LuxFi Will Launch a Chainlink Node

LuxFi is delighted to announce that they will be launching their own official Chainlink node to make their premium luxury goods data available on blockchains. Chainlink is a secure blockchain middleware that allows traditional APIs to become easily compatible with blockchain networks. Through the LuxFi Chainlink node, they can supply and sell data directly to smart contract applications running on blockchains.

LuxFi’s Chainlink node will provide a variety of datasets about the luxury market, such as SKUs, primary and secondary market prices, and market trends. The data can be used by smart contract developers and blockchain-enabled luxury goods companies to build various decentralized applications like providing markets insights using our data intelligence, and pricing luxury goods on-chain so they can be tokenized, traded, and used as collateral for DeFi applications.

“Launching a Chainlink node will provide us with an oracle solution that seamlessly integrates our existing API datasets into blockchain-based markets, opening up new revenue streams for our company and allowing innovative applications to be built by developers. The luxury market can benefit tremendously from blockchain technology, and we believe that through Chainlink our data will be highly useful for pricing and verifying luxury assets on-chain for smart contracts.”—Aidaa Wong, CEO and Founder of LuxFi

LuxFi’s data intelligence system is able to convert raw data from social media and sales channels, SKUs, and various luxury brands into valuable information and business insights for decision-makers. In order to make luxury assets markets possible on blockchains, they require well-curated data specifically about the industry.

ABOUT LuxFi
LuxFi is a real-world luxury asset-backed NFT DeFi solution: a new way to unlock the true value and increase the liquidity of the real-world luxury assets through our Layer-2 blockchain technology. They eliminate counterfeiting by minting an NFT on our platform and provide accurate NFT pricing that is backed by real-world data. LuxFi opens all the potential utility of idle luxury assets into decentralized finance powered by NFT.

ABOUT Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.

RESOURCES
Medium