Can NFTs last forever?

[Yogee]

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.

There are projects that still stores data for their NFTs on-chain or at least that's what they claim. Autoglpyhs is one of them if you plan on checking https://www.larvalabs.com/autoglyphs

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?

Decentralized hosting and storage is probably the best solution at the moment as others have already mentioned IPFS and Arweave.
That could be an inconvenience but the buyer has to make effort to secure his digital property if he really treats it as a valuable investment.

[TravelMug]

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.

Obviously it is some fad that we have seen before, or the hype, ICO->IEO-> etc, I think everyone got the point.

And so when someone was also to create NFT and then investors (if you can call them that way), suddenly jump into it, then it become the buzz of the altcoin market and now it even spill to bitcoin network now with this ordinals and brc-20 token that is clogging the network.

So there is no point of investing in NFT and for me, sooner or later it will be replaced by something new again and the cycle continues for this market.

[Wexnident]

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.

Funny how in that case it's kind of safer just to save images that you commissioned in your pc instead. Either way I'd say they're still kind of worth-ish, especially if you plan to resell them just as quick. Storage servers wouldn't just die like that all of a sudden, so I reckon said services would probably give some leeway and be able to transfer it to an existing one.

On the assumption that said leeway never happens, I'd still say it's worth it since comparatively speaking, there's much more in terms of risk in handling an artwork physically compared to nfts. On digital, I'd say it depends on how you handle data yourself. This is if it's just in terms of storage, since afaik nfts (or at least the og idea) had some form of returns to the og artists whenever said nft was resold.

[Luffygroove]

Hmm, you make a good point about NFTs and how they might not last forever if they're stored on centralized servers. Yeah, so like, NFTs are stored on the blockchain and stuff, but the actual pics and vids are usually on regular servers. That could be a problem if those servers crash or the content disappears.

But I think, the NFT scene is changing and folks are working on fixing that problem. So, there's this cool thing called IPFS (InterPlanetary File System) that lets you store and share NFT content in a decentralized way. When you use decentralized storage, your stuff is way tougher and less likely to get messed up by one thing going wrong. Also, some projects (like for example Arweave, Filecoin, Storj and Sia) are checking out on-chain storage options where the whole thing is stored right on the blockchain. So basically, this way the content stays put and can't be changed in the decentralized network. Let's see what further development that they can bring in the future.

[podluznyj]

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.

I think that today it is worth investing in NFT, since this is a very promising income at this stage in the crypto industry, then there is a risk of losing NFT when servers crash, of course, and not without it, since in any investment there is a point of no return and loss of funds invested by you , so that each person should think for himself what he is going for

[Kelvinid]

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.

Well, I don't know what makes people think that NFT is valuable because not even see it as worth buying. NFT projects have no future, hope I was wrong but as I see it, they got a name because of some influencers, not because of their market potential.
Though I take advantage of the situation during the hypes but never I think I have to hold them as I sell them while it was still tradable because now, nobody is about to buy them - they are just as sort of collections.

[gurunanakji777]

The lifespan of NFTs relies on multiple aspects, such as how famous the material they depict is, how much people want it, and the accessibility of the blockchain technology that supports it. Similar to other investments, NFTs come with risks, and it's important to carefully research and be careful when investing in them. Moreover, the value of NFTs may vary with market fluctuations, making it challenging to ensure their long-term worth or lastingness and we all know technology changes from time to time so we have to keep this also in mind.

[nutildah]

IPFS, Sia, and Storj would be the only solutions to help preserve the content of NFTs "forever".

In addition to Arweave, which is my go-to blockchain storage solution, it appears as if you've missed out on the whole "ordinals" thing which started on Bitcoin and has also moved to Litecoin. Image (or other) data can be uploaded into the witness space of a transaction (known as an "inscription") and assigned to an individual satoshi (known as an "ordinal"). The ordinals can then be transferred around from wallet to wallet, granted you know how to practice coin control.

Some Ethereum NFT image data is indeed stored on that chain, I don't know a whole lot about it.

Additionally you have the Stamps protocol which is much more limited in size but allow for image uploading to Bitcoin and Dogecoin.

On-chain data seems like it would solve the problems caused by a centralized hosting service but its still a sticky wicket. Lots of things to consider still about their permanence.

[o48o]

IPFS, Sia, and Storj would be the only solutions to help preserve the content of NFTs "forever". Most developers/NFT creators are often focused on making money with NFTs, so this would be the least priority for them. I see NFTs as something temporary that are only meant to "test" the Blockchain's capabilities.

Yeah, it's interesting to see if those are going anywhere. I don't think that people are buying the idea of forever when they are buying nft:s, i think that they are buying an experience and feeling of owning. And naturally an ability to sell it forward.

