If NFTs have seduced many people so far, their popularity index 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 the followers of the digital universe.
Dynamic NFTs, a new vision of digital assets
Digital has been on everyone’s lips for a few years. With the exponential growth of cryptocurrencies, digital is becoming more and more important and we don’t really know what to expect. Having given grace to their more or less bizarre designs, NFTs have become an emblem of wealth.
The personalities in fact do not do without it and the collections are linked. However, if you’ve been seduced by the old version of non-fungible tokens called static, dynamic NFTs will make you see things in a completely different way. Unlike static NFTs, dynamic NFTs change based on events that occur in real life.
How ? Through intrinsic properties registered and added to the token metadata. Therefore, the non-fungible token can radically change and evolve according to the criteria predefined by its creator. They are therefore very different from Bored Ape Yacht Club or some Crypto-punk and promise a new evolution of an industry 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 traits or traits. They can even change the design of a token.
But to do this, they need Ethereum’s ERC1155 token. Hence, non-fungible dynamic tokens work thanks to Oracles. These allow the activation of smart contracts via web API and IoT data. The collection The Melo Ball is a concrete example of dynamic NFTs.
The latter uses the Chainlink Oracle and records various player stats. From his “Red Mars” which represents his points scored to his “Blue Neptune” which reflects his rebounds, the shapes and metadata will change according to the player’s performance IRL.
For this reason, if LaMelo Ball wins a major NBA competition or title, the NFT would also change to reflect a new avatar image. It can therefore be understood why dNFTs are so important. In addition to being the next generation of innovation in the NFT space, they are also present in many industries. Among others, health, sports, gaming and many others.
Dynamic NFTs are unique as they connect non-fungible tokens even more to the real world. However, if they allow you to change the characteristics of the token, they need to activate the 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-fungible tokens as the dynamic NFT code is safe.
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than to write informative articles and relax at the same time.