If so far NFTs have attracted many people, their popularity rating can literally explode with dynamic NFTs. Unlike the classic immutable arguments that everyone knows, the new version of these assets is a real revolution for followers of the digital universe.
Dynamic NFT, a new vision of digital assets
Digital has been on everyone’s lips for several years. With the exponential growth of cryptocurrencies, digital it’s getting bigger and bigger and we don’t really know what to expect. After giving grace to their more or less eccentric designs, NFTs have become an emblem of wealth.
Indeed, personalities do not do without it and collections are connected. However, if you have been lured by the old version of non-fungible tokens called static NFTs, dynamic ones will make you see things in a completely different way. Unlike static NFTs, dynamic NFTs change based on real-life events.
How? Through inherent properties recorded and added to the token’s metadata. so non-exchangeable token it can radically change and evolve according to criteria predetermined by its creator. Therefore they are very different Bored Ape Yacht Club or several Crypto punks and promise a new evolution of a sector which 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 essentially static NFTs. then smart contracts take over by unlocking hidden features or traits. They can even change the pattern of a token.
But to do that, they need Ethereum’s ERC1155 token. So dynamic non-fungible tokens work thanks to Oracles. These enable the activation of smart contracts through web API and IoT data. The collection LaMelo ball is a concrete example of dynamic NFTs.
The latter uses the Chainlink oracle and records various player statistics. From his “Red Mars” representing his points scored to his “Blue Neptune” reflecting his jumps, shapes and metadata will change depending on the player’s IRL performance.
Because of this, if LaMelo Ball won a major NBA championship or title, the NFT would also change to reflect a new avatar image. Then one can understand why dNFTs are so important. Besides being the next generation of innovation in the NFT space, they are also present in many sectors. Among other things, health, sports, games and many others.
Dynamic NFTs are unique as they connect immutable tokens even more closely to the real world. However, if they allow changing the characteristics of the token, they need its activation smart contracts. However, they have many advantages. Indeed, dNFTs will increase the authenticity of NFTs. At the same time, they will stop scams and scams related to immutable tokens as dynamic NFT code is secure.
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The world is changing and adaptation is the best weapon to survive in this wavy universe. As a grassroots crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. To share my experience and popularize a field that fascinates me, nothing better than writing articles that are informative and relaxed at the same time.