• NFT projects are facing issues with image hosting due to issues such as NFTs breaking on FTX and Magic Eden showing questionable images instead of their actual thumbnails.
• Industry executives recommend using dependable blockchains for the NFTs themselves and storing them on a distributed ledger that is not controlled by a single entity.
• Executives also suggest exploring storage technologies available in Web3 to avoid future problems in NFT image hosting.
The Non-Fungible Token (NFT) industry has been dealing with major issues with image-hosting recently. The first issue occurred when the NFTs on FTX declared bankruptcy and the second issue occurred when Magic Eden showed pornographic images instead of their actual thumbnails. As the problem persists, 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 issue with FTX NFTs was that the metadata was hosted using a Web2 API. To avoid this type of problem, Huber recommends using dependable blockchains for the NFTs themselves and storing them on a distributed ledger that is not controlled by a single entity. He also suggested that very few projects currently host the actual images on-chain, but that it is of paramount importance to make sure that the metadata and files are hosted properly.
Alex Altgausen, an NFT project executive, believes that if NFT projects want to disrupt traditional industries, they should explore storage technologies available in the Web3 space. He believes this will help to solve the issue of image-hosting disasters. Similarly, Vladimir Tomko, CEO of the NFT marketplace OpenSea, believes that the blockchain should be used as a tool to ensure data integrity and security, and that projects should invest in infrastructure and processes that allow them to store and maintain data.
Overall, it is evident that the issue of NFT image-hosting disasters needs to be addressed in order for the industry to move forward. It is clear that industry executives recommend using dependable blockchains and exploring storage technologies available in the Web3 space in order to avoid future problems. As the NFT industry continues to grow, it is essential that these issues are addressed in order to maintain the security of the data.