What are dynamic NFTs exactly? What are the possible applications? Why am I still excited today?
My perspective as UX designer and NFT artist.
I'd want to tell you how and why I became interested in non-fungible tokens. The reasons why I'm still enthused about it today.
Blockchain N° 01 by Ebic Jo: This was his visual interpretation of the blockchain in early 2021. It refreshes four times every day, depending on the hour. It was my first dynamic non fungible token.
My first encounter with NFTs
On a gloomy December evening in 2020, I was asked to attend a late business meeting. During the meeting, I understood the fundamentals of non fungible tokens: NFTs. The concept of NFTs piqued my interest.
Clubhouse
A few weeks later, I was spending most of my free time on Clubhouse, listening to folks debate NFT ideas. It was incredibly encouraging, and during COVID, it was a great distraction to talk with so many new individuals. Share ideas, debate, and come up with fresh ideas for the digital space.
Educating myself about NFTs
I have several inquiries concerning NFTs.
Where can I buy Ethereum?
What exactly is a cryptocurrency exchange?
What is the purpose of a Metamask wallet?
How can I transfer Ethereum into my Metamask?
What exactly are these additional gas fees?
Why do some blockchains require so much power?
How may digital NFTs be linked to the physical world?
What is the distinction between a fungible token and a basic token?
Where can I buy Ethereum?
What exactly is a cryptocurrency exchange?
What is the purpose of a Metamask wallet?
How can I transfer Ethereum into my Metamask?
What exactly are these additional gas fees?
Why do some blockchains require so much power?
How may digital NFTs be linked to the physical world?
What is the distinction between a fungible token and a basic token?
As I learned more about this new digital revolution, my interest in the NFT market grew. Finally, I saw the worth of artists, games, music, virtual real estate, and even physical art tokenization.
I got sucked into the NFT world.
Becoming a NFT collector
How did I get started collecting NFTs?
I was fascinated by the entire procedure. How does it feel to buy an NFT? What kinds of transactions occur here? What is it like to buy an NFT? You also notice the work of other artists and wish to assist them. I eventually became an NFT collector as well. My collection has expanded to include digital artworks, virtual real estate, amusing profile images, and access to NFT analysis services.
This provided me with yet another viewpoint on the NFT market. What is it like to acquire an artwork? When and how would I look at the artwork? How can I display NFTs in my home. Even when I produce digital artwork, I display it at home. Do I want to install anything like this? What does it seem like from a distance?
For me, new dimensions in my creative process have emerged.
My Genesis NFT
I used to dabble with digital art. Inspired by Beeple, I began creating and sharing one piece of art every day. Starting and finishing a work of art on the same day was good practice for me as an artist.
The initial artwork, sometimes known as the Genesis artwork, should be magnificent. It took me some time to finish my first NFT. I was thinking about how I might make it more relevant. My attention was aroused by blockchain technology. I had the following questions as an NFT artist:
+ How does the blockchain look like?
+ How will the NFT connect with the blockchain?
+ What kind of noise will it make?
+ Will it corrode and become dusty?
+ How is a digital file linked to a blockchain?
+ How does NFT interact with blockchain?
+ What is the blockchain like at night?
+ Is Ethereum similar to bitcoin?
+ Do the various blockchains have distinct appearances?
+ How will the NFT connect with the blockchain?
+ What kind of noise will it make?
+ Will it corrode and become dusty?
+ How is a digital file linked to a blockchain?
+ How does NFT interact with blockchain?
+ What is the blockchain like at night?
+ Is Ethereum similar to bitcoin?
+ Do the various blockchains have distinct appearances?
These inquiries will keep me busy for the foreseeable future. I'm finding out a lot about the NFT space. My imagination is expanding alongside it.
My Genesis artwork: The moment before minting my first NFT.
A non-fungible token's definition
Why would an artist convert his original artwork into a digital asset?
An NFT can be thought of as the creator's signature. It is a cryptographic unique address that collectors may use to authenticate the authenticity of an artwork. Each token has its own token adresse. This signifies that you cannot divide this type of token.
