Can NFTs last forever?

[JahriMeayer]

Buying NFTs won't be worthy for long. I even found no point to buy NFTs with large amount of money. It just able to create hype because of new trend but demand will be decreased dramatically when hype will over. I still don't understand the concept of buying useless NFTs with millions. Proving ownership is good idea but not satisfactory reason for NFTs could last long. Who already bought NFTs, i doubt they could ever recover their money

[disconnectme]

NFT is here to stay, I would argue that we have not even scratched its surface, this digital age is going to bring about a lot of changes and we have seen it with art and in-game merchandise, what we called NFTs today would be primitive as compared to what we are going to have in 5 years time, a lot of money has been thrown into this sector and I expect a better result in coming NFT waves. Just look at Pepe, I saw this in 2017 now is making a comeback, the issue I have with NFTs is that it is illiquid if liquidity increases then we are set for another big run

[o48o]

To me NFTs are the shit that has littered the blockchain network. I mean what is the essential thing that we have got from NFTs? Apart from the bits and pieces of images, we also don't know what their function is. There may be some good NFTs like Apes but behind that there are thousands if not hundreds of thousands of NFTs that have become trash on blockchain networks like Ethereum and Polygon.

Are you saying that using the network for something is "littering" it? I am astonished that people see that as littering. Like hundreds of thousands of fungible tokens and bots buying and selling them wouldn't be littering.

Thing is, if a blockchain can be "littered" by something, then maybe the problem is in the blockchain and not people using it. The whole point of it is that ANYONE can use it. If they didn't do the math on people actually using it and flooding it, then the problem is in the platform design itself. Not on the people "using it wrong"

And we totally see what function nfts have and is and it's a multi billion dollar market so i am not sure what you are trying to say.

[Mehedi72]

After start NFT hype, still people creating bullshit art and selling at largest web3 marketplace known as OpenSea. I wonder some people also brought such useless NFT but I think That isn’t the real side of NFT.... I think NFT need for future and It'll stay for identify the real Owners from duplicate copy made by scammers. System might be updated by using IPFS, Sia or other method.  so nothing will be vanished instant

[poodle63]

After start NFT hype, still people creating bullshit art and selling at largest web3 marketplace known as OpenSea. I wonder some people also brought such useless NFT but I think That isn’t the real side of NFT.... I think NFT need for future and It'll stay for identify the real Owners from duplicate copy made by scammers. System might be updated by using IPFS, Sia or other method.  so nothing will be vanished instant

People thought that if that NFT gonna giving huge money for them. There have been many people who were putting their believe into the what they have bought in opensea. NFT can last forever but it doesn't mean if any NFT will always still remain active.
Many NFts will be dead with the goes of time due to the no interest from people to buy it. IPFS has become a common thing for NFT

[Crypto-Ivan]

The permanence of an NFT may depend on the existence and stability of the blockchain network it relies on. If NFT is built on a stable, secure and permanent blockchain network, it will last longer.

[KingsDen]

It all depends your definition of forever.
If forever really means in the next 50yrs, NFT can last forever because it is a digital idea.
Even if all of it is not hosted on the blockchain, all the hosts will not end one day. So there will be continuity.
But if your definition of forever really means till eternity. I'm sorry to say; Nothing lasts forever

[Xal0lex]

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.

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.

[TimeTeller]

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.

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.
Remember, it is a hype for now and its future is face with uncertainty. So it is your own prerogative if you want to own one or not.
If you have the capability to buy an expensive artwork, I would prefer the physical artwork rather than the digital one.
That for sure, you can own in your lifetime as you have the full control on how you will handle and secure it.

[Sidra101]

NFTs (Non-Fungible Tokens) cannot last forever in their current digital form. The main reasons for this are; 'i' Dependence on the blockchain 'ii' Storage and hosting 'iii' Technological advancements. It's important to note that efforts are being made to address these challenges and find solutions for long-term preservation of NFTs.
presently; NFTs don't have a guarantee of lasting forever in their current digital state.

[Abiky]

Are you saying that using the network for something is "littering" it? I am astonished that people see that as littering. Like hundreds of thousands of fungible tokens and bots buying and selling them wouldn't be littering.

Thing is, if a blockchain can be "littered" by something, then maybe the problem is in the blockchain and not people using it. The whole point of it is that ANYONE can use it. If they didn't do the math on people actually using it and flooding it, then the problem is in the platform design itself. Not on the people "using it wrong"

And we totally see what function nfts have and is and it's a multi billion dollar market so i am not sure what you are trying to say.

Blockchains are designed to accept anything they're thrown at them, as long as the user is willing to pay a fee. The more transactions submitted at the same time, the higher the network fees will be. "Littering" would be an issue if the Blockchain didn't had any fees. That would give the spammer ample room to do whatever he wants without being penalized in the long run. Blocking NFTs on the Blockchain, would bring us back to the era of censorship.

We should encourage openess and decentralization to make crypto different from banks. I don't think NFTs are a passing trend, especially when there are some of them that are actually useful and/or valuable. If NFT creators host them on decentralized CDNs, they could last a lifetime. Who knows if maybe Arweave and IPFS are used to preserve NFT data in the future? Just my thoughts

[yhiaali3]

Even if media data is lost, the history of NFT properties, ownership and expenditures on the blockchain provides a history and reputation that cannot be deleted from the blockchain and is still valuable.

