An In-depth Insight at Digital Ownership Through Dynamic NFTs

Abstract

As a foundational technology of the information age, blockchain is an important technology pushing society towards using decentralized systems and peer-to-peer interactions. The emergence of non-fungible tokens (NFTs) is a prominent phenomenon of this era, which aims to revolutionize the ownership and trading of certain assets regarding their characteristics, such as being unique, devoted to special collections, and so on. The development of NFTs as a new asset class is accelerating, and they are expected to become an integral part of the human digital life experience. Throughout the paper, we introduce Dynamic Non-Fungible Tokens (dNFTs) as a new type of NFTs, which could be a paradigm-shifting experience for digital asset ownership. We establish a framework to lighten the future of using dynamic NFTs in different areas and a better understanding of the challenges and prospects in the journey of evolving this technology.