The next big thing would be Soulbound Tokens (SBT) which are merits, karma, and certifications/diplomas earned by a person stored completely on the Blockchain. Another trend that will take off would be the digitalization of real world assets. Everything from Gold to Diamonds and Real Estate would be "tokenized" on the Blockchain.
These will eventually replace NFTs as the next big thing in crypto. But if their content will be stored on centralized servers too, then we'll be getting nowhere. The future is widely unpredictable, so we can only hope for the best. Just my thoughts

Yep, but tokenizing gold and securities so that they would be real and not just just synthetic assets requires ton of new innovations that don't have a working blockchain yet. Like layer 1 ZK smart contracts with build in kyc and reversable transactions on tokens by issuer for starters. Because AML laws requires that you can't issue real stocks without ability to reverse the transactions, and big players need total confidentiality to prevent front running that's happening eth all the time. I don't even know all the requirements.

Decentralization and automation could save incredebly amount of money but even when such a system is ready, there will more issues, like is the native token (or "coin") that's an incentive to keep the network secure going to stay legal. And if not, how can the network be decentralized and secure enough for the multi billion dollar industry?

But i remain confident that this kind of system, tgat's needed to work with regulations, will happen and is only matter of time. And future of cryptocurrencies is going to be somekind of hybrid of centralization and decentralization.

[raidarksword]

NFT will have it's timeframe in the space but we don't know when it is. The hype is still there but the trend will not always be there and that's how crypto market works and cycle of the market as a a whole. There are always be a new trend like the MEME trend we are experiencing right now but MEME seasons will also end that's why hype is always temporary.

[yazher]

They can last for a very, very long time. Nobody can promise you that they’ll be worth anything other than dust in decades to come though. In my opinion they are just a passing phase, a bit of a fad. I don’t think they will return to highs we saw in the last bull run. That was mostly wash trading imo. So yeah, they can last for a long tike but will people be paying big money for monkey JPEGS in 2060? I am not so sure.

We have seen the emergence of AI technologies nowadays and quickly becoming the hype right now, that's too long to calculate probably it will gonna be a ton of new things will appear and no one will be interested anymore in the images of monkeys with hats and they might gonna sold for almost nothing when that happens because as we can see right now, it's just merely a picture or a short video. nothing else right there and you cannot monopolize it because you can easily counterfeit it with free software on the internet which can give you your own copy.

[Questat]

They can last for a very, very long time. Nobody can promise you that they’ll be worth anything other than dust in decades to come though. In my opinion they are just a passing phase, a bit of a fad. I don’t think they will return to highs we saw in the last bull run. That was mostly wash trading imo. So yeah, they can last for a long tike but will people be paying big money for monkey JPEGS in 2060? I am not so sure.

We have seen the emergence of AI technologies nowadays and quickly becoming the hype right now, that's too long to calculate probably it will gonna be a ton of new things will appear and no one will be interested anymore in the images of monkeys with hats and they might gonna sold for almost nothing when that happens because as we can see right now, it's just merely a picture or a short video. nothing else right there and you cannot monopolize it because you can easily counterfeit it with free software on the internet which can give you your own copy.

NFT projects are easily forgotten. After the hyped, there gone and nobody went to the market and buy them. After all, those who invest in this project last year will never gain any cents but just a souvenir from the hype that actually gain the attention of the community. In the coming years, no projects will come out and make another name in the market making previous projects will no longer recognized. In fact, we can make those things easily on the internet and make a copy of it but still wondering why during the hyped time some people got crazy about this.

[abel1337]

They can last for a very, very long time. Nobody can promise you that they’ll be worth anything other than dust in decades to come though. In my opinion they are just a passing phase, a bit of a fad. I don’t think they will return to highs we saw in the last bull run. That was mostly wash trading imo. So yeah, they can last for a long tike but will people be paying big money for monkey JPEGS in 2060? I am not so sure.

We have seen the emergence of AI technologies nowadays and quickly becoming the hype right now, that's too long to calculate probably it will gonna be a ton of new things will appear and no one will be interested anymore in the images of monkeys with hats and they might gonna sold for almost nothing when that happens because as we can see right now, it's just merely a picture or a short video. nothing else right there and you cannot monopolize it because you can easily counterfeit it with free software on the internet which can give you your own copy.

Yep trend changes and NFT arts is somehow left behind with the current trend. The explanation you did about NFT just being a picture or a short video that will make people bored and let go of it with nearly zero value is I think wrong. You can treat it as a piece of art that everyone wants like a monaliza painting. Time will tell on how much people will value these NFT's especially those who is collectables such as apes and punks. Though I don't think it will fall to nearly zero as people find it to have a value even on the next generation of crypto.

