All of the NFTs you know and love today, have their data stored their on centralized servers (images, video, etc). What is only stored on the Blockchain is just the properties of the NFT itself. While you're basically the "owner" of the NFT, you could lose technically lose it if the centralized server hosting the content of the NFT goes down.
So, what's the point of investing in NFTs if they can disappear in an instant? Unless all of the content is stored on the Blockchain itself, I don't see how NFTs will be able to last forever. Are there already solutions in the works that I'm not aware of? Please enlighten me on this. Your input will be greatly appreciated. Thank you.
So, what's the point of investing in NFTs if they can disappear in an instant? Unless all of the content is stored on the Blockchain itself, I don't see how NFTs will be able to last forever. Are there already solutions in the works that I'm not aware of? Please enlighten me on this. Your input will be greatly appreciated. Thank you.
Ha ha. Good point, proving once again the absolute impracticality and ineffectiveness of buying NFTs as some form of digital art, and with an exorbitantly high price tag. Investing in NFT is suitable only for speculation, but not for collecting or anything else. Art is eternal, but these chitcoins are fleeting. As the recent situation has shown, NFTs can only effectively destroy entire ecosystems, and they will never be attractive for investment.
Physical art is eternal but when it comes to NFT as Abiky stated, they are stored somewhere, and that is likely in centralized servers.
And these servers don't last forever. And certainly, the owners can't guarantee that they can secure it in eternity.
NFTs is just one facet of today's technology, it can very well disappear in the years to come and replace by a new one.