RedFOX Labs, a Vietnam-based technology company that aims to create innovative and scalable solutions to unlock the true market potential of emerging technology, will run its own Chainlink Oracle node to make esports and gaming data of WAX blockchain to Ethereum ecosystem.
RedFOX Labs announced the news in a blog post published on Saturday, December 19. By running a Chainlink node, the company will have the ability to broadcast WAX gaming and esports data captured by RedFOX API to other blockchains. Ethereum is the first blockchain that will start receiving this data.
WAX, short for Worldwide Asset eXchange, is a blockchain platform that provides the safest and most convenient way to create, buy, sell, and trade virtual items.
The platform offers a full suite of blockchain-based tools that allows anyone to trade digital or even physical items instantly and securely, to anyone, anywhere.
RedFOX Labs, based in Ho Chi Minh, Vietnam, is an emerging tech internet company that identifies and builds successful business models for the Southeast Asian markets. The company has built an NFT app on the WAX blockchain called KOGs.
According to RedFOX Labs, “KOGs are collectible, playable, tradable, non-fungible tokens that act as in-game currency, unlock tournaments and skins, and provide VIP access to special events and virtual metaverses.”
By leveraging Chainlink’s oracle services, RedFOX Labs will provide KOG’s data of games available on the WAX platform to the Ethereum ecosystem. This Chainlink node will provide smart contract developers with full access to RedFOX API.
According to the company, these moves will greatly expand its addressable market as a blockchain data provider, which will serve as the basis for expanding to other blockchains in the future.
Furthermore, it will enable the generation of Ethereum NFTs based on WAX gaming data and users to actively participate in the WAX gaming ecosystem without leaving Ethereum. Ben Fairbank, CEO of RedFOX Labs, commented:
“With the rise in on-chain gaming applications, we’re excited to actively participate in its provisioning by running a Chainlink Node to supply critical datasets needed to foster the development of more advanced and scarce in-game items like NFTs. Cross-chain NFTs are the backbone of future metaverses, and now through Chainlink, we can add a new data-driven dynamic to how they function, where NFTs are generated, traded, valued, and burned automatically based on real-world data and events.”
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