Blockchain Education: Dynamic NFTs | SafeMoon Gaming | Food for Thought | Reminders
🎓Blockchain Education: Dynamic NFTs
An NFT is a unique digital token that is stored on the blockchain and represents ownership of an item, real or digital. This unique crypto asset is differentiated from others through various data points, including a unique contract address and token ID. This means that no two NFTs are identical, and they aren't interchangeable with one another.
Dynamic NFTs are a type of non-fungible token that can be programmed to respond to external inputs or conditions. Unlike traditional NFTs that represent static digital assets with fixed properties, dynamic NFTs offer a new level of interactivity and functionality, allowing them to change and evolve over time based on real-time market prices, user behavior, and environmental data.
On the other hand, static NFTs are unchangeable after they are created, and their metadata cannot be modified. While static NFTs are common in art projects, games, and collectibles, dynamic NFTs are more suitable for projects that need to update their metadata frequently, such as real-world assets, fantasy sports leagues, and progression-based games.
Some use cases for dynamic NFTs:
Artwork and music
Identity management and authenticity verification
Games and virtual worlds
Tokenization and real-world assets
Characteristics of Dynamic NFTs:
They provide a high degree of interactivity that makes them more engaging and captivating to collectors and audiences.
They are programmable, meaning that creators can specify how the NFT should behave, enabling automation and control. It also enables the creation of new use cases and applications in various industries.
They have a wide range of applications beyond digital art, including gaming, social media, and other services. Their versatility expands the scope of possibilities for developers and creators to innovate and create new immersive experiences for users.
They create new revenue streams for artists. Creators can earn royalties on the ongoing use or interaction with their NFTs, making it an exciting long-term source of income for them.
Sergeenkov, A. “What Are Dynamic NFTs? Understanding the Evolving NFT.” CoinDesk. (23 Mar, 2023) https://www.coindesk.com/learn/what-are-dynamic-nfts-understanding-the-evolving-nft/
Shinina, A. “What are dynamic NFTs?: Use cases and examples.” Cointelegraph. (3 April, 2023) https://cointelegraph.com/explained/what-are-dynamic-nfts-use-cases-and-examples
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💭 Food For Thought
“What good is an idea if it remains an idea? Try. Experiment. Iterate. Fail. Try again. Change the world.
- Simon Sinek
“Make a gift of your life and lift all mankind by being kind, considerate, forgiving, and compassionate at all times, in all place, and in alll conditions, with everyone as well as yourself. This is the greatest gift anyone can give.”
- Davis Hawkins
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- Buddha
Reminders
SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. Let's recap the month of February! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
PoA Article
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon Exchange
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
SafeMoon Blockchain
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
pSFM Migration
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
Migrate your pSafeMoon tokens to SafeMoon V2 tokens
The pSafeMoon Guide now includes an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
Tokenomics Supervisor
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
Token Registration
Token SWaP
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
Check it out by clicking the image below. 👇👇👇
SafeMoon Career Opportunities
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Disclaimer:
Please be advised this is meant to be used for informational and educational purposes only. All information should be used as such and not be treated as financial advice. Before making any financial decisions, it is important to complete your own due diligence. Thank you.