We’re excited to announce that Nefertiti, a data analytics hub for NFT collectors, is becoming a data provider on the Chainlink Network—the industry-leading decentralized oracle solution. Through Chainlink, we’ll be able to provide our premium NFT market data and analytics, such as the appraisal value of an NFT collection using a Time-Adjusted Market Index, to smart contracts and dApps such as NFT prediction market Mimicry.
Projects like Mimicry are now able to leverage Nefertiti’s NFT analytics data to support them in building a wide range of smart contract use cases that rely on high-quality NFT data feeds, such as decentralized prediction markets for NFTs, options and futures contracts, yield farming products, and more. Please see the documentation here.
Nefertiti offers a range of solutions to help Web3 companies (and their customers) take advantage of the great potential of NFT data. These include exchanges, investment funds, gaming guilds, crypto tax audit providers, and lending protocols. Nefertiti’s multi-chain Enterprise API offers real-time NFT insights including appraisals, rarity analysis, floor price tracking, and more, helping their customers navigate the everchanging NFT market and identify great projects.
Mimicry—the first user of Nefertiti’s NFT analytics data supplied through the Chainlink Network—is a decentralized derivatives protocol for NFT collections. Inspired by the Synthetix protocol’s pooled collateral model, ‘mimics’ are fully collateralized derivative tokens on Polygon that leverage Chainlink oracles to follow the market cap of an NFT collection. Anyone can mint new Mimics using the Mimicry platform, and in the future network participants may also collateralize their positions using the Mimicry Network Token (MIME) to receive rewards.
Through the unique combination of Nefertiti’s NFT analytics data, Mimicry’s NFT prediction markets, and Chainlink’s decentralized infrastructure, a novel product can be created that increases access to more sophisticated financial products in the NFT ecosystem and broadens the utility of NFTs as a financial primitive.
We chose to leverage Chainlink because it provides a multitude of critical features that make integration simple and secure, such as:
- Credential Management — Chainlink nodes can securely manage API keys and account logins, leading to a seamless integration in which Chainlink nodes can purchase Nefertiti API subscriptions in the same manner that traditional users do today.
- Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be made available on any current or future blockchain environment.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, already proven to secure billions of dollars in value live in production.
“The supporting infrastructure for the NFT market is still in its infancy,” stated Koby Karp, founder of Nefertiti. “By becoming a data provider on the largest decentralized oracle network in the smart contract industry, we’re able to deepen our footprint in the expanding non-fungible economy and help increase the adoption of this new and exciting asset class.”
“Nefertiti’s high-quality analytics and Chainlink’s battle-tested infrastructure help enable us to play a critical role in the NFT economy by creating NFT prediction markets,” said Aslan Goldenhour at Mimicry. “By integrating Chainlink’s decentralized oracle network, we are able to secure our NFT prediction markets with tamper-proof price data.”
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Nefertiti helps businesses (and their customers) take advantage of the potential of NFT data and identify market opportunities. Their AI-powered solutions offer real-time insights on various NFT markets, ranging from Collectibles to GameFi assets and Metaverse land plots.
They provide several Data Analytics, Appraisal and Alerts tools for a variety of industries, including Exchanges, Investment Funds, Gaming Guilds, Crypto Tax Audit Providers, Lending Protocols and more.
Mimicry is a decentralized derivatives protocol for NFT collections. Mimicry’s mission is to protect retail investors from getting REKT by unlocking illiquid markets. Our permissionless derivatives protocol for NFT collections allows people to bet on the future price of their favorite NFT collections with virtually unlimited liquidity and no slippage.