Upshot Is Now a Data Provider on the Chainlink Network, Helping Bring Premium NFT Analytics to Smart Contracts

Upshot, a leading provider of NFT analytics, is becoming a data provider on the Chainlink Network—the industry-leading decentralized oracle solution. Through Chainlink, we’ll be able to provide our analytics data, which includes live appraisals of top NFTs, NFT market caps, price floors, holder information, and more, to smart contracts, unlocking a wave of new DeFi possibilities.

dApp developers are now able to leverage Upshot’s NFT analytics 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, lending/borrowing platforms, options and futures contracts, yield farming products, and more. Our first user is nftperp.xyz, a perpetual futures DEX that allows users to long or short the floor price of NFT projects such as Bored Ape Yacht Club (BAYC).

Upshot provides deep insight into NFT markets and unlocks a wave of innovation at the intersection of NFTs and DeFi. Our suite of tools, which includes Upshot Analytics, the gmi wallet grading index, and the Upshot API, helps DeFixNFT builders and collectors explore the world of NFTs and the metaverse using powerful data. Leveraging novel machine learning models and crowdsourcing technology, Upshot provides close to real-time price feeds for NFTs regardless of how frequently they change hands. This creates a broad new frontier for NFT markets, enabling an entirely new class of financial primitives, from NFT indices to synthetics.

We chose to supply our NFT analytics through 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 Upshot 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.

“High-quality valuation data is powering new NFT use cases through the DeFi economy,” stated Nick Emmons, founder of Upshot. “By becoming a data provider on the largest decentralized oracle network in the smart contract industry, we’re able to help increase the adoption of NFTs as a new asset class and contribute to the growth of more sophisticated NFT-based financial products.”

About Chainlink

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.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Upshot

Upshot is a blockchain-based protocol providing industry-leading NFT appraisals and NFT wallet grading. By delivering accurate appraisals at unparalleled scale through machine learning, Upshot enables the creation of powerful solutions at the intersection of DeFi and NFTs - for the industry and themselves. Upshot Analytics is currently available in private Beta and will open to the general public soon. The Upshot API is currently available and being used by teams to inform their projects. You can learn more about Upshot, its capabilities and sign up for the Analytics Beta at https://upshot.xyz/ .