Benefits of Dynamic NFTs
NFTs have already revolutionized the way we think about digital ownership and creativity. But now, a new type of NFT is taking the world by storm: dynamic NFTs. Dynamic NFTs are digital assets that can change over time, so the artwork, music, or other asset associated with the NFT can be updated or modified after it's minted. This innovative technology opens a whole new world of possibility for the way an NFT can be utilized.
In this blog post, we will explore the impact of dynamic NFTs on the NFT landscape, and discuss the benefits of dynamic NFTs for creators and collectors to explore the innovative ways that dynamic NFTs are being used today.
What Are Dynamic NFTs
Imagine having a digital asset that transforms over time, reacting to real-world happenings or interactions from users. Dynamic NFTs bring a whole new level of excitement by changing how they look, their traits, or even behavior to create immersive experiences that seamlessly blends art, technology, and interaction.
This kind of flexibility and adaptability is especially valuable in industries like commerce and luxury, where customer engagement is key. Brands can easily refine tokenized assets or even completely transform their visual appeal, offering a service that caters to evolving demands.
Capabilities of a Dynamic NFT
Update Metadata
Brands are dynamic, and their messaging needs to evolve alongside them. Thanks to Mojito, the power to modify every aspect of an NFT is at your fingertips. Whether it's altering descriptions, attributes, or other particulars, this can now be done effortlessly. The days of being confined to the initial creation are over.
Keep your blockchain assets up-to-date, perfectly aligned with your brand's growth and evolving message. What's remarkable is that you don't need any coding experience to make these updates, ensuring that the process remains accessible and user-friendly for everyone involved.
Changing NFT Art
Visual aesthetics are a driving force behind an NFT's perceived value. The innovation of dynamic NFTs provides brands with the unique capacity to effortlessly modify or revamp the artwork of their tokenized assets.
This capability proves highly advantageous for brands wanting to align NFT visuals with shifting seasons, limited-time collaborations, or a fresh visual identity. This feature is particularly useful for brands that want their NFTs to reflect seasonality, limited-time collaborations, or simply a revamped aesthetic.
How can I get started with these tools?
For Developers: Our Dynamic NFT API offers a potent toolbox for developers familiar with programming. Backed by comprehensive documentation and robust support, seamlessly integrating and managing Dynamic NFTs becomes a breeze.
No Code Users: The age of no-code solutions is here, and Mojito is at its forefront. With intuitive no-code tools, brands can mint and manage Dynamic NFTs with a few clicks. No programming knowledge? No problem. Mojito ensures that the world of NFTs is open to everyone, regardless of their tech proficiency.
Jumpstart your journey with Mojito: In offering unparalleled flexibility in managing blockchain assets, Mojito seeks to give your brand the tools to tweak the specifics of your NFT, give it an entirely new look or do something creative that we haven’t considered.
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Mojito Brought the Toledo Museum of Art’s Debut Web3 Collection to Market with 10,000 NFTs — and Zero Code
Learn how we helped the museum tell an essential cultural story through the power of digital art and community.
Mojito's technology breathes life into dynamic web3 experiences for brands. We simplify the complex backend, allowing the front end to effortlessly focus on the fun stuff – including sticky consumer engagement.
Our recent collaboration with the forward-thinking museum turned this vision into reality. Mojito worked with Toledo's team to orchestrate a digital art experience by Osinachi & Yusuf Lateef. Our community engagement portal enabled Toledo to provide a smooth minting process, hassle-free claims, turnkey community management and reporting for the museum. The result? A powerful drop of 10,000 NFTs.
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The Web3-ification of Credit Card Loyalty Programs
Visa's new web3 loyalty program is no accident.
Swipe (or nowadays, tap) your credit card, and earn points. A process that’s now commonplace has a lengthy history that can teach us more than a few things about customer loyalty — and its journey through technology. Let’s start at the beginning.
From paper to plastic 💳
While the history of credit cards dates back thousands of years, things turned from stone to metal — and later paper and plastic — about halfway through the 20th century with the arrival of the modern credit card in 1950. Reportedly invented following a case of a forgotten wallet, The Diner’s Club Card (initially owned by Discover Financial Services before its acquisition by BMO in 2009) was the first multipurpose charge card credit card intended primarily for dining and travel expenses.
The Diner’s Club was also the first to pair the concept of charging credit with fueling consumer loyalty through the inception of points. Through partnering with dining, entertainment, and later, travel entities (i.e., airlines, rental cars, and hotels), Diners Club cardholders paid a tiered annual fee to gain special perks based on how much money they spent. The greater the yearly fee, the greater the perks.
About eight years following Diner’s Club in 1958, American Express entered the credit card industry with the world’s first international charge card, which initially had an annual fee of $6 (one dollar more than Diner’s Club). Shortly after, Bank of America and Mastercard followed suit. During this initial period, most credit cards focused on offering customers just that — credit — with loyalty and reward yet to take off.
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The 10 brands that won web3 in 2023 🏆
Our fingernails are officially onchain.
2023 was a year of building in web3 — and no shortage of brands got in on the action.
Across luxury fashion, institutions like Prada, Louis Vuitton, and Maison Margiela reimagined the roadmap for retaining customers through captivating yet accessible content that turned buying products into something more: an enduring digital connection. Others, like beauty platform KIKI World, pushed the limits of blockchain — and fingernails — via web3 communities focused on co-creation and customization. Across the sports field, Manchester United, Red Bull Racing, and the Tampa Bay Rays-owned Rowdies, won through fan programs and sticky experiences that incentivized fan engagement and boosted sales. The list goes on.
Below are 10 brands who did it right in 2023 — and, in the process, won web3.
