Industry seeks solutions for NFT image-hosting disasters

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NFT task enforcement Alex Altgausen said that if NFT projects are trying to disrupt accepted industries, they should research retention technologies disposable successful Web3.

Industry seeks solutions for NFT image-hosting disasters

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Collect this nonfiction arsenic an NFT

The image-hosting facet of nonfungible tokens (NFTs) needs large improvements. First, radical saw NFTs connected FTX breaking aft it declared bankruptcy. More recently, NFTs connected the marketplace Magic Eden showed immoderate questionable images alternatively of their existent thumbnails. 

As the occupation continues to persist, Cointelegraph reached retired to assorted manufacture executives to get their thoughts connected however NFT projects tin lick the NFT hosting issue.

NFT marketplace Magic Eden showing pornographic images. Source: Twitter

From utilizing dependable blockchains to exploring the retention technologies disposable successful the Web3 space, assorted executives moving successful the NFT manufacture gave their thoughts connected however to debar aboriginal problems successful NFT representation hosting. 

Samuel Huber, the CEO of the metaverse level LandVault, noted that the contented with FTX NFTs is that the metadata was hosted utilizing a Web2 API. According to Huber, the champion people of enactment for NFT projects to debar this benignant of occupation is to usage dependable blockchains for the NFTs themselves and store NFTs connected a distributed ledger that is not controlled by a azygous entity.

There is simply a acquisition to beryllium learned present yet collections are inactive hosting metadata connected AWS.

— jac0xb.sol (@jacobdotsol) December 7, 2022

The enforcement besides told Cointelegraph that portion determination are precise fewer projects that presently big the existent images on-chain, making definite that the metadata and files are hosted decently is of paramount importance. He added that: 

“Projects should verify if the platforms are utilizing decentralized hosting providers specified arsenic IPFS and Airweave for the metadata and immoderate different files that are linked to the NFT.”

Alex Altgausen, the CEO of play-to-earn NFT crippled Banksters, besides agreed with the sentiment. The enforcement believes that if NFT projects are genuinely trying to disrupt accepted industries similar gaming, they indispensable research retention technologies that are already disposable wrong the Web3 space.

Altgausen told Cointelegraph that determination are caller technologies that “distribute record retention utilizing aggregate decentralized options.” These let computers worldwide to store and service files successful a peer-to-peer network, and this removes the dependency connected accepted Web2 retention providers similar Amazon Web Services oregon Google Cloud.

Related: Magic Eden to refund users aft fake NFTs sold owed to exploit

On the broadside of users, it whitethorn not beryllium elemental to cheque if this whitethorn hap to the NFTs that they buy. Radek Pléha, the co-founder of NFT summons level BillionAir, told Cointelegraph that users volition person to bash their ain owed diligence and probe the project's retention infrastructure to marque definite that this doesn't hap to their NFTs. “This tin see reviewing the project's whitepaper and checking for immoderate information measures that person been implemented, arsenic good arsenic looking for reviews and feedback,” helium added. Pléha besides said:

“Unfortunately, not each NFTs metadata are stored connected the blockchain, arsenic main chains whitethorn beryllium constricted successful size and much costly for information storage.”

On Aug 5, Jonathan Victor, the Web3 retention pb astatine Protocol Labs and Rarible CEO Alex Salnikov besides discussed however NFTs don’t unrecorded connected the blockchain. Victor highlighted that due to the fact that of size limitations successful main chains, off-chain retention solutions are introduced to NFTs. He besides highlighted the usage of decentralized retention networks for NFT metadata. On the different hand, Salnikov said that NFT transactions are confirmed connected the blockchain, but the NFT metadata is typically stored determination else. 

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