IPFS, Filecoin and the Long-Term Risks of Storing NFTs
As NFTs continue their march into the mainstream, it’s important to know how these supposedly permanent digital assets stay that way – or not. IPFS (or the InterPlanetary File System) is a protocol that many NFTs (or non-fungible tokens) point to as their underlying asset. It’s part of the backbone of this new digital economy. […]
How to Spot Trash in the NFT Market
Key Takeaways The growth of the NFT market has presented many opportunities for market participants, but it’s also attracted many trash projects. Tracking the communities, social activity, and roadmap of a project can often give a strong indication of its quality. Extreme hype, high mint prices, and uninspiring, derivative-based artwork should also raise alarm bells. […]
What Are IPFS and Filecoin and How Can They Be Used for NFTs
Decentralized systems cannot promise data “permanence,” but are part of a maximalist approach to storage. What do you actually get when you buy an NFT? You own a unique token on a blockchain that references some off-chain data. The token is non-fungible (unique) and immutable (being on a blockchain). That’s all that an NFT guarantees: […]
4 Things to Do in a Crypto Bear Market
Over $328 billion has been wiped from the global crypto market in the last seven days. That’s more than the market capitalization of pharmaceutical giant Pfizer. Many investors, both new and veteran, will be trapped in the falling market and unable to cash out without incurring heavy losses. According to data from Intotheblock, 28% of […]