Chainlink’s had a steady flow of significant announcements this week. On Monday, Elwood Technologies, a company that recently secured a $70 million raise co-led by Goldman Sachs, announced their integration of Chainlink to provide leading market data points and analytics onto blockchains. On Tuesday, Stake DAO announced their integration of Chainlink Keepers to improve their automation, decentralization, and overall effectiveness, and on Wednesday, Chainlink Price Feeds went live on Moonbeam.
To cap off the week, Upshot, a provider of NFT analytics announced today that it’s become a data provider on the Chainlink Network. Upshot will be providing analytics data including NFT market caps, price floors, and valuations of specific NFTs to smart contracts. The goal of this is to help unlock new possibilities for DeFi applications.
“High-quality valuation data is powering new NFT use cases through the DeFi economy,” stated Nick Emmons, founder of Upshot. “By becoming a data provider on the largest decentralized oracle network in the smart contract industry, we’re able to help increase the adoption of NFTs as a new asset class and contribute to the growth of more sophisticated NFT-based financial products.”
Upshot providing analytics via Chainlink will allow dApp developers to leverage Upshot’s data as they work to build new and improved smart contract use cases. Upshot’s NFT data feeds will support developers in building decentralized prediction markets, lending/borrowing platforms, options and futures contracts, yield farming products, and more.
The first user of these data feeds is nftperp.xyz, a perpetual futures DEX that allows users to long or short the floor price of NFT projects such as Bored Ape Yacht Club (BAYC).
Upshot provides insight into NFT markets and unlocks a wave of innovation at the intersection of NFTs and DeFi. Their suite of tools includes Upshot Analytics, the gmi index, and the Upshot API, which help collectors and enthusiasts explore the world of NFTs and the Metaverse.
Recent announcements around Chainlink have shown the network’s continued growth, as it expands various services to Solana, Avalanche, and Moonbeam.
