I'd argue with your use of the term 'represent' there because there's nothing about the NFT that actually represents the asset. Here's the IPFS URL stored on-ch

I'd argue with your use of the term 'represent' there because there's nothing about the NFT that actually represents the asset. Here's the IPFS URL stored on-chain for an actual NFT, or actually an IPFS gateway link to the actual IPFS record so you can view it in a browser: https://ipfs.io/ipfs/QmdNvqCbd7qYvtyFJdd3zoJC84cvyCiSxYDfsiYYQZVCec https://ipfs.io/ipfs/QmdNvqCbd7qYvtyFJdd3zoJC84cvyCiSxYDfsiY... This IPFS record gives the Makerspace gateway address for the artwork so you can view the image the NFT supposedly refers to: https://ipfsgateway.makersplace.com/ipfs/QmNopeEan1r728EGpAYZw8fFvCXfuXtnadC3JCeY5mo9LB https://ipfsgateway.makersplace.com/ipfs/QmNopeEan1r728EGpAY... These are all just references, they don't represent the image itself. If Makerspace goes away so does that copy of the image, and the NFT becomes a reference to nothing. The NFT doesn't even include a hash of the image, so Makerspace could replace the image with another one and nobody would be able to tell. What image did you see when you opened the URL? Are you sure it's the same one I saw? How would you know? All you own is some bits on a blockchain containing a URL to someone else's website that has no relationship or obligation to you. A lot of NFTs refer to Cloudfront URLs. Do you think Cloudfront gives a crap about your NFT?