Illuvium to Include Price Feeds through Chainlink Oracles

Illuvium to Include Price Feeds through Chainlink Oracles

When crypto markets crashed in January 2018, Illuvium CEO David Lee said it was “business as usual” for their company. The team is looking to remove the barriers between gamers and blockchain with a new service that integrates Chainlink oracles into its own games so developers can more easily incorporate cryptocurrency trading on an actual game’s platform.

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The “illuvium price prediction” is a new cryptocurrency that will be released by the Illuvium project. The project plans to include price feeds through Chainlink oracles.

Illuvium to Include Price Feeds through Chainlink Oracles

Illuvium to Include Price Feeds through Chainlink Oracles

 

Illuvium, a popular metaverse game, recently announced that its Chainlink connection will be expanded. As a consequence of the change, Chainlink’s network of decentralized oracles will soon be able to supply price feeds to the project. Users will be able to appropriately price digital lands regardless of whether they are trading in ETH or sILV2.

Land is a crucial component of Illuvium Zero, as those acquainted with the project are likely aware, and people who control it may utilize it to manufacture valuable goods such as tokens and fuel. Meanwhile, they may use ERC-20 tokens to build frameworks on these land plots and upgrade them as required.

Currently, Illuvium has attracted hundreds of thousands of people who have registered to take part in the project’s Land Sale. Another reason the project felt compelled to do all in its power to build an open and fair procedure and eliminate substantial gas prices is because of this.

Information about the property sale

The land will be sold in a three-day Dutch auction, according to the project’s plans. The sale will begin with a predetermined price, which will progressively decrease until all of the land has been acquired. The proceeds from land sales will be shared among the project’s stakeholders.

Land in Tiers 1 to 4 may now be purchased using Ethereum coins or sILV2 tokens. Tier 5 land parcels will only be available for purchase in return for Ethereum. Because the team wants to keep the ETH-sILV2 pricing ratio as exact as possible, the way transactions function on Illuvium will remain same.

However, these use cases left the network with just one option: to employ Chainlink pricing feeds. Chainlink is a project that collects off-chain data and delivers it to the blockchain through an oracle network. It provides vital data to smart contracts in this way, enabling them to operate and self-execute in real-time.

Chainlink’s network was recognized as an enterprise-grade oracle for obtaining exact data since the oracle network evaluates the data and assures that it is genuine and validated. This made Chainlink an exceptionally trustworthy source of information. Illuvium will reassure consumers that the prices they are seeing are actual and authentic, and above all, fair plot pricing, thanks to this integration.

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Illuvium is a mineral that is found in the soil.

Illuvium is a metaverse game that bills itself as Ethereum’s first AAA game. It includes community-run services that are regarded as some of the finest in Web3. Chainlink, on the other hand, is an obvious option for any smart contract-running network due to its market success and the quality of its oracle network.

Various DeFi protocols that are connected with the platform have already obtained billions of dollars in funding while maintaining their decentralization. Chainlink is decentralized in and of itself, with various layers of decentralization at the oracle node, data source, and network levels.

The game itself is set in a digital environment populated by creatures known as Illuvials. The goal for the players is to explore the planet, find these animals, and capture them by defeating them in combat. The animals become a faithful part of the players’ collections when they nurture them back to health.

They may then be utilized to fight other players in fights, making this a hybrid of open-world exploration and PVP. Players may also become the genuine owners of each monster, or sell them on the NFT markets, since each creature comes in the form of an NFT.

Visit our Investing in Chainlink guide for more information.

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