NFT Storage and Availability: A Risk Worth Considering

Published by Google

In 2021, we witnessed explosive levels of interest and financial gains in Non-Fungible Tokens (NFTs), which are digital art assets (i.e. images, gifs, and music) whose ownership can be proved and referenced via a transaction ID on an immutable blockchain.

The biggest draws to these online collectibles are the perceived immutable nature of the artwork (in that no one can have their asset seized, stolen, or destroyed) and the proof-of-ownership that resides on-chain. 

In the case of most NFTs created today, users are not buying an immutable asset, but rather an immutable link that points to a hosting location off-chain. Because the hosting source is not on-chain, the potential for asset loss exists.

In this blog post, we’ll review different approaches to NFT storage and the associated security and data availability risks.

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