What are Dynamic NFTs?: Use examples and examples
There are many dynamic NFT examples in the cryptocurrency space, including game items that evolve as players progress and digital artworks that are transformed by the actions of collectors, time, or even the surrounding environment.
One of the first examples of dynamic NFTs was the unique work entitled “Crossroad” by Mike Winkelman, also known as Beeple. The NFT was created before the 2020 US presidential election and was to change its appearance depending on the outcome. After Joe Biden became president, the image changed to show former President Donald Trump lying in a heap.
In 2022, the most expensive experimental NFT art project titled Merge by the pseudonymous digital artist Pak sold almost $92 million in “mass” tokens on the Nifty Gateway marketplace. The tokens are combined to form dynamic NFT collectibles that vary in part based on how many tokens were merged. The artwork is generated on-chain using a custom script, similar to the popular “Art Blocks” NFTs.
Art Blocks is a platform for creating and selling generative artworks that are represented by dynamic non-fungible tokens. The pieces of art are algorithmically generated and can be customized by the owner, creating a unique work of art.
Async Art is another platform for creating and collecting programmable artwork that can change and evolve over time based on various external inputs or conditions. The artworks are represented by dynamic NFTs, making them unique and valuable to collectors.
Permission-free NFT marketplace Rarible also allows the creation and sale of dynamic NFTs. An example of a dynamic NFT on Rarible is the “Crypto Warrior” series, which allows collectors to upgrade their non-fungible tokens with additional features and abilities over time.
“Organic Growth Crystal Reef” are dynamic NFTs that have evolved over time. Over a developer-defined period of three months, the crystals grow in properties and transform their appearance based on transactions and time. Also, these crystals can be used in augmented reality (AR) and will soon have physical replicas displayed in art museums.
A more notable example of dynamic NFTs is LaMelo Ball’s dynamic NFT collectibles that maintain records of the professional basketball player’s game statistics and change according to the updates in points, rebounds and assists.
These are just a few examples of how dynamic NFTs being created in the cryptocurrency space are being implemented. As the phenomenon continues to evolve, we can expect to see even more innovative and creative uses of them.
