Filecoin launches decentralized storage service for NFTs

Decentralized storage protocol Filecoin has announced a new free service called NFT.Storage that it proposes as a future-proof method of protecting metadata and non-changeable token (NFT) content off-chain. "NFTs are part of humanity's cultural heritage and designing their data for long-term availability is crucial," said Mikeal Rogers, CTO of developer Filecoin Protocol Labs. “Content addressing and distributed storage networks ensure that digital artworks, basketball cards and virtual real estate remain safe and accessible over the long term. Https:// is a brand new service specifically designed to store #NFT data off chain. Data is stored decentrally in @IPFS and # Filecoin – and it's FREE! More info: – Filecoin (@Filecoin) Why is it important to store NFTs on May 3, 2021? NFTs are cryptographically unique tokens that can be used to represent digital content such as artwork and music. Because they are non-interchangeable, inadequate and can be printed one-off or in small batches, a thriving market for NFTs has emerged among collectors at extreme prices. But there is a trick. While NFTs can nominally represent artworks, music or videos, blockchain tokens do not actually include the files themselves – even the names of their authors for that matter. Instead, an NFT is basically a collection of metadata – links to the files they represent to be hosted by third parties, such as auction platforms. Yes, your NFTs can get lost – here's what you need to do with that, so the risk of the multi-million dollar NFT being removed is very high, for example, if the files they represent are no longer available on the internet. if the company providing the file host shuts down. NFTs can even lose the status of a digital certificate of authenticity and ownership if there is nothing provable that links them to an actual media file. Keep files accessible

Join the Discussion

Back to top