HTML-based dynamic NFTs aim to elevate the event attendees' engagement now, and after the event.
During the past several months, we've seen a whirlwind of activity and speculation surrounding non-fungible tokens, or NFTs. From multi-million dollar deals for unique apes to cinematic rugpulls decimating communities, NFTs have become a mainstream phenomenon that many know nothing about, let alone dynamic NFTs.
Let's start at the beginning. NFT stands for Non-Fungible Token. It's like a digital certificate of ownership that you can attach to anything, like a piece of artwork or a virtual item in a game. This certificate contains information about the item, like its name, description, and special features, all of which are called metadata that can be manipulated however the creator sees fit.
Dynamic NFTs are a type of NFT that can change based on certain conditions. These changes occur based on criteria set out in the NFTs smart contract. Data points from outside validators, for ex. IoT endpoints, send triggers to the smart contract to change the NFTs metadata as these criteria are met.
For example, in a game, the virtual item's strength or appearance could change based on how much the player uses it. As a player "levels up", their NFTs metadata can change to increase the in-game's item strength. It may also change the appearance of the item as well, providing NFT holders the ability to play to earn rare rewards and dynamic NFTs.
One popular example of dynamic NFTs is CryptoKitties, a game where you can collect and breed virtual cats. These cats are NFTs, and their appearance and attributes can change as they age or mate with other cats.
The main difference between dynamic and static NFTs is that dynamic NFTs are designed using a different set of rules (called the ERC-1155 token standard) that allow them to be semi-fungible and changeable, while static NFTs are more rigid and use the ERC-721 standard.
Dynamic NFTs are poised to bring ticket stubs to life. As digital collectibles and memorabilia continue to grow, so does the ability for marketers to track ongoing brand engagement based on stub holder activity.
1. Interactivity: HTML-based dynamic NFTs allow for rich, interactive experiences that can engage the viewer and add value to the collectible. This engagement can change pre, during, and post-event based on how the ticket holder engages with the event brand. Think about animations, mini-games, or even simple forms that let the owner personalize the NFT based on what they do.
2. Dynamic content: With HTML, you can easily integrate external data sources, APIs, or smart contracts into your NFT, making it truly dynamic and always up to date. This opens up new possibilities for real-time applications, gamification, or even predictive analytics.
3. Flexibility: Unlike traditional image or video NFTs, HTML-based NFTs are not limited by resolution, aspect ratio, or file size. Dynamic NFTs can be any shape and size; from a simple 3D animation to a large-scale VR immersive experience personalized for the ticket holder.
4. Accessibility: HTML is a universal language that can be displayed on any device or platform, from desktops to smartphones to wearables. This means that your HTML-based NFT can reach a wider audience and be enjoyed by more people.
The ability to continuously change metadata while tracking engagement throughout the entire lifecycle of an event ticket provides a profound opportunity for increased loyalty and retention. Events now have the opportunity to directly engage with their audiences through blockchain ticketing platforms like INSID3RS.io.
As web3 technology continues to evolve, so will the benefits and dynamics of what blockchain ticketing has to offer event organizers.
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