This was probably one of the intentions behind developing the concept of non fungible token.
This allows you to trace an artwork's beginnings, as well as verify ownership and its history.
Is it possible to produce an NFT duplicate?
No, since the unique signature is invalid. You may download the content of the non-fungible token by right-clicking it. You may even use it to generate a new NFT that is identical to it. However, the signature of this non-fungible token is wrong. As an example, a student of painting may paint an exact replica of the Mona Lisa. We couldn't tell the difference with our eyes, and we needed art specialists to confirm the validity of a work of art.
With blockchains, you can determine whether or not an artwork is an original much more quickly.
As a result, the artist can sign his work. The NFT specifies who created the work of art. Thus, it is possible to determine if the NFT is a Beeple NFT.
An NFT assures that the non-fungible token cannot be replicated cryptographically. We can trust this system because of blockchain technology. Everything can be replicated in a digital environment, which is critical. We may now sell and acquire digital goods like as art, music, virtual real estate, and much more.
Why would someone spend millions of dollars on a single NFT?
Beeple has been performing Everydays for a long time. Every day, he makes and releases a new work of art. He even let others use his artwork for free. Beeple then gave the NFT space a major push. With Christie, he sold an NFT named "Everydays: The First 5000 Days." On one side, it was a large auction house entering the NFT sector. Beeple's NFT was sold for $69 346 250 million.
Is NFT only a hype?
Why are people paying such high prices for the Mona Lisa and only for the original? We could construct an exact clone of it out of superior materials, making it less susceptible to destruction over time. But, no, only the original is valuable. Why is this the case? It appears that many people agree that the Mona Lisa is worth that much money.
The same is happening with digital assets. Because they were the first edition of that revolutionary digital artwork technique, the first NFTs are selling for thousands of dollars. The collectors appear to concur that some of the items have worth while others do not.
With NFTs, you can now prove your ownership in the digital domain.
Smart contacts
As a UX designer, I am obsessed with designing amazing encounters. That's why I chose to work as an interface designer in the first place. You may add fascinating dynamics into your digital artwork with a smart contact.
A basic smart contract example: when a person reaches 18, he or she gets paid a specified amount as a birthday present. Such mechanisms can be stated in a smart contract. The smart contract is executed when the required requirements are met.
You may create dynamic artwork using smart contacts in your NFT. My mind was racing with ideas at this time, so I began gathering them all.
Dynamic NFTs
The majority of NFTs are static artworks, such as movies, images, or 3D objects. In comparison, a dynamic NFT changes itself.
A classic example is the weather. The NFT art piece changes its presentation based on real-world weather data.
If the sun shines, the NFT art work shows sunny content.
How can I generate NFT concept ideas?
I consider triggers, reactions, and analogies. A single event that triggers the NFT to react is referred to as a trigger. The change in NFT is referred to as a reaction.
Analogies can help with the integration of both into a compelling story, increasing the NFT's value.
Triggers
A list of possible triggers:
+ The time of day, the season, ...
+ Weather, temperature, wind speed, ...
+ The price of a share/ETH/gold falls or climbs over or below a specified level.
+ The quantity of NFTs in the wallet
+ Social media: retweet, like, follows, etc.
+ Biometric data: steps, sleep duration, sleep quality, etc.
+ Sports events
+ The NFT has been sold.
+ Ownership Duration
+ Weather, temperature, wind speed, ...
+ The price of a share/ETH/gold falls or climbs over or below a specified level.
+ The quantity of NFTs in the wallet
+ Social media: retweet, like, follows, etc.
+ Biometric data: steps, sleep duration, sleep quality, etc.
+ Sports events
+ The NFT has been sold.
+ Ownership Duration
Depending on the evolution of the ETH price, the art piece changes.
Reactions
When one of the events occurs, the artist may now describe how the artwork changes on it. It is a collection of thoughts. Please contact us if you wish to share your idea.
+ Another layer is revealed by the artwork.
