Mogul is expanding its integration with the market-leading oracle network Chainlink to integrate Chainlink VRF, a verifiable randomness solution, to ensure the security of Mogul’s upcoming movie-based NFT marketplace. By integrating Chainlink’s novel VRF solution, Mogul will gain access to a secure and transparent source of on-chain entropy for generating and distributing provably rare NFTs.
Mogul’s movie-based NFTs can represent different scenes in Mogul-produced movies, signed movie scripts, and even executive producer credits. Mogul will also issue collections of dynamic NFTs with provably rare attributes built directly into the on-chain token. Chainlink VRF enables Mogul’s movie-based NFTs to be distributed to Access Pass holders and collection purchasers in a provably fair manner, ensuring all users have an equal opportunity to obtain the rarest and most desirable NFTs.
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. Any user can verify the cryptographic proof with the block data and oracle node public key to ensure that the entropy produced is authentic. Thus, Chainlink VRF provides a transparent and tamper-proof source of on-chain randomness for smart contract applications.
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