You can assign a value to a variable:
{if empty($code)}
{assign var='code' value='404'}
{/if}
but I suppose you need something like:
{if empty($video_data.id)}
No value
{else}
{get_video_meta video_id=$video_data.id key='test'}
{/if}
because it get_video_metais smarty plugin and you cannot use it as you try to use ...
In foreach:
{foreach from=$video_data key=k item=v}
{if empty($k)}
No value
{else}
{get_video_meta video_id=$v.id key=$k}
{/if}
{/foreach}
source
share