• The issue of hosting images with nonfungible tokens is in need of major improvements.
• The best way to avoid this type of problem is to use dependable blockchains for the NFTs themselves and store them on a distributed ledger.
• Executives working in the NFT industry suggest exploring storage technologies available in the Web3 space.
The nonfungible token (NFT) industry is in need of solutions for the ongoing issue of image hosting. NFTs are digital assets that are secured and stored on the blockchain, allowing for the ownership and transfer of unique digital items. Recently, projects such as FTX and Magic Eden have experienced issues with their NFTs, resulting in broken images or even questionable images being displayed instead of the intended thumbnails.
In order to avoid further issues with image hosting, Cointelegraph reached out to various industry executives to get their thoughts on how NFT projects can solve the issue. Samuel Huber, CEO of the metaverse platform LandVault, noted that the best course of action to avoid this type of problem is to use dependable blockchains for the NFTs themselves and store them on a distributed ledger that is not controlled by a single entity. He also suggested that while very few projects currently host the actual images on-chain, it is of paramount importance to make sure that the metadata and files are hosted properly.
Alex Altgausen, an executive working in the NFT industry, suggested that NFT projects explore the storage technologies available in Web3. He argued that if NFTs want to successfully disrupt traditional industries, they should look into solutions that are available in the Web3 space.
The NFT industry has come a long way and continues to grow at a rapid pace, but image hosting remains a challenge. With solutions such as dependable blockchains and Web3 technologies, the industry should be able to find a way to ensure that NFT images are displayed properly and securely. As the technology continues to evolve, it is expected that the industry will find solutions that not only improve the experience for users but also reduce the risk of NFTs becoming corrupted or displaying questionable images.