Non-Fungible Tokens (NFTs) became successful because they can generate digital scarcity on the internet. Verifiable, unbreakable scarcity. It is very important to keep this in mind when considering use cases for dynamic NFTs.
NFTs and their dynamic counterparts make a lot of sense when they provide a utility or access to a limited resource. NFTs don’t have as clear of a use case in relation to events with unlimited resources (i.e., tickets for an online event where the audience can attend in unlimited numbers).
However, by limiting the audience’s size, i.e., a “VIP membership” capped at 100 people, a basic but powerful use case is created. But where NFTs truly shine is when access to a provably scarce resource can be provided to only those eligible. For example, they only let a specific NFT owner ask a question (and receive an answer) directly to a band member. In other words, making NFTs “dynamic” will add the most value in the context of ownership. The best use cases start with “as long as I own this NFT, I can [...]”.
In order to bring about the unlimited potential of dynamic NFTs, we are working intimately with Chainlink as the go-to oracle solution for Ether Cards. We have already begun integrating Chainlink VRF as a means of providing developers with access to verifiable randomness on-chain. However, Chainlink provides substantially more off-chain data and computation possibilities for Ether Cards.
Chainlink is a highly generalized decentralized oracle solution that allows developers to write to and read data from any external API and blockchain network, as well as perform various types of off-chain computation. This allows NFTs to be connected to the external world to trigger real-world events, be triggered by external data and computational outputs, and enable the creation of tokenized commodities.
Below, we present numerous use cases that developers can begin to explore on Eth...