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What are dynamic NFTs? 🧬
They are shaking things up, and the possibilities are endless.The debate over dynamic NFTs and regular NFTs - is it the big bet of the metaverse future?
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Ever wished your NFTs could do more than just sit there?
Say hello to Dynamic NFTs.
They're like the regular NFTs, but with a twist. Think of them as shape-shifters of the digital art world.
It's all thanks to smart contracts and clever coding that make these magical transformations happen.
So, whether it's a surprise image upgrade or unlocking hidden surprises, Dynamic NFTs keep you on your toes and make collecting even more exciting.
Tech For Nerds
Dynamic NFTs function by storing data in a format that can be edited.
While static NFTs are usually created using the ERC-721 token standard, dynamic NFTs use the ERC-1155 standard. That type of token standard is sometimes referred to as “semi-fungible” because it can be changed if required.
Changes to a dynamic NFT can be triggered by a smart contract. Typically, an oracle will send external data to the smart contract, which triggers a change in the NFT's metadata. The characteristics of that NFT, like its appearance, will then be updated.
Dynamic NFTs are shaking things up.
Imagine your in-game character unlocking new powers and abilities as you conquer challenges. Dynamic NFTs make it happen.
Want a race car that gets faster and sleeker? With Dynamic NFTs, your virtual wheels can upgrade their speed and performance. Just don't forget to service them.
Get artsy with generative art. Watch as your NFT evolves and changes its style based on what's happening in the world. It's like having a masterpiece that grows and transforms.
Step into the future of real estate. Dynamic NFTs can represent tokenised properties, and their value can adapt based on real-time data. Who knew owning a house could be this exciting?
Say hello to high-tech passports. Dynamic NFTs can store your travel history and certifications, making your identity more secure and travel experiences more seamless.
Dynamic NFTs let you own virtual assets that react to your actions and location. Your own personal tour guide that adapts to the time of day, season, and tides.
Dynamic NFTs are the gateway to a world where your digital possessions come to life.
Static vs Dynamic
Incumbents vs new kids on the block.
Static NFTs are like digital time capsules. Once they're created, they stay the same forever. So, if you own a rare artwork NFT, its image and info won't change no matter what.
But hold on.
Dynamic NFTs are the cool kids who can adapt and evolve. They have special powers to change based on what's happening around them. Imagine your game avatar NFT transforming its look as you level up.
It's like having a digital chameleon.
Now, let's talk about the NFT data. Think of it like a secret file that holds important info about the NFT, such as its name, description, and transaction history. This info is usually stored separately and can be modified if needed.
Here's the catch: Once an NFT is minted, its ID and address are locked and can't be changed. So, while some NFTs can have their data tweaked, it's not always easy and might require tech skills.
Static NFTs are great for art and collectibles, but dynamic NFTs open up exciting possibilities for real-world assets, fantasy sports, and video games that need frequent updates.
Growth and Evolution
Enter the captivating world of organic growth.
Organic Growth: Crystal Reef
Crystal Reef, where art and technology intertwine. This mind-blowing generative art project, crafted by the talented minds of Danil Krivoruchko, Michael Joo, and Snark.art, takes you on a mesmerising journey.
Imagine owning a unique "seed crystal" that magically transforms into an exclusive OG:Crystal, reflecting your own identity. The smart contract's clever algorithms use your wallet's history and ID to shape the contours of your crystal.
CryptoPunk holders even had a chance to add a special touch to their crystals.
But the excitement doesn't end there. For three months after the first sale, each subsequent sale triggers the algorithm to add new bits to the crystal, evolving its form. Once the shape is "locked," these collective crystals come together to create a physical sculpture that will tour museums and galleries worldwide, inviting art enthusiasts to witness its beauty.
Now, let's talk numbers. While these crystals may not have reached the jaw-dropping prices of Beeple's Crossroad, they hold their own artistic value. With a floor price of just 0.06 ETH (around $100) as of July 2022, Organic Growth: Crystal Reef proves that art is about passion, not just money.
LaMelo Ball NFTs
LaMelo Ball, the NBA's rising star, isn't just shooting hoops but also shooting for the stars with his mind-blowing dNFTs.
Using Chainlink Sports Data Feeds, these NFTs redefine the player-fan connection in epic ways.
Imagine owning one of the eight LaMelo Ball NFTs, each capturing different jaw-dropping stats like rebounds, assists, and points scored. But here's the best part: NFT holders score special perks and exclusive raffle entries based on LaMelo's ongoing performance.
But wait, there's more.
The legendary Gold Evolve NFT took it to the next level. It made a bold bet that if LaMelo won the coveted Rookie of the Year title, the NFT would magically transform into a whole new image. Guess what? LaMelo nailed it, and so did the NFT.
These LaMelo Ball NFTs are like the ultimate game-changers. They embrace the dynamic world of dNFTs, where player stats continuously update on-chain, unlocking display upgrades, sweet rewards, and more. It's like having a virtual ticket to the most exciting basketball extravaganza ever.
Regenerative Resources Short Film NFTs
RRC, an ecosystem services company, has a mission to transform degraded land into thriving seawater landscapes. And here's the exciting part: They're launching five dynamic Short Film NFTs created by top-notch artists. But it's not just about the visuals. The funds raised from these NFTs will be used to seed and grow a whopping 100 million mangroves across RRC's projects.
Here's the twist: Each Short Film NFT starts with just a single frame. But as these NFTs are bought and resold, something magical happens. More frames are released in an ongoing process, slowly revealing the complete short film to the NFT holder. It's like unwrapping a captivating story frame by frame.
So, not only do these NFTs offer an immersive artistic experience, but they also contribute to a greener future. Join the movement, support RRC's mission, and be a part of the journey towards regenerating our precious ecosystems.
Lights, camera, nature.
TTD Week That Was 📆
The week of meme coins and AI smugger.
Saturday: Life in times of AI and meme coins 👀 🙆
Friday: Pepe 🚀 Coinbase 🆙 Crypto 🟢
Wednesday: Can UK break crypto voodoo? 🇬🇧 🥴
Tuesday: Pepe Frog marches on 🐸
Monday: Doubling down on crypto ➿
TTD Week In Funding 💰
zklink $10 Million. Zero-knowledge rollup-backed decentralised trading infrastructure that makes it easier to trade between chains.
Vibe $4 Million. No-code NFT-to-product toolset allows creatives to add utility and value to their tokens.
Tangem $8 Million. Secure hardware wallet solutions designed for the safekeeping and management of digital assets.
Entendre Finance $4 Million. Automated end-to-end accounting and bookkeeping solution for businesses operating in Web3.
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