To add more functionality to the NFT smart contract such as Time limit

Is there a way to add time limit to an NFT that is already minted. Let's take an example. A user will give access/ transfer the NFT to a different wallet but the receiver address has access to the NFT content to a certain period of time and the NFT is retrieved back to the minter address/ removing the access to the NFT.

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Yes but you need to call the smartcontract to transfer back the nft actually.
You have new eip on discussion to do this

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