chainlink VRF came from the unique on-chain and verifiable RNG solution built for smart contracts. AnRKey X supplies a seed value, which is combined with the oracle node's private key to generate a random number along with an on-chain cryptographic proof to confirm the integrity of the VRF process. By combining the proof and seed, users can independently confirm that all randomness produced by Chainlink VRF is authentic and tamperproof. Since neither the Chainlink oracle nodes nor AnRKey X developers are able to tamper with the RNG process, users receive strong and provable assurances that the RNG is fair and unbiased, giving everyone an equal chance each week of winning a Golden Chalice NFT.
"We're excited to integrate Chainlink VRF to ensure that AnRKey X NFTs are distributed in a provably random manner that's tamper proof and transparent," stated JD Salbego, AnRKey CEO. "This brings game-changing transparency and reliability to DeFi gaming, ultimately allowing users to trust and verify that the AnRKey X process uses fair methods for distributing rewards with real-world value."
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
About AnRKey X
Founded by recognized global leaders in blockchain, crypto assets, and DeFi, the AnRKey X™ protocol platform is a gDEX (Decentralized Finance Gaming Platform Exchange), designed to merge DeFi, eSports, and Web 3.0 NFTs into one on their gaming platform creating a brand new industry called m$ports (money sports). AnRKey X's token, $ANRX, works just like an arcade coin, the more you purchase, play, stake, sell, and compete, the more $ANRX you earn within the AnRKey X™ gaming system.
With over 30+ years of combined experience working with blockchain-focused companies, crypto funds & exchanges, the team aims to combine DeFi liquidity reward farming and staking with community driven eSports and Web 3.0 NFTs. The AnRKey X™ defi game studio will be releasing continuous games in their m$ports™ genre, with their first game Battle Wave 2323™
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