At DoinGud, we recognize that NFT technology is still in its infancy. In order to innovate, we need to be open to ever-evolving applications and functionality for NFTs across generative art, Metaverse assets, and even practical use cases such as ownership deeds for real land and property.
This is why we’re planning to support both static NFTs and dynamic NFTs to maximize creative potential on our platform.
But what makes an NFT static or dynamic in the first place?
Static NFTs vs Dynamic NFTs
Even if you’re an experienced NFT collector, there’s a good chance that most NFTs you’ve seen so far have been static NFTs.
To be clear, when we refer to an NFT as “static,” we’re not talking about the NFT’s image. Static NFTs can still feature videos, animated imagery, unlockable elements, and all sorts of unique complexities that make NFTs so exciting right now for both collectors and creators.
Rather, we’re talking about its data. A “static NFT” is an NFT with permanently immutable traits and data recorded on the blockchain. Put simply, this means that a static NFT cannot be altered.
On the other hand, a “dynamic NFT” is an NFT with traits and data that can be continually changed through outside influence.
So for example, a static NFT trading card of a baseball player would reflect that player’s stats during a single season. By contrast, a dynamic NFT of a baseball player could hypothetically update its stats on the fly to reflect that player’s real-world performance.
“Dynamic NFTs are the logical next step for the NFT space, allowing unique items to evolve, and sometimes decay. This replicates the ephemeral nature of the real world and potentially gives exceptional value to a collected item because of its current state. NFTs transitioning from being ‘only’ static to being dynamic can be thought of as progressing from 2D to 3D, it enables an immense possibility of use cases.”
— Adrien Berthou, Head of Crypto-Native Comms at DoinGud
Dynamic NFTs and Oracles
For many art and collectible NFTs, static data makes the most sense.
After all, one of the biggest draws to NFTs is the permanency of storing data on decentralized, immutable blockchains. This immutability stops someone from, for example, creating an NFT with a picture of a cat and then changing it into a picture of a dog after it sells.
But as NFTs push boundaries in areas like gaming, where interactivity is essential, some NFTs may benefit from the ability to change in various ways.
This is where oracles come in. Oracles are third-party data feeds (i.e. API3) that connect blockchains to external systems. In essence, this means that dynamic NFTs can utilize oracles to constantly change based on new information, real world information, while still being decentralized and truly ownable.
As an example, if a game developer wanted to create an NFT sword that changes form every time it rains, they could utilize an oracle to pull weather data that automatically updates the NFT accordingly.
Rather than needing human input to continuously update the NFTs data, the oracle does it automatically, in a decentralized fashion.
Partnering with Ceramic
While some dynamic NFTs may benefit from decentralized oracle data, other dynamic NFTs could even utilize limited user input.
Imagine, for example, an NFT guestbook where the owner could write their own message inside. A dynamic NFT such as this would need strict permissions and access control rights to ensure that only the NFTs current owner could leave a message.
This is why DoinGud has partnered with Ceramic Network — a decentralized, open source network for storing and managing mutable data. Ceramic utilizes NFT:DID support to give an NFT owner the ability to update aspects of its content, along with the identity protocol IDX, which allows users to link multiple blockchains, wallets, and social accounts to one unified identity.
Through our partnership with Ceramic, DoinGud will launch as the first NFT ecosystem on Ceramic mainnet, giving creators unprecedented freedom to make customizable, innovative, and truly dynamic NFTs.
- NFTs 101: Demystifying This New Asset Class (DoinGud Blog)
- NFTs 101: Key Benefits of NFTs (DoinGud Blog)
- NFTs 101: What the Heck is an NFT Drop? (DoinGud Blog)
DoinGud is an NFT ecosystem focused on inspiring creativity and positive social impact. We pride ourselves on accessibility and sustainability, providing next-gen Web3 tools to empower our community to create, curate, collaborate, and connect with one another in the digital space.
Thank you for being part of this journey with us.
Article also published on our medium blog.