We’re excited to announce that Mongol NFT—will be starting a lucky edition NFT to their platform that will enable them to select a random winner of the lucky NFT draw that—has integrated Chainlink Verifiable Random Function (VRF) on Polygon, Ethereum mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness. Ultimately this creates a more exciting and transparent user experience, as users can be confident in the lucky draw system that the users are being picked in an honest way and remove any suspicion.
The lucky edition NFT is a new feature we are introducing to our platform. The lucky edition will be powered by Chainlink and will allow a tamper-proof draw system that will choose the winner of a certain NFT at random. This new feature will enable users a new way of purchasing NFTs that will bring on a larger customer base who wants to try out their luck while being confident in the draw system itself.
In order to have an NFT lucky draw in which people trust the system and will not doubt the chosen winners, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
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. The Mongol NFT smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that NFT Lucky Edition is provably fair and was not tampered with by the oracle, outside entities, or the Mongol NFT team.
“With Chainlink’s VRF V2, MongolNFT picks the winner of NFT lucky editon based off of fair and tamper-proof random number so our customers easily check the randomness on-chain.”
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.
About Mongol NFT
Mongol NFT launched its platform in September of 2021. In just six months since launching we have sold over 50,000 NFT drops from over 50 creators generating over $1.3 million in sales and gathering more than 700,000 users as of today. A pioneer in the NFT market in Mongolia we only showcase the best and most authentic Mongolian artworks.