Yes, NFTs can support dynamic content and on-chain upgrade functionality. Dynamic NFTs can be programmed to change based on external data or conditions, using smart contracts to update metadata or visuals stored on-chain or via IPFS. For example, an NFT could reflect real-time game stats or evolving artwork. On-chain upgrades are enabled through smart contracts with mutable logic, allowing creators to modify attributes or add features post-minting, provided the contract permits such changes. This requires careful design to balance flexibility with immutability, ensuring trust. Upgrades can be governed by decentralized mechanisms like DAOs to align with community consensus. However, dynamic features and upgrades increase complexity and gas costs, and off-chain data reliance may pose centralization risks. Properly implemented, these capabilities enhance NFT utility and engagement.