+ The artwork's color changes.
+ The artwork, inspired by Banksy, self-destructs.
+ The NFT updates' meta data.
+ The artist's secret text message is displayed.
+ The owner receives another NFT, often known as an air drop.
+ The artwork's color changes.
+ The artwork, inspired by Banksy, self-destructs.
+ The NFT updates' meta data.
+ The artist's secret text message is displayed.
+ The owner receives another NFT, often known as an air drop.
Examples for dynamic NFTs
+ An NFT deteriorates with time.
+ Music NFT music improves through time, just like a good wine rises in value.
+ The NFT shows snow in December.
+ NFT grows old with you.
+ Every hour, week, month, and year, NFT varies.
+ NFT fluctuates in relation to the current ETH gas price.
+ The NFT varies according on the weather.
+ NFT varies with the sunrise, day, sunset, and night cycles.
+ NFT changes dependent on biometric data such as step count, heart rate, and so on.
+ The NFT in your wallet changes dependent on the other NFTs in your wallet.
+ NFT fluctuates in response to ETH/BTC/stock values.
+ The owner/social artist's media activity influences NFT.
+ NFT varies based on the length of ownership.
+ NFTs vary dependent on the collection's floor pricing.
+ The number of unique owners of an NFT affects its collection.
+ Music NFT music improves through time, just like a good wine rises in value.
+ The NFT shows snow in December.
+ NFT grows old with you.
+ Every hour, week, month, and year, NFT varies.
+ NFT fluctuates in relation to the current ETH gas price.
+ The NFT varies according on the weather.
+ NFT varies with the sunrise, day, sunset, and night cycles.
+ NFT changes dependent on biometric data such as step count, heart rate, and so on.
+ The NFT in your wallet changes dependent on the other NFTs in your wallet.
+ NFT fluctuates in response to ETH/BTC/stock values.
+ The owner/social artist's media activity influences NFT.
+ NFT varies based on the length of ownership.
+ NFTs vary dependent on the collection's floor pricing.
+ The number of unique owners of an NFT affects its collection.
There are currently few possibilities for developing bespoke NFTs. Cryptographic blockchain technology developers are hard to come by.
How do you make dynamic NFTs?
There are several platforms that provide solutions. For starters, async.art is without a doubt the greatest.
So far, Async can be used to generate a few dynamic NFTs. It may also be used to generate NFT collections without requiring any programming knowledge.
Async also offers as a marketplace for dynamic NFTs. Mined and sold on the async.market are some of my NFTs. I also purchased NFTs from other NFT artists as a collector.
Other platforms that can provide dynamic NFTs:
I'm testing and studying new platforms, and I'll be adding more soon.
My NFT business ideas
My initial business concept was straightforward: Sell NFT artworks and receive payment in cryptocurrencies. After a while I come across more business opportunities.
+ NFT artists: Creating and selling NFTs.
+ NFT Collector
+ Creating virtual assets for the metaverse, games and virtual real estate.
+ Build a defi exchange platform which is easy to use.
+ NFT asset fund: Sell and buy nfts for a fund.
+ Authenticator of NFTs: Determines if an NFT is an original and confirms its validity and value.
+ NFT Workshops: Introducing people to non fungible tokens.
+ Renting virtual space: For tenants and landlords of virtual real estate.
+ UX designer for blockchain companies: NFT strategies, NFT mechanic design, ...
+ Opportunities to offset energy use in blockchain transactions.
+ Play-to-earn: Players earn cryptocurrency by playing the game.
...
+ NFT Collector
+ Creating virtual assets for the metaverse, games and virtual real estate.
+ Build a defi exchange platform which is easy to use.
+ NFT asset fund: Sell and buy nfts for a fund.
+ Authenticator of NFTs: Determines if an NFT is an original and confirms its validity and value.
+ NFT Workshops: Introducing people to non fungible tokens.
+ Renting virtual space: For tenants and landlords of virtual real estate.
+ UX designer for blockchain companies: NFT strategies, NFT mechanic design, ...
