If NFTs have seduced many people thus far, their popularity rating could literally explode with dynamic NFTs. Unlike the classic non-fungible tokens that everyone knows, the new version of these assets is a real revolution for followers of the digital universe.
Dynamic NFTs, a new vision for digital assets
Digital has been on everyone’s lips for a few years now. With the exponential growth of cryptocurrencies, digital is becoming increasingly important and we don’t really know what to expect. Having graced their more or less quirky designs, NFTs have become an emblem of wealth.
In fact, the personalities cannot live without it and the collections are connected to each other. However, if you were tempted by the old version of non-replaceable tokens called static, dynamic NFTs, you will see things in a very different way. Unlike static NFTs, dynamic NFTs change based on real life events.
How ? Captured by inherent properties and added to the token’s metadata. Thus, the non-fungible token can radically change and evolve according to the criteria predefined by its creator. So they are very different from Bored Ape Yacht Club or so Crypto Punks and promise a new evolution of a sector that has regained color after a relatively dark period.
The term dynamic NFT can mislead many investors. But make no mistake, dNFTs as they are called are basically static NFTs. Then the smart contracts take over by unlocking hidden attributes or traits. They can even change the design of a token.
But to do this, they need Ethereum’s ERC1155 token. So dynamic, non-functioning tokens work thanks to Oracles. These enable smart contract activation via web API and IoT data. The collection LaMelo Ball is a concrete example of dynamic NFTs.
The latter uses the Chainlink oracle and records the various player statistics. From his “Red March”, which represents his points scored to his “Blue Neptune” which reflects his rebounds, the shapes and metadata will change depending on the IRL of the player’s performance.
Therefore, if LaMelo Ball were to win a major NBA league or title, the NFT would also change to display a new avatar image. One can then understand why dNFTs are so important. Not only are they the next generation of innovation in the NFT space, they are also present in many industries. Including health, sports, gaming and many others.
Dynamic NFTs are unique in that they connect non-replaceable tokens even more to the real world. However, if they allow to change the attributes of the token, they have the activation of the . required smart contracts. However, they retain many advantages. Indeed, dNFTs will increase the authenticity of NFTs. At the same time, they will put an end to scams and fraud related to non-replaceable tokens as the dynamic NFT code is safe.
Get an overview of news in the world of cryptocurrencies by subscribing to our new service fromdaily and weekly, so you don’t miss out on the essential Coinstand!
The world is changing and adaptation is the best weapon for survival in this undulating universe. As a grassroots crypto community manager, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.