How are dynamic NFTs different from static NFTs? Although not yet mainstream, dynamic NFTs can be altered by changing metadata through automated smart contracts. How can you make the most of this unique characteristic for gaming, tokenized real estate, and several other interesting use cases? We find out through examples, exploring a few strategic business use cases, and more. Watch episode 6 (https://youtu.be/O6lnMriLVt0 )on the Web3 Webinar with Shaan Ray, Head of Web3 Partnerships. For more information on Web3 and its wide-ranging potential, read https://www.ionixxtech.com/solution/web3-blockchain-solutions

3. We are a technology company with a design-first approach that helps forward-looking Startups and Enterprise Firms
with:
● Web3 solutions
● FinTech solutions
● & HealthTech solutions
We do this through Cloud-enablement, Enterprise agility, UX Design and other cutting-edge web and mobile
technologies.
About Us
About the Speaker
Shaan Ray is a technology researcher and Web 3 specialist who helps organizations
unleash the power of emerging tech in reshaping their business goals.
Under his mentorship, companies embrace transformative solutions to tap new
markets and fresh customer segments.
Shaan specializes in Web3 and emerging tech.
shaan.ray@ionixxtech.com www.ionixxtech.com https://linkedin.com/in/shaanray https://twitter.com/shaanray

4. What Is A Dynamic NFT?
▪ A Dynamic NFT or dNFT, is a type of NFT that can
change some of its inherent properties based on
external conditions. These changes are recorded
and added to the metadata of the NFT.
▪ Smart contracts, triggered by data from oracles
and other on-chain and off-chain events, cause the
changes to occur in Dynamic NFTs.

5. How It Works
▪ Dynamic NFTs primarily use Ethereum’s ERC1155 token as of
now. Similar token proposals are being worked on by other
blockchain platforms, including Solana
▪ In a Dynamic NFT, smart contracts provide instructions on
how the dNFT’s metadata should be changed given a
triggering event based on external data
○ Which comes in through an oracle or an on-chain
event
▪ A base NFT is created first, after which smart contracts that
govern updates, unlocking hidden traits or features, and
image enhancements are put into place. These changes are
conditional and only happen when a smart contract is
triggered
○ Each smart contract can be triggered by events that
can be on-chain or off-chain, as well as time, price, or
location-based events

6. Example: Dynamic Art
▪ A piece of digital art in a dynamic NFT can
change colors or hues and display specific time-
bound features depending on:
○ The location in which it is displayed
○ The temperature
○ Season
○ Time of year
○ Or lunar position.
▪ For the elements to change, smart contracts
would have to be put in place to pull data from
APIs or oracles relating to the events in question

7. Use Cases
There are several use cases that this innovation in NFTs will
unlock. Below are a few examples, but several more are
emerging.
● Generative art where various traits can change or
evolve based on external conditions.
● In-game character progression, where new levels or
traits are unlocked as the character progresses in a
game, and this data can be stored in the metadata of
a Dynamic NFT.
● An in-game object can become more efficient when
a character takes a specific action. The action triggers
an increase in efficiency.
○ For example, the speed and accuracy of a racecar
in a game can improve when a user takes it for
servicing and updates its wheels, but as time
goes by, the efficiency reduces.

8. Use Case: Tokenized Real Estate
Tokenized real estate where changing
metrics of the underlying asset can be
updated and represented on its NFT.
Image and example courtesy of Chainlink.
House dNFT Metadata
Address
1001 Blockchain Rd.
Maintenance History
None
Age
1 Year
Past Sales
2021/$400,000
House dNFT Metadata
Address
1001 Blockchain Rd.
Maintenance History
2027/New Door
2029/New Roof
Age
16 Year
Past Sales
2021/$400,000
2025/$450,000
2027/$500,000

9. Other Use Cases
● Identity and certifications based on Dynamic NFTs.
Passports with Dynamic NFT elements that save the
latest version of a person’s travel history and personal
information.
● Assets in augmented reality worlds can be owned
using dynamic NFTs, and their traits and features can
be updated using a series of user-generated actions
and location-based events.
○ For example, an interactive augmented reality
hologram of a tour guide standing in front of the
Itsukushima Shrine can change the information it
gives to tourists based on the season, time of day,
and the level of the tide. The entire experience can
be owned by a dynamic NFT which uses smart
contracts and oracles to govern and customize the
experience

10. Conclusion
▪ Dynamic NFTs are living tokens that can change
and evolve over time. The terminology in this
space is evolving as well, traditional NFTs are
increasingly being referred to as “static NFTs”
because they remain the same
▪ Dynamic NFTs are an important innovation. They
enable an extensive range of use cases and
enhance the capabilities of the Web3
environment. Dynamic NFTs will be an essential
tool that brings the natural and digital worlds
closer

11. How We Can Help
Here are some ways in which we can help you create and
manage your Dynamic NFTs and Smart Contracts based
Solutions:
● Dynamic NFT Advisory services
○ platform choice
○ translate logic and processes into code
● Create the checks and measures your project requires
● Create the right set of smart contracts for your project
● Integrate on-chain and off-chain oracles to your
Dynamic NFTs
● Comprehensive relationship mapping and
documentation of all smart contracts and dNFTs
● Audit and test your code
● Provide design side support for your project
● Help you create and launch the tokens for your project
● Launch your project live on a live platform

12. Get in Touch
Email: shaan.ray@ionixxtech.com
Web: www.ionixxtech.com
Telegram: @shaanray
LinkedIn: https://linkedin.com/in/shaanray
Twitter: https://twitter.com/shaanray
Dynamic NFTs
Questions?