NFT misconception: JPEG aren't stored on the Blockchain

#1

Post by greenSunglass » Tue, Nov 09, 2021, 6:20 AM UTC

NFT misconception: JPEG aren't stored on the Blockchain
erickhun.com

Re: NFT misconception: JPEG aren't stored on the Blockchain

#2

Post by Animats » Tue, Nov 09, 2021, 6:46 AM UTC

Right. And not even encrypted. It's not like you need the NFT to view the image. You only need it to sell it to the next sucker.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#3

Post by sbierwagen » Tue, Nov 09, 2021, 6:49 AM UTC

>ERC-721 is the standard that dictates how one should create an NFT. Each ERC721 NFT must have a tokenURI field, that is an external link to a JSON file stored on an external server ... You can notice the image field, which is a link to an image.

Not just a link, a link to a link! And when that server goes down next year, all those JSON files will vanish.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#4

Post by m0sa » Tue, Nov 09, 2021, 6:52 AM UTC

I'd expect at least a hash of the image to be stored on the blockhain..

Re: NFT misconception: JPEG aren't stored on the Blockchain

#5

Post by hoten » Tue, Nov 09, 2021, 6:55 AM UTC

m0sa wrote: post #4

I'd expect at least a hash of the image to be stored on the blockhain..

Wait, is this not how it works? Seemed like a safe assumption...

Re: NFT misconception: JPEG aren't stored on the Blockchain

#6

Post by tiku » Tue, Nov 09, 2021, 6:55 AM UTC

The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#7

Post by vbezhenar » Tue, Nov 09, 2021, 6:55 AM UTC

m0sa wrote: post #4

I'd expect at least a hash of the image to be stored on the blockhain..

NFT is low tech scam. I'm surprised so much money were attracted. Must be very good marketing campaign.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#8

Post by arcticbull » Tue, Nov 09, 2021, 6:56 AM UTC

hoten wrote: post #5

m0sa wrote: post #4

I'd expect at least a hash of the image to be stored on the blockhain..

Wait, is this not how it works? Seemed like a safe assumption...

Even if it is, you can't really reconstitute the image from the SHA. I mean, unless we just created a new proof of waste algorithm.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#9

Post by renewiltord » Tue, Nov 09, 2021, 6:56 AM UTC

hoten wrote: post #5

m0sa wrote: post #4

I'd expect at least a hash of the image to be stored on the blockhain..

Wait, is this not how it works? Seemed like a safe assumption...

No. The value in the thing is in the key that minted it. Think of it like a signed baseball: easy to replicate, but the original is worthwhile.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#10

Post by mastazi » Tue, Nov 09, 2021, 6:56 AM UTC

I'm very surprised that those (the JSON and the picture) are not stored in a decentralised way e.g. IPFS or Swarm.

So if I buy an expensive NFT, and the domain goes down, the NFT is now worthless?

We should be on the lookout for any of these domains expiring, then we will buy them and upload Rick Astley GIFs