Also felt it was a scary world till I had the opportunity to read up a bit. The cryptospace is wild, and web3 is a wild west, but some parts make sense, and th

Also felt it was a scary world till I had the opportunity to read up a bit. The cryptospace is wild, and web3 is a wild west, but some parts make sense, and they’re a bit awesome! > Host it on what? Pair it with ETH? Like...the cryptocurrency? How does that work? How does that make money? You host it in IPFS, which is basically just a bunch of running nodes that store files using a hashing system that results in these identifiers (CID) per file. This CID always reflects the same file, no matter if you store it or I store it or we both store parts of it. Let’s say I upload my video file, and then send it to you on IPFS so now we both host it. Then, I decide to NFT it. So I register a contract on the Ethereum blockchain (for which I have to pay in Ethereum, the currency) that points to this CID. At this point, this particular video, its hash on the IPFS and the ETH blockchain entry under my wallet, give me a distributed right of ownership for those that choose to respect it. As per how it makes money, I have no idea, it all feels like a giant scam to me. The money aspect is a more cryptobro oriented question than a technical one.