We’re excited to announce that Fancy Bears Metaverse has integrated Chainlink Verifiable Random Function (VRF) on Ethereum mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to help pick winners in the Fancy Bears Holders Ferrari Giveaway. Ultimately this creates a more exciting and transparent user experience, as the Fancy Bears community will be able to closely watch one of the biggest NFT giveaways ever.
This is the holder’s exclusive giveaway. The rules are very clear — one Fancy Bear counts as one ticket.
The full list of prizes in Fancy Bears Holders Ferrari Giveaway include:
- 1 Ferrari
- 10K USD
- 20 pairs of rare sneakers
- 80 cards
In order to help ensure that the randomness helping choose Ferrari Giveaway winners is transparent and verifiable, we needed 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 Fancy Bears Metaverse 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 the RNG being used for the giveaway is provably fair and was not tampered with by the oracle, outside entities, or the Fancy Bears Metaverse team.
“The randomization supplied by Chainlink VRF has been time-tested and is provably secure. This allows Fancy Bears Metaverse to provide our community with stronger assurances surrounding the transparency and fairness of the Ferrari Giveaway.” — Jakub Chmielniak, Co-founder of Fancy Bears Metaverse.
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 Fancy Bears Metaverse
We are being called the Bored Ape Yacht Club of Europe, but our true goal is to revolutionize the whole NFT space.
First and foremost, Fancy Bears are the creators of NFT 2.0 phenomenon, which is known best as the Trait Swap App. The Trait Swap allows you to customize your NFTs: enhance it, swap the traits, trade and make it even more dynamic and exciting. NFT 2.0 Trait Swap App includes Bored Apes, Mutant Apes, Azuki, Doodles, Cool Cats, and more.
The change that we intend to bring to the NFT world has been brewing for some time now. Our idea to make our exciting space even more revolutionary and dynamic was born just after the initial Fancy Bears public sale, more than two months ago. We needed many clean whiteboards, passionate discussions, calls, diagrams, steps back, iterations, and sleepless nights until we were 100% sure that the concept was just what NFT communities needed. But — firstly, we wanted to start with the Bears.
Every single trait, both the original collection and the new traits, will be an ERC1155 token, the same standard that was used for BAYC Serum or Adidas Originals pass. And every trait swap would mean that the ERC1155 token is being staked in the contract (as long as the trait remains in use).
Instead of trying to merge Web2.0 and Web3.0 solutions, we decided to go all-in and introduce a full on-chain model for modifying the way your NFT looks.