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Most NFTs are addresses that point to an image stored on a server somewhere (AWS, etc). This removes the "permament, decentralized" version of NFTs. If the imag
by dreadlordbone 5y ago
Most NFTs are addresses that point to an image stored on a server somewhere (AWS, etc). This removes the "permament, decentralized" version of NFTs. If the image itself is stored on the block chain this means it is fully decentralized and not at risk.
- dcposch 5y agoThe hilarity will become apparent once an NFT project's servers go down. I predict that within the next 5 years we'll see certain art NFTs that once sold for six figures turn into a 404. (This could happen en masse if one of the big NFT exchange startups doesn't make it.) I also predict there will be at least a few cases where nobody actually has the original saved. Imagine the IPFS link has zero seeds including the owner, the startup that once hosted it/ might've had backups is dead, and the original artist lost her laptop. And we might never hear about it, because this situation is acutely embarrassing for everyone involved, especially the person who paid $200k for that jpg.