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.
NFT as of known currently as some random picture that may or maynot have any value assigned to them and their price determined by the demand and supply won't last long. I don't even see much of its use as game assets or game freely traded game accessories. But they might exist on more business centric operation like proof of origin or supply chain involved. Non-fungible tokens could have a variety of uses as planned and demonstrated by many projects. Or something better we still are not aware of.