NFTs with superpowers like you’ve never seen
NFT 2.0 refers to any NFT that goes beyond what NFT 1.0 can do. All that NFT 1.0 can do is sit on the blockchain and be appreciated by collectors. NFTs can do a lot more than sit on the chain. To see just how much, let’s consider the characteristics of NFT 2.0.
This feature ensures that an NFT can be updated far into the future. The updates can be to the artwork, select metadata, the addition of new resources (will make sense in the abilities section), etc.
This feature equips the NFTs with powers to do more than existing. Now they can issue commands, equip other NFTs, change their look, and a lot more, as determined by the builder or owner.
With the nesting ability, NFTs can own and be owned by other NFTs. Although this concept is ridiculously simple on the surface, you will be blown away by the new possibilities it affords creators art.
NFTs no longer have to be doomed to a singular fate for eternity. Now, NFTs can have different resources to switch between. A resource is simply the image, video, that is the NFT, can have 2 and choose one to display.
Reactive NFTs are made possible by conditional rendering. This means that an NFT changes its resource based on certain criteria being met. An NFT of a landscape alternates between 2 resources.
Fractionalized NFTs or NFT DAO
With this ability, an NFT can be fractionalized into a DAO. Some NFTs are too expensive for one collector to afford, so by using the DAO functionality, many collectors can put their money together.