We are all used to the fact that NFT is a non–interchangeable token, and since it exists only on the blockchain and is immutable. However, the process of NFT development does not stand still and new NFT standards are being invented.
Today I will tell you about one of these, namely dNFT (dynamic NFT). What are they, where are they used and what are their advantages and features?
Dynamic NFT – what is it?
Dynamic NFT is an NFT that can change depending on external conditions. For an NFT to be dynamic, it doesn’t have to be a moving image like a GIF or a video. Of course GIFs and videos can be NFT, but they will also be static NFT.
A change in dynamic NFT often refers to changes in metadata caused by a smart contract. This is done by encoding automatic changes in the NFT smart contract, which provides the underlying NFT with instructions on when and how its metadata should be changed.
Imagine that you are a dynamic NFT, as we change over time. For example, you went to the beach and you got a tan, these are the external conditions that affected you, now in your metadata information about skin color has changed to “tanned".
If you were a static NFT, it doesn’t matter if you were tanned on the beach or not, your skin color parameter will not change in any way. This is the qualitative difference between static and dynamic NFT.
Features and advantages of dynamic NFT
Creating dynamic NFT has opened up new possibilities in Web 3 and allowed tokenizing a lot of interesting things. Let’s analyze the main features and advantages of dynamic NFTs:
- No reissues or new NFT are needed. This will greatly simplify the work of many platforms, especially those that depend on some external conditions, or are connected with our real life. With each change, the user will not have to spend a new NFT with already changed parameters. Since his picture is always relevant because of the ability to edit metadata;
- Increased interest from users. It means that with the dNFT standard, projects can maintain the interest of the community for longer. Since many users, especially holders or hodlers, having bought NFT, can simply forget about it, since nothing will happen to it. Now, every change will bring with it a new behavior of the market, it will revive, and sales will appear again.
To be continued...
