CandleFocus Hedera News: HIP-850 Empowers NFT Users with Dynamic Functionality for Web3 Use Cases
2024-09-12
Author: Content Editor
Hedera has announced the implementation of HIP-500, an upgrade that allows users to have more dynamic management of NFT data on its blockchain network. The upgrade, which is part of the v0.53 update, aims to empower NFT users and issuers with greater flexibility and control over their tokens without compromising integrity or immutability. HIP-500 enables supply keys to update NFT metadata held in a treasury account, providing a solution for stakeholders who want to evolve NFT functionality while maintaining the core principles of immutability. The upgrade has practical applications in various industries, such as event tickets and gaming. The price of HBAR, the native cryptocurrency of Hedera, has gained 3.85% in the past day, resulting in a market cap of $1.879 billion.
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