[fzkto]

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.

Well, I don't know what makes people think that NFT is valuable because not even see it as worth buying. NFT projects have no future, hope I was wrong but as I see it, they got a name because of some influencers, not because of their market potential.
Though I take advantage of the situation during the hypes but never I think I have to hold them as I sell them while it was still tradable because now, nobody is about to buy them - they are just as sort of collections.

NFT is just hype. All these picture collections won't be worth anything over time. There are already plenty of stories of people spending hundreds of thousands of dollars a few years ago and now having no more than a hundred dollars. So NFT is just speculation. The same story is happening now with meme coins. Someone will just lose money. But it will be something to remember.

[o48o]

NFT is just hype. All these picture collections won't be worth anything over time. There are already plenty of stories of people spending hundreds of thousands of dollars a few years ago and now having no more than a hundred dollars. So NFT is just speculation. The same story is happening now with meme coins. Someone will just lose money. But it will be something to remember.

There are countless of stories people buying altcoins and losing money, so are those also worth nothing over time? Everything in this space is speculation so that's not really an argument against nfts, it's an argument against all cryptocurrencies. It has been speculation from the start. No matter the marketcap or the meme lines people draw over the charts as TA. Everything can come down and burn. Just look at the top marketcap coins history

[MIner1448]

You are correct that NFT-related content is usually stored on centralized servers, which can result in data loss if the hosting service fails or closes. However, there are several approaches that can help keep NFTs forever.
The first approach is to store content directly on the blockchain. This solution has its advantages and disadvantages. On the one hand, storing content in the blockchain guarantees its safety forever, since the blockchain does not have a single point of failure and the content is stored in a distributed network of nodes. However, this can lead to scaling issues and require significant resources to store large amounts of data.
The second approach is the use of decentralized data stores such as IPFS (InterPlanetary File System). IPFS allows content to be distributed across a network of nodes and ensures data integrity through an integrity check mechanism. This solution is also not ideal, as it depends on users continuing to store IPFS files for a long time.

[Furious 7]

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

It's difficult when talking about NFTs because basically it just goes back to the collection and nothing more.
They're just hype that can't be done with anything anymore and when their hype ends it's clear things like that are useless unless you really are happy with the collection you have because in the end it's just an image that is seen

Current conditions I even doubt they will have the same hype in the future because as we all know about a hype system like this in the end this is just like any other hype hype that will be left behind when they have finished making a profit.

[FanEagle]

Not really the issue with NFT's. I mean if you are buying an ape image for thousands of dollars, I am sure that the centralized part of the image itself is not the thing you should be really worried about. Even one sale of that is enough to cover the server costs beyond your life span, it shouldn't really be a problem and you could even do backup plans as well, these companies made so much money from people buying silly NFT's that I can't believe this would even ever be a priority for them.

The real trouble is that NFT as a logic is great but how it is used is beyond bonkers, nobody should use it the way it is used right now and we should try to avoid something like this and not invest into any NFT just because it looked cute or cool or whatever, it needs to have a utility.

[Abiky]

In addition to Arweave, which is my go-to blockchain storage solution, it appears as if you've missed out on the whole "ordinals" thing which started on Bitcoin and has also moved to Litecoin. Image (or other) data can be uploaded into the witness space of a transaction (known as an "inscription") and assigned to an individual satoshi (known as an "ordinal"). The ordinals can then be transferred around from wallet to wallet, granted you know how to practice coin control.

Some Ethereum NFT image data is indeed stored on that chain, I don't know a whole lot about it.

Additionally you have the Stamps protocol which is much more limited in size but allow for image uploading to Bitcoin and Dogecoin.

On-chain data seems like it would solve the problems caused by a centralized hosting service but its still a sticky wicket. Lots of things to consider still about their permanence.

Indeed. Ordinals NFTs are completely stored on the BTC blockchain for long-term data preservation. But the biggest downside is that it causes network fees to rise like crazy. Developers should always aim for off-chain scaling solutions or even sidechains if they're really serious about making NFTs last forever without bloating the Blockchain. I see NFTs as a passing trend meant to test the Blockchain's capabilities to its fullest.

What will actually become useful are tokenized assets and Soulbound Tokens (SBT). Just wait until the next bull market for these new trends to take over the crypto world by storm. The NFT hype is slowly fading away, so it should only be a matter of time before they become history. Just my thoughts

[timoshani]

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.

The storage algorithm may be revised. After all, the NFT code is unique and it is assigned to each unique token. For me, of course, such information causes some shock. What about the differences between erc1155 and erc715?