Industry seeks solutions for NFT image-hosting disasters

The image-hosting aspect of nonfungible tokens requires major improvements. First, people saw NFTs on FTX breakafter it stated personal bankruptcy. More recently, NFTs on the market Magic Eden revealed some questionable images rather of their real thumbnails.

As the problem continues to persist, Pandoraland reached out to various industry executives to get their ideas on how NFT jobs can fix the issue.

From utilizing trustworthy blockchains to exploring the storage innovations available in the Web3 area, numerous executives working in the NFT market gave their thoughts on how to prevent future problems in NFT image hosting.

Samuel Huber, CEO of the metaverse platform LandVault, noted that the concern with FTX NFTs was that the metadata was hosted utilizing a Web2 API. According to Huber, the best strategy to prevent this kind of problem is to use reliable blockchains for the NFTs themselves and keep them on a distributed journal that is not controlled by a single entity.

There is a lesson to be learned here yet collections are still hosting metadata on AWS.

— jac0xb.sol (@jacobdotsol) December 7, 2022

The executive also informed Pandoraland that while really few jobs presently host the real images on-chain, it is of critical value to make sure that the metadata and files are hosted appropriately. He included:

“Projects must confirm if the platforms are utilizing decentralized hosting service providers such as IPFS and Arweave for the metadata and any other files that are connected to the NFT.”

Alex Altgausen, CEO of play-to-earn NFT video game Banksters, likewise concurred with the sentiment. The executive believes that if NFT tasks really want to disrupt traditional industries like gaming, they should check out storage technologies that are currently available within the Web3 space.Altgausen told Pandoraland that there are brand-new technologies that”distribute file storage using numerous decentralized options.”These permit computer systems around the world to store and serve files in a peer-to-peer network, and this gets rid of the dependency on conventional Web2 storage suppliers like Amazon Web Services or Google Cloud.Related: Magic Eden to refund users after fake NFTs sold due to exploit When it pertains to users, it’s not constantly simple to inspect if this might occur to the NFTs

they buy. Radek Pléha, co-founder of NFT ticket platform BillionAir, told Pandoraland that users have to do their own due diligence and research the project’s storage infrastructure.”This can include evaluating the project’s white paper and looking for any security determines that have been carried out, in addition to searching for evaluations and feedback, “he included. Pléha likewise stated:”Unfortunately, not all NFTs’metadata is kept on the blockchain, as main chains may be restricted in size and more costly for information storage.”On Aug. 5, Jonathan Victor, the Web3 storage lead at Protocol Labs, and Rarible CEO Alex Salnikov also went over how NFTs don’t survive on the blockchain. Victor highlighted that off-chain storage services are presented because of size limitations on main chains. He also highlighted the use of decentralized storage networks for NFT metadata. On the other hand, Salnikov said that NFT deals are confirmed on the blockchain but that the metadata is typically kept elsewhere.