Illuvium, a popular metaverse game, recently announced plans to expand its Chainlink integration. As a result of the move, the project will soon include price feeds that Chainlink can provide through its network of decentralized oracles. This will allow users to accurately price digital lands, whether they are transacting in ETH or sILV2.
As those familiar with the Illuvium project likely know, the land is an integral component of Illuvium Zero, and those who own it can use it to create valuable assets, including tokens, as well as fuel. Meanwhile, ERC-20 tokens allow them to construct frameworks on these land plots and update them when needed.
Right now, Illuvium has already managed to attract hundreds of thousands of users who have registered to participate in the project’s Land Sale. This is another reason why the project found it necessary to do everything in its power to establish a transparent and fair process, and eradicate major gas fees.
Details about the land sale
According to the project’s plans, the land sale will be conducted in a three-day Dutch auction. The sale will start with a fixed price, which will then start to drop gradually until all the land is purchased. The revenue coming from the land sales will be distributed among the project’s stakers.
Currently, users can choose to buy land in Tiers 1 to 4, by using Ethereum coins or sILV2 tokens. As for the Tier 5 land, these plots will only be available in exchange for Ethereum. The project wishes to ensure that the ETH-sILV2 price ratio will remain as precise as possible, which is why the way transactions work on Illuvium will stay the same.
However, these use cases left only one choice for the network, and that is to turn to Chainlink price feeds. Chainlink is a project that uses an oracle network to collect the off-chain information and deliver it to the blockchain. In doing so, it feeds valuable data to smart contracts, allowing them to continue to run and self-execute in real-time.
The oracle network compares the data and ensures that it is valid and verified, which made Chainlink an extremely trusted source of information, while its network was recognized as an enterprise-grade oracle for accessing precise data. Through this integration, Illuvium will reassure users that the prices they are seeing are real and legitimate, and above all else, fair plot prices.
About Illuvium
Illuvium is a metaverse game that describes itself as the first AAA game on Ethereum. It features community-governed services that are considered to be among the best in Web3. On the other hand, Chainlink’s market performance and the quality of its oracle network is making it a clear choice for any smart contract-running network.
The platform has already secured billions of dollars for various DeFi protocols that are integrated with it, while still keeping their decentralization. Chainlink is decentralized itself, featuring multiple decentralization layers at the oracle node, data source, and network levels.
As for the actual game, it is a digital world inhabited by creatures called Illuvials. The players’ task is to explore the world, uncover these creatures, and capture them by beating them in battle. After they nurse the creatures back to health, the creatures become a loyal part of the players’ collections.
They can then be used for engaging in battles with other players, making this a mix of open-world exploration and a PVP. And, with each creature coming in the form of an NFT, players can become their true owners, or even sell them on the NFT markets.
To learn more visit our Investing in Chainlink guide.
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