Built on Filecoin and IPFS, NFT.Storage offers free protection for NFT asset data

April 29, 2021 0 Comments

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CryptoNinjas » Built on Filecoin and IPFS, NFT.Storage offers free protection for NFT asset data

NFT.Storage, a service specifically created for storing NFT data and backed by Protocol Labs and Pinat, has announced its launch. NFT.Storage allows developers to store non-fungible token (NFT) data on decentralized networks easily, securely, and for free. With just a few lines of code, anyone can leverage the power of IPFS and Filecoin to ensure the persistence of their NFT data.

“Content addressing and distributed storage networks ensure that digital artwork, basketball cards, and virtual real estate are guaranteed to stay secure and available long-term. NFT.Storage makes it completely frictionless to mint NFTs following best practices through resilient persistence on IPFS and Filecoin.”
 – Mikeal Rogers, Engineering Manager at Protocol Labs

Levering IPFS, NFT.Storage creates digital fingerprints for all new NFTs that universally reference the content regardless of how or where it is stored. Using these fingerprints to reference NFT assets and metadata prevents problems like NFT assets disappearing or getting “rug pulled.”

Filecoin, a decentralized storage network, assists NFT.Storage in protecting NFT assets and metadata with dozens of global storage providers to ensure that the content is publicly accessible without a central point of failure for the long term. Filecoin also provides publicly verifiable proof that content is being stored over time, so anyone can verify the data’s integrity and availability.

NFT.Storage is designed to support NFT apps like Palm, a new NFT protocol being brought to market by Protocol Labs and ConsenSys, which also relies on IPFS and Filecoin for decentralized storage. The Palm network, which will operate on its own environmentally-friendly Ethereum sidechain, saw world-renowned artist Damien Hirst releasing a collection entitled ‘The Currency Project’ as part of the launch.

Also powering the VideoCoin marketplace, Filecoin recently surpassed 4 billion gigabytes in storage capacity, making the network capable of storing over 1.2 billion 1080p high-resolution movie files. VideoCoin integrated with Filecoin to protect the provenance of their videos with NFTs.

CryptoNinjas » Built on Filecoin and IPFS, NFT.Storage offers free protection for NFT asset data

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