Chiliz Partners with Chainlink to Mint NFTs in Real Time

News / 06.03.2020

Chiliz announced on March 4 that it has partnered with blockchain platform Chainlink, to allow for real-time nonfungible token creation.

According to the announcement, Chiliz plans to leverage Chainlink’s capacity to trigger the execution of smart contracts based on real-time data and events. This integration will make it possible for Chiliz mint Non-Fungible Tokens (NFTs) for partners in real-time, based on data securely provided by Chainlink’s network.

Furthermore, Chiliz will launch and support a Chainlink Price Reference Contract for CHZ/USD for accurate on-chain pricing for the pair. This important price feed is secured by an aggregation of 7 nodes, ensuring the highest reliability for CHZ token conversion.

The integration will enable Chiliz to create dynamic NFTs that are responsive to real world and real time sporting events. In addition, it will enable the platform to mint limited available collectible tokens to commemorate the sporting events. For example, a limited amount of tokens can be minted when a soccer player scores a hat-trick in a game.

Commenting on this partnership, Alexandre Dreyfus, CEO and Founder of Chiliz & Socios.com said NFTs will be key to expanding the utility of $CHZ in 2020 and beyond. He claims the platform has already got amazing partners and plans to add more as the year progresses. Dreyfus said this will create multiple opportunities to mint limited-edition licensed collectible.

Dreyfus added that, the Chainlink integration allows Chiliz to be responsive to real world sporting events in real time. He said this will enable his platform to mint limited available NFTs to commemorate moments that can’t be predicted or recreated, giving these tokens real collectors value.

Chiliz claims to be the leading digital currency platform for sports tokenization and world leaders in blockchain-based fan engagement. The platform already has partners including giant football clubs such as FC Barcelona, Juventus, A.S. Roma, and PSG, among others.

Featured image courtesy of Shutterstock. Source: Cryptopress.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.