"Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met."
Here's an example with education:
Let's say you start a course.
You receive an NFT.
Every time you progress, your NFT evolves and indicates your new level in the course.
By the end, you have a completed NFT - a certificate.
Here's another on passports:
Instead of a passport, you receive an NFT.
The NFT imports your personal credentials from the real world.
Every time you travel, the NFT is updated with the countries.
No need for stamps. No more losing your passport.
There are so many opportunities with this technology.
More examples at the end of this article 👇
The company at the forefront of Dynamic NFTs
Ether Cards got popular recently with their Dynamic NFTs.
They partnered with basketball player LaMelo Ball to create a Dynamic NFT for him.
7 Dynamic NFT Opportunities:
Gaming: Get an in-game item that evolves as you reach milestones in the game.
Passports/Identity: Verify personal credentials and manage your own information.
Certification / Education: As you progress through your course, your NFT will change to reflect your level.
Drive Business (Discounts/Points/Monetization): Use Dynamic NFTs with credits that are "redeemable". The NFT changes depending on how much is used. Dynamic NFTs with redeemable perks can also be sold.
Tickets/Access: Dynamic NFTs that become "used up" once you access something with it. Maybe concerts?
Valuation (property, stocks, equity): Get a Dynamic NFT for your investments. It can evolve as the valuations change. Startups can also raise money with NFTs (if successful, NFTs can even hold value like equity).
Supply Chain: Dynamic NFTs can be used to track physical assets in a supply chain. This helps quality control and counterfeit reduction.