Your duck got legacy
Without a doubt, 2022 is going to be the year of dynamic NFTs. We are already seeing more collections experimenting with adding dynamic components. Some great examples of this are Little Lemon Friends which recently became a dynamic art collection with the introduction of Pixel Lemons, and Cool Pets which are evolving based on the owners’ actions.
With Rubber Duck Bath Party, we’re incredibly excited to be part of a new wave of artists and technologists pushing the boundaries of what the 360° NFT experience could look like. Dynamic NFTs don’t just add dynamic capabilities, but also introduce new concepts and depth to an NFT. In our last article, we explored how dynamic NFTs can strengthen connections between different communities, and today we want to talk about the concept of legacy.
Bath parties?
For those who are new, let’s start with a quick refresher of bath parties! Rubber Duck Bath Party is a dynamic collection and changes based on the individual decisions of collectors. How? By attending Bath Parties! Once in a while, we organize a party and as a duck collector you get to decide if you want to send your duck to a party. The only thing we promise is that your duck will come home changed. Bath Parties are the core mechanism that drives the dynamic nature of the RDBP collection.
NFTs with legacy
Let’s talk about what this change actually means for your duck. When a duck attends a party and changes, we encode this as an evolutionary step in the life of your NFT. In other words, you don’t ever lose your previous duck, but you gain an additional jpeg! After each party, the metadata of your token gets updated and will now point to the new version as well as all historical versions. All the versions of your duck will still be part of your token and all of the information is encoded in the metadata. In other words, the entire legacy and evolution of your duck is an integral part of your NFT.
When we look at the example above, Duck #2424’s metadata includes all three versions and points to three different images. All versions are part of the token and available for anyone that wants to read and use the metadata. On your duck page (launching right after reveal!) you will be able to view the entire legacy of your duck. OpenSea, LooksRare, MetaMask, and other wallets will always display the latest version of the duck, which in the above example is version 3. As dynamic NFTs gain more prominence, we believe that we will see big players expand support for dynamic NFTs.
No duck can ever be regenerated, and all versions of your duck will be completely unique. Going to bath parties essentially adds a new and entirely unique duck to your token and all this happens without diluting the collection!
There’s more than rarity
Collectors have long used rarity to assess the value of individual NFTs within a collection. With the introduction of dynamic NFTs, we expect to see collectors develop new strategies to assess the value of NFTs. When looking at a duck, you might be interested in understanding the rarity of each previous version as they are a core part of the token and the rarity of the latest version might not be all that counts.
Some collectors might be drawn to ducks that have an interesting or compelling legacy, who doesn’t like a good “started from the bottom, now we’re here” story — it could very well be that ducks that are living an interesting life are more valuable than ones who haven’t.
Lastly, we’re encoding party behavior in the metadata and the number of parties a duck has attended will influence future access to exclusive parties. We can imagine that the party decisions that a certain duck has made will influence how collectors assess its value as well.
Party with an open mind
We are incredibly excited to discover how RDBP collectors are going to behave, what they will value in a duck, and how they will go about developing their party strategies. Part of what makes it so exciting to be pioneering dynamic NFTs with RDBP is that we get to define this new space, as builders and as a community. Be prepared to be surprised, both by us and by each other!
