bitsCrunch Joins Chainlink BUILD Program to Accelerate Adoption of NFT Markets

 

bitsCrunch X Chainlink

We’re excited to announce that bitsCrunch—a platform for AI-based NFT analytics—is officially joining the Chainlink BUILD program. As a part of BUILD, we plan to maximize our support as a data provider for the Chainlink ecosystem as a way to accelerate the development and adoption of NFT analytics solutions made possible by Chainlink’s infrastructure. In return, we will provide real-time data, network fees, and other benefits to the Chainlink ecosystem.

bitsCrunch is an active believer in Chainlink, the undisputed industry standard for making external data and trust-minimized off-chain computation available to Web3 applications. Our participation in BUILD is central to our development of customized oracle infrastructure that brings better analytics of NFT markets to the blockchain ecosystem. BUILD can also aid us in attracting users and gaining increased awareness thanks to support from an active and diverse Chainlink ecosystem.

We’re confident that Chainlink BUILD will help us realize our vision of thriving NFT markets based on advancements in NFT analytics and pricing data offered by bitsCrunch.

How bitsCrunch Provides Data Insight on NFTs Markets

bitsCrunch aims to provide a consistent and reliable experience for digital asset (NFT) markets. Our suite of AI-based analytics helps create more trust, transparency and accuracy for users and NFT dApp developers by filtering out wash trading within NFT marketplaces, delivering more accurate NFT pricing data, and scanning for digital art forgery. 

Using bitsCrunch data, dApp developers, traders, and collectors can build models to estimate the base value of NFTs, produce tailored market reports and competitor analysis, account for price manipulation, protect against forgery, and better understand the latent opportunity in NFTs. The ultimate vision of bitsCrunch is to be the standard NFT-analytics engine for all global dApps. 

Why We Joined Chainlink BUILD

bitsCrunch joined BUILD to fully realize the benefits of security, reliability, and advanced utility that Chainlink’s oracle infrastructure provides in order to make available our NFT market data to dApps, as well as to tap into the expertise provided by the Chainlink ecosystem. This expertise includes technical support when designing NFT oracles and guidance when navigating the challenging Web3 landscape.

As part of our participation in BUILD, bitsCrunch is committing a percentage of the bitsCrunch token supply to pay Chainlink service providers, including stakers, for Chainlink services over time. These economic incentives better align the Chainlink ecosystem with the operations of bitsCrunch.

We’re excited to join Chainlink BUILD to gain access to industry-standard oracle services and enhanced support from the highly successful Chainlink ecosystem. Chainlink BUILD will be key in building the most reliable and secure AI-based NFT analytics platform in the industry, and making it available to smart contract developers around the world. We look forward to continuing our collaboration together and welcoming the Chainlink community into the bitsCrunch ecosystem.– Vijay Pravin Maharajan, CEO of bitsCrunch.

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 reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About bitsCrunch

bitsCrunch is a leading global data analytics platform specializing in multi-chain insights for NFTs and digital assets. Established in 2020, we are pioneering crypto data forensics to allow retail, institutional and venture investors to make better decisions with our cutting-edge NFT analytics dashboard and AI-powered fraud investigation tools

Whether you’re an NFT marketplace, lending protocol, ‘hodler’ or even a full chain, bitsCrunch offers the most comprehensive insights to create a sustainable and transparent path for you or your customers.

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Frequently Asked Questions

NFTs are Non-Fungible Tokens, and in layman terms, representing digital art or collection, video clips of best moments in the sports and entertainment field, gaming skins and collectibles, stored in a distributed ledger powered by blockchain technology. These are unique items and are not interchangeable with another NFT.

Generally, things are valuable when they are scarce. There is only one Mona Lisa. There are only 59 Le Bron James dunking NBA Top Shots (one of which sold for $US387,000).

The primary difference between the two is that unlike cryptocurrency and digital currency, NFTs cannot be traded for each other as they are unique. representations of real-world assets. Cryptocurrencies and digital currencies can be traded for each other as there will be no loss to their value.

An NFT is a unique digital signature that you can attach to an asset. Whether that’s a song, or an image, or a piece of footage, a unique digital signature is like a fingerprint that contains information like who created the asset, when, and any conditions on its future sale (for example, whether or not the creator gets a percentage of when it is on-sold).

BCUT is the native digital utility token, it provides access to bitsCrunch services and the bitsCrunch network.

BCUT is the native digital utility token, it provides access to bitsCrunch services and the bitsCrunch network. It is designed to play a vital role in the functioning of the bitsCrunch ecosystem and is intended to be solely used as the primary utility token on the network.

We are a Cross-functional team with more than 25+ years of experience in Data Analytics & Artificial Intelligence and Blockchain. We already have all the NFT data since its inception. We blend our AI expertise with the Blockchain to bolster the NFT ecosystem.

We have built a model to identify the impersonation of artworks, thereby preventing the Provenance of the artist and the artwork. We are offering our services in a SaaS manner, wherein the customers can stake a certain amount of our native tokens to avail our services.

We haven't launched our BCUT Token yet, but we will send out a confirmation on the launch of the token on our official website and official Telegram channel.