Also I believe most of the NFT is stored on backup servers so it can be re-attached to the media data on new servers, which restores the full value of the NFT.

[flying_bit]

I think they will last for a long time as long as they evolve with time.

Ofcourse, I don't think any people will buy the same monkey artwork since many well known/legit artists now are interested in NFTs because they provide a new way to monetize and protect their digital artwork.

NFTs allow artists to prove ownership and authenticity of their work, and the unique nature of each NFT means that they can be sold as one-of-a-kind digital collectibles, which can potentially generate significant income for the artist. Also, NFTs give artists greater control over their work, allowing them to set the terms of the sale and retain ownership and control over their intellectual property. Overall, NFTs offer a new way for artists to earn revenue and gain recognition for their digital creations.

if we want blockchain technology to be accepted by people, then we should be happy with this. It's a win for all of us believer of blockchain.

[timoshani]

Buying NFTs won't be worthy for long. I even found no point to buy NFTs with large amount of money. It just able to create hype because of new trend but demand will be decreased dramatically when hype will over. I still don't understand the concept of buying useless NFTs with millions. Proving ownership is good idea but not satisfactory reason for NFTs could last long. Who already bought NFTs, i doubt they could ever recover their money

The idea of ​ ​ NFT is not quite yet promoted and is not particularly clear to many. Therefore, it is logical that many people buy or receive NFT, and almost immediately sell. It seems to me that NFT is an ordinary postmark that is needed today, and tomorrow it is useless.

[bittick]

The permanence of an NFT may depend on the existence and stability of the blockchain network it relies on. If NFT is built on a stable, secure and permanent blockchain network, it will last longer.

I think blockchain in general are permanent, but it couldn't save the NFT file inside the blockchain it only records metadata, in saving NFT file one need other services, but actually, I don't think many really care about this, i too don't really care about how nft saved, just invest.

[Desmong]

After start NFT hype, still people creating bullshit art and selling at largest web3 marketplace known as OpenSea. I wonder some people also brought such useless NFT but I think That isn’t the real side of NFT.... I think NFT need for future and It'll stay for identify the real Owners from duplicate copy made by scammers. System might be updated by using IPFS, Sia or other method.  so nothing will be vanished instant

Everyone keep saying NFT is hyped and we keep seeing people making money from it. There are persons that don't joke with NFT so we need to look into it and see if people are making money or not than coming out to say that NFT is over hyped and one is not going to make money at all. Those that are making money from NFT are doing that and those that are not are not.

[JeffBrad12]

The idea of ​ ​ NFT is not quite yet promoted and is not particularly clear to many. Therefore, it is logical that many people buy or receive NFT, and almost immediately sell. It seems to me that NFT is an ordinary postmark that is needed today, and tomorrow it is useless.

that's true right now NFT seems like just yet another ordinary short lived investment in general many that are investing in NFT aren't really in need of NFT, sometime the NFT just required like a key for people to claim some airdrops, some project are using NFT nowaday just for the sake of eligibility of an airdrops in which quite fine enough but kinda speaks volume the current condition of NFT that's usually just for temporary use.
the art NFT nowaday also didn't as much attention like before whereas many of them are just outright losing their value.
the NFT investment isn't sustaining, so I doubt that as many have said again, everyone would care about the well being of their NFT most of them just outright toss away their NFT by selling it at low price at the end of the day.

[Victorik]

Firstly, I personally have never invested in NFTs. Because I consider it an unpromising business to buy, as I call them, ordinary pictures. I have a few and they got me as a reward for various types of work. All this, in my opinion, will soon go into oblivion and something new will appear, because technology does not stand still and develops, tomorrow there will be something else

That makes two of us. I thought I was the only one who has never minted an nft despite the hype around it. I just don't fancy it or buy the idea. Not that I am against it though, but it just doesn't appeal to me.

They won't last for ever

[bussybuddy]

(...)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 can understand the problem OP mentioned, as I myself am a user in NFT environment, indeed this is a problem for which there is currently no perfect solution to this problem. However, there are a few improvements and solutions that can help reduce the risk of NFT loss due to centralized server failure. However the way I see the solution from using IPFS, it can be said that using IPFS can help reduce the risk of centralized storage in a single place, using this protocol also allows stores data on multiple servers, which minimizes the risk of data loss.
Although there is no perfect solution yet, using the above solutions can help minimize the possibility of NFT loss. With the development of distributed and decentralized storage technologies, we can expect many new solutions to be developed in the future to help protect and store NFT in a sustainable and secure way than.

[Abiky]

Even if media data is lost, the history of NFT properties, ownership and expenditures on the blockchain provides a history and reputation that cannot be deleted from the blockchain and is still valuable.

Also I believe most of the NFT is stored on backup servers so it can be re-attached to the media data on new servers, which restores the full value of the NFT.

If that is the case, then we should have nothing to worry about. NFT data must be preserved if we want to display or sell our digital collectibles in the future. Crypto/Blockchain tech is all about decentralization, so why not put everything on a decentralized cloud storage solution? The decision lies on NFT creators themselves.

While I don't think the trend will disappear, people will move on to the next big thing in the crypto space with the hopes of getting rich quick. New trends such as Soulbound tokens (SBT) and tokenized assets (Gold, Diamond, Real Estate, etc) will take over the NFT hype for a while. When will that happen is an excellent question. Just don't invest more than what you can't afford to lose, and you'll have nothing to worry about.