+ Opportunities to offset energy use in blockchain transactions.
+ Play-to-earn: Players earn cryptocurrency by playing the game.
...
There are many new opportunities.
The viewpoint of a UX designer on non-fungible tokens
As a UX designer, I enjoy thinking in terms of concepts. Here are several examples:
+ How might cryptocurrency payment be improved?
+ How does a cryptocurrency exchange's user experience compare?
+ How can we encourage more people to utilize cryptocurrencies?
+ How can companies be encouraged to accept cryptocurrency payments?
+ How do you describe the concept of a cryptocurrency wallet?
+ Is a bitcoin ATM a viable strategy for bringing crypto to the masses?
+ How do you explain blockchain technology to the elderly?
+ What new goods and services are needed?
+ Will crypto eventually supplant traditional money?
+ How important are decentralized exchanges to users?
+ How can crypto trading be improved?
+ What does the fine art market seek?
+ How should a digital transaction be displayed?
+ How can you include NFTs into a game?
+ How do you create a website system for trading NFTs?
+ How can you patent an idea using an NFT?
+ How can the authenticity of an NFT be established?
+ How does a cryptocurrency exchange's user experience compare?
+ How can we encourage more people to utilize cryptocurrencies?
+ How can companies be encouraged to accept cryptocurrency payments?
+ How do you describe the concept of a cryptocurrency wallet?
+ Is a bitcoin ATM a viable strategy for bringing crypto to the masses?
+ How do you explain blockchain technology to the elderly?
+ What new goods and services are needed?
+ Will crypto eventually supplant traditional money?
+ How important are decentralized exchanges to users?
+ How can crypto trading be improved?
+ What does the fine art market seek?
+ How should a digital transaction be displayed?
+ How can you include NFTs into a game?
+ How do you create a website system for trading NFTs?
+ How can you patent an idea using an NFT?
+ How can the authenticity of an NFT be established?
Bringing the real and digital worlds together
It is even possible to mix digital art with physical assets such as a bag. STEKKEL is now working on including a display in the bag to show NFTs. They believe there is a market for bringing digital tokens into the real world.
You may wish to share your digital tokens from time to time if you hold them.
A bag can be used in a variety of situations.
+ When and how is the screen turned on and off?
+ How do I move to the next NFT?
+ Can you show numerous NFTs at once, like in a slide presentation?
+ How is the display powered up?
+ Does the NFT respond to bag movement?
+ When and how is the screen turned on and off?
+ How do I move to the next NFT?
+ Can you show numerous NFTs at once, like in a slide presentation?
+ How is the display powered up?
+ Does the NFT respond to bag movement?
This raises further questions for me. How should I present my NFTs? Is it enough for me on the desktop or on the Apple Watch? Or should I get a digital frame to display my NFTs? These are also important considerations for digital artists.
Where to buy and sell NFTs?
Collectors can find a variety of NFT marketplaces. You may easily spend millions of dollars on a digital asset. Some non fungible tokens are heavily overpriced. That is part of the market's appeal.
Green plants grow on a blockchain block.
The Ethereum Blockchain Merge
It is finally happening in the year 2022. The proof-of-work mechanism consumes a significant amount of energy.
The Ethereum blockchain merger could lower energy costs and enable more sophisticated use cases. I pay between $1 and $10 for each transaction. This might be lowered in the future. Then I could start thinking about real-world Ethereum blockchain use cases. Connecting the physical and digital worlds.
Podcast about NFTs
NFT apps for trading
ninjalerts.com: Track wallets of projects, collectors and get notified.
traitsniper.com: Helps you finding rare NFTs inside a collection and more amazing features for NFT trading.
traitsniper.com: Helps you finding rare NFTs inside a collection and more amazing features for NFT trading.
An expanding collection of non fungible tokens
This is a growing collection of NFT ideas and concepts.
Please reach out and share your opinions and ideas.
Please reach out and share your opinions and ideas.
A tree grows in a segment of the blockchain.