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The current NFT data storage issues contradict the notion that NFTs are the bringers of true digital asset ownership. These issues include most smart contracts for NFTs only holding a URL that points back to a file on a centralized server.
This problem can be summed up in one line: Most NFTs consist of URLs that point to files living on a centralized data server and if what the URL points to changes so does the file associated with your NFT. Your super special, super rare and highly valuable NFT could look very different if someone just changes where the URL was pointing or one of these centralized data servers gets compromised. So, do you really own your NFTs? Not yet at least.
This is hardly a forgotten issue. However, most participants in the NFT space are caught in the hype and are on the constant search for the next blue-chip, uninterested in the more technical aspects of this space. There are many who do recognize this glaring problem that is guarding the steps to true digital asset ownership. This can be seen by many in the space emphasizing the need to store NFT metadata on IPFS and looking for other decentralized data storage solutions.
Decentralized Data Storage adds a premium to digital assets because it adds a level of censorship resistance. Moreover, decentralizing an asset’s data storage ensures a high level of data integrity. It ensures nobody can tamper with the data because there is an accurate copy always available somewhere. If you don’t put a premium on that already, you will be soon when everyone else is.
Making use of IPFS is a cumbersome task to say the least. Hence, the dominance of centralized data storage providers. This has led to the Decentralised Data Storage landscape being littered with projects that work to provide a user-friendly interface for engaging with IPFS. This takes different forms depending on what spin the project wants to have on its take on decentralized data storage. However, the majority of projects in the Decentralised Data Storage space offer a subscription model. These have yet to reach widespread usage in the NFT space as the narrative and issues surrounding Decentralised Data Storage haven’t percolated into popular discourse yet on Twitter. It is only a matter of time until it does because people will want the full realization of ownership over their NFTs.
However, is a subscription-based model the way to go with decentralized data storage? In a space where gatekeepers are being removed, why would we want our access to decentralized data storage gatekept by a subscription service?
The answer is simple, there isn’t any reason why not. Hence, why a platform like Anspar provides the interface for engaging with decentralized data storage easily and in whatever way you decide. To each their own, anyways…just think a bit more about decentralized data storage and NFTs.
Thanawat (Tommy) Thomas // SabaiSquared
Founded Anspar, a NFT applications marketplace and Three Pillars Gaming, a blockchain-gaming-focused e-sports team.
Partnerships & Community Lead at SO-COL.
The current NFT data storage issues contradict the notion that NFTs are the bringers of true digital asset ownership. These issues include most smart contracts for NFTs only holding a URL that points back to a file on a centralized server.
This problem can be summed up in one line: Most NFTs consist of URLs that point to files living on a centralized data server and if what the URL points to changes so does the file associated with your NFT. Your super special, super rare and highly valuable NFT could look very different if someone just changes where the URL was pointing or one of these centralized data servers gets compromised. So, do you really own your NFTs? Not yet at least.
This is hardly a forgotten issue. However, most participants in the NFT space are caught in the hype and are on the constant search for the next blue-chip, uninterested in the more technical aspects of this space. There are many who do recognize this glaring problem that is guarding the steps to true digital asset ownership. This can be seen by many in the space emphasizing the need to store NFT metadata on IPFS and looking for other decentralized data storage solutions.
Decentralized Data Storage adds a premium to digital assets because it adds a level of censorship resistance. Moreover, decentralizing an asset’s data storage ensures a high level of data integrity. It ensures nobody can tamper with the data because there is an accurate copy always available somewhere. If you don’t put a premium on that already, you will be soon when everyone else is.
Making use of IPFS is a cumbersome task to say the least. Hence, the dominance of centralized data storage providers. This has led to the Decentralised Data Storage landscape being littered with projects that work to provide a user-friendly interface for engaging with IPFS. This takes different forms depending on what spin the project wants to have on its take on decentralized data storage. However, the majority of projects in the Decentralised Data Storage space offer a subscription model. These have yet to reach widespread usage in the NFT space as the narrative and issues surrounding Decentralised Data Storage haven’t percolated into popular discourse yet on Twitter. It is only a matter of time until it does because people will want the full realization of ownership over their NFTs.
However, is a subscription-based model the way to go with decentralized data storage? In a space where gatekeepers are being removed, why would we want our access to decentralized data storage gatekept by a subscription service?
The answer is simple, there isn’t any reason why not. Hence, why a platform like Anspar provides the interface for engaging with decentralized data storage easily and in whatever way you decide. To each their own, anyways…just think a bit more about decentralized data storage and NFTs.
Thanawat (Tommy) Thomas // SabaiSquared
Founded Anspar, a NFT applications marketplace and Three Pillars Gaming, a blockchain-gaming-focused e-sports team.
Partnerships & Community Lead at SO-COL.
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