The first phase of the NFT era started with projects like CryptoPunks and Bored Ape Yacht Club. What non-fungible tokens provided is the ownership of one-of-a-kind digital assets that are available on a blockchain. The value of these NFTs increases with the passage of time. Non-fungible tokens are not just tokens of ownership. With the help of technology and innovation, they can be upgraded to include improved features. This will give rise to the new era of NFTs – NFT 2.0. In this article, we will tell you all you need to know about NFT 2.0.
NFT 2.0 Features
Upgradability: This feature would allow for the modification of the NFTs through the addition of metadata. The artwork associated with the NFT can also be upgraded.
Interlinking: With this capability, users will be able to link their NFT with other NFTs. The NFT can also be connected with multiple data sets.
Dynamism: With this capability, the non-fungible tokens would be made more powerful. It will allow users to give commands to the NFTs and also make modifications in the NFTs related to it.
What makes NFT 2.0 better?
The afore-mentioned features will help in improving the experience of NFT 2.0 in the following ways –
· While in NFT 1.0, the non-fungible token could be associated with only a single resource, which meant that it appears the same to everyone. With NFT 2.0, however, the token can be linked to different designs. The NFT can be viewed in different ways in different formats.
· NFT 2.0 will allow infinite nesting of NFTs, which means that one NFT would be able to own the other. This cycle can continue on forever. The concept of Nested NFTs will be quite useful in gaming, metaverse, virtual exhibitions, and such things.
· NFT 2.0 will allow for the linking of smart contracts with NFTs.