Dynamic NFT — Discover the future of NFTs trends
The adoption of Web3 community among the various people NFTs makes their own way into the mainstream by launching the collection of well-known athletes and public figures. As a result, NFTs are evolved into one of the most prominent applications in blockchain technology.
However, the evolution of NFTs is just getting started. Dynamic NFTs or dNFTs are expanding the space that has the ability to adapt and change its external events and data. In this article, we will discuss dynamic NFTs and their use cases.
What is Dynamic NFT?
Dynamic NFTs or dNFTs is a type of NFT that can change some of its properties which are based on external conditions. These changes are recorded and stored in the metadata of the NFT.
The smart contract has been triggered by the data from oracle and other on-chain and off-chain events that occur to change the dynamic NFT.
How does a dynamic NFT (dNFT) works?
Dynamic NFTs are semi-fungible tokens that are created by using the Ethereum token standard ERC1155. The smart contract provides instructions that how the dNFTs metadata should be changed by giving triggering events based on external data through an oracle or other on-chain events.
First, we should create the base NFT, after the smart contract is updated, unlocking hidden traits or features, and image enhancement put into the places. These changes only happened when the smart contract is triggered. The smart contract can be triggered by on-chain or off-chain events, time, price, and location-based events.
For example, a piece of digital art in dynamic NFT can be changed by colors or hues, and display specific time-bound features depending on the location, temperature, season, time of year, and lunar position.
How to create dynamic NFT:
Before developing your dynamic NFT you need to decide on your item, its variables, and the chain you wish to use. The user developer environment is need to be set up once they have their plan and place.
steps involved in creating dynamic NFT:
- Set up the ERC721 token.
- Upload your NFT image link in the IPFS URIs.
- Complete the compile check.
- Make NFT contract keepers compatible.
- Have the smart contract that will change the NFT based on your defined variables.
- Check your dNFT whether it is dynamically updated as you expected.
- Mint and then deploy your dNFT.
Tools required for dynamic NFT:
Before getting started make sure that you have the required tools.
- A free Alchemy account is required
- Integrated Development Environment (IDE)
- Access to the dNFT GitHub
- IPFS companion
- A faucet and testnet tokens
Note: Look out our NFT Marketplace Development Process
Use Cases:
Dynamic NFTs are the new stage in the development industry and have a vast scope of applications. It plays a vital role in the gaming sector, particularly in the play-to-earn industry. In the games, we see static images that don’t evolve and do not adapt to the environment. By using dynamic NFTs in blockchain games, users are able to change the characters according to weather conditions, age, etc. This will definitely increase the popularity among gamers in P2E and NFT industries.
Another promising application of dynamic NFTs is the NFT sports card. Imagine that you have a unique NFT representing a famous sportsperson. You can make this NFT even cooler by using the dynamics.
The dNFTs can have all the information like games and championship results, goals scored, and other essential data. And your dNFT is changed depending on the external information like the title of the champion when winning, sadness when they are losing, etc.
Future of dynamic NFTs:
Dynamic NFTs are the future of the NFT industry due to their innovative technology. It has the practical relevance than a static one due to the ability to evolve and adapt to current events and conditions.
The dNFTs can also be used for blockchain-based tickets, transferring ownership of physical objects, updating passports automatically, etc.
Security is one of the major advantages of dynamic NFTs. It is fully secured and has clearly defined ownership.
Conclusion:
Dynamic NFTs are an important innovation in the NFT space. It is a living token that can change and evolve over time. They can enable a large number of use cases and enhance the capability of the web3 environment. It is an essential tool to bring the natural and physical world closer.
