Quote from: bitgolden on June 03, 2023, 06:15:00 PM

Quote from: Abiky on May 09, 2023, 04:30:19 PM

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.

It's an "idea" that you are buying right now, that's the trouble, we should be using it like a piece of paper. When you buy a house, what do you really buy? I mean they do not give you a house, house stays exactly what it has been before, the house isn't transferred to where you are, you go to it. So what do you really buy?

You buy a piece of paper that say it's yours, and you can show that piece of paper to anyone who questions it to prove that it is indeed your house. Same logic with NFT, it provides proof that it's your NFT and nobody can own it. What this means is that we could end up using NFT for stuff like that and suddenly it will go up in value, it could become an official contract between two parties and it would make a lot of sense for sure.

the idea is
1. do we need that house?
2. should we own that house? oh yeah, but if the house is not interesting to buy what we gonna do about it.
3. oh nooo, the server is down. it's not a house anymore. it's just some code