Dynamic NFT Generation Utility script
Dynamic NFTs are the next upgrade to the regularly available static NFTs. The main difference between a static NFT and a Dynamic NFT is that dynamic NFTs are based on a hybrid smart contract that receives data related to real world events (a.k.a Off-chain events) and blockchain events (On-chain events). Based on the event data received the NFT changes / displays a special characteristic or effect.
Case 1: In the case of Off chain events, Imagine that there’s a Dynamic NFT of the football player Ronaldo, whenever he hits a goal, the Dynamic NFT’s hybrid smart contract can be programmed to display a dazzling star or a rotating football.
Case 2: ON Chain events, when it comes to a scenario where the price of the NFT collection increases to a new high, the Dynamic NFT can display some trending icon or a flashing dollar symbol when the NFT price increases.
What is the Dynamic NFT Generation Utility Script?
The dynamic NFT generation Utility script allows you to create a platform that enables anyone to mint a randomized NFT based on the parameters set by you. You can easily create a collection of NFTs by allowing people to mint it on their own right from your platform.
You can choose the theme of the NFT and your developer can setup the conditions in the smart contract. When the platform is connected to this Hybrid smart contract, it can mint Dynamic NFTs on the fly after receiving the payment from the user of course.
How does the Dynamic NFT get the data from the on-chain and Off-chain events?
Regular static NFTs are backed by a smart contract that interacts only with their native blockchain and are closed off from other blockchains. Dynamic NFTs are made of hybrid smart contracts that interact with both other Ethereum Virtual Machine based blockchains like Solana, Binance Smart Chain, Polygon, etc. and off chain real world events.
These hybrid smart contracts rely on a network of secure, distributed data providers called Decentralized Oracle Network (DON) (Not to be confused with the Database company, this is different).
The DON service providers are trusted, distributed, verified programs that gather data from various data sources and validate them before sending it to rest of the distributed Oracle Network. Once the data is received, the NFT’s characteristic changes either temporarily or permanently based on the data.
For example, in the case of temporary change like weather, the NFT can display a cloud or sun or rain icon for a short time, whenever the data is received and it returns back to normal.
Example for a Permanent change is when the dynamic NFT is based on the image of a pup that changes every year to a full sized dog and cannot be reverted back to the image of a pup.
How does the Dynamic NFT utility script work?
Step 1: Based on your marketing activity, the user reaches your platform to mint the dynamic NFT.
Step 2: Once they agree to mint the NFT, they will have to pay the price in ETH for proceeding.
Step 3: After the payment is verified, the minting process begins.
Step 4: A randomized dynamic NFT is generated, which receives data from the Decentralized Oracle Network and does the pre-configured action like change of image or display an animation, etc.
Step 5: Dynamic NFTs are safely stored in the NFT supported wallet.
Features of the Dynamic NFT utility script
The script can mint NFTs on the blockchain that is chosen and configured by the administrator. Most of the settings are on the admin panel.
NFT Asset Manager
NFT assets are organized and stored on the server securely. When a user mints, a Dynamic NFT is randomly generated and the entry is registered on the admin panel.
API focused architecture
The Dynamic NFT minting platform script can be easily integrated into your existing product through the use of APIs from the script
Payment Methods are built into the script. Options like Stripe, Paypal, Crypto etc are available to configure and activate.
The script comes with a robust admin panel that allows the admin to monitor the sales, minting frequency, available Dynamic NFTs that are already minted and much more easily.
Hybrid Smart Contract controlled
Smart Contracts are at the heart of the script. Pre-programmed hybrid smart contracts enable minting of dynamic NFTs. When a dynamic NFT is part of a collection, the value of the NFTs collectively increase depending on the marketing activity, utility and popularity
Customizable Minting Portal
Customizable Minting Portal allows you to change the design of the front-end of the portal where the users connect their wallet and pay for the minting. Add your own brand colors logos, etc.