Bitcoin News and Finance
OVR Using Chainlink to Connect the Metaverse to Real World Data and Events Skip to main content

OVR Using Chainlink to Connect the Metaverse to Real World Data and Events

OVR.ai is announcing a live and ongoing integration with Chainlink, the marketing-leading decentralized oracle network that provides smart contracts with secure and reliable off-chain data and computation. The current integration involves the use of Chainlink Verifiable Randomness Function (VRF) to fairly and transparently select a special grant fund winner from the list of participants taking part in the upcoming OVRLand Treasure Hunt. Additionally, the OVR team plans to leverage Chainlink oracles throughout the platform to connect the physical world to OVRLand’s digital metaverse, enabling a virtual experience that’s impacted by the real world.

OVR is a decentralized platform for geolocalized Augmented Reality (AR) / Virtual Reality (VR) experiences, with a vision to merge the physical and the virtual world through AR. OVR allows users to build, host, and visualize AR/VR experiences that are customized to specific geographic locations.

This is accomplished by OVR dividing the digital world into 300 sqm hexagons called OVRLands, which each represent actual physical geographic locations. Each OVRLand is tokenized using the ERC-721 NFT standard on the Ethereum blockchain. The owner of each OVRLand NFT can assign the AR visual experience for the specific geographic location that their NFT represents.

But what if you could embed decentralized logic into OVRLand NFTs? What if you could take off-chain/geographic data and use it on the blockchain to supercharge interactions within the OVR decentralized metaverse?

Here is where Chainlink comes to play, allowing OVR to securely and reliably connect real-world events to blockchains in order to trigger smart contract executions. Data such as randomness, geolocation, weather, and more can all be fetched from off-chain sources and supplied on-chain via Chainlink-powered decentralized oracle networks.

The most immediate use case for OVR is leveraging randomness to determine metaverse events. However, the source of randomness must contain high assurances that it can’t be manipulated or predicted to gain unfair advantages, especially when the randomness is responsible for the movement of real economic value. This is why the OVR team selected Chainlink VRF to determine the winner of our 15k OVR token final extraction prize, which serves as a community reward to treasure hunters and to participate in our wider 50k grant for OVRL and buyers. The extraction process will be done through a public and deterministic algorithm that will iterate through the ordered list of OVRLand IDs, with Chainlink VRF used to generate and supply the random number used to fairly and transparently select a winner from the list.

Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The OVR smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides users with automated and publicly verifiable assurances directly on-chain that selection using Chainlink VRF is provably fair and cannot be tampered with or predicted by the oracle, outside entities, or the OVR.ai team.

In the future, the OVR team also anticipates using a variety of Chainlink Data Feeds beyond VRF. Let’s break down some concrete examples on how Chainlink Data Feeds can supercharge blockchain metaverses and OVR.

Imagine having AR/VR experiences that are not only geolocalized but also “aware” of real world conditions:

  • AR game logic modified by the result of a football match or an election
  • AR location information modified by weather conditions
  • AR in-game tokens unlocked if a threshold amount of people are present in a location
  • AR/VR experiences unlocked if an artist wins a Grammy award

But these are just a few examples—any real world data source that can be streamed with an API can be reliably delivered on-chain by Chainlink oracles. The data can be integrated in smart contracts to create infinite types of interaction logic within the OVR metaverse—imagination is the only limit!

According to OVR.ai CEO Davide Cuttini, “Using Chainlink VRF for fair selection in the OVRLand distribution event is only the first step in a much wider set of Chainlink-OVR integration possibilities that can redefine the entire AR/VR industry. We are excited to showcase the potential of combining reliable off-chain data with decentralized metaverses to create vibrant and interactive virtual worlds that users can trust to function as intended.”

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory