I am launching a collection of NFTs with an ERC-721 standard with hopes to turn it into a game at a later stage. If i were to limit the attributes/ Properties of the individual token initially to a set number, can I update it later to include more properties?

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Yes, you can update it. Metadata information is not on the chain. The tokenUri is a link and if you forward it to your API and connect to your DB, you can update it later.

Although, this is not recommended since you can change the metadata of tokens anytime (not very trustworthy for users). If there is not so much data that you need to keep, you can store it on the chain otherwise you can leverage IPFS to store the metadata information.

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