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[–] 12 points 9 months ago (7 children)

That's technically not true for all NFTs, it's possible for the data (in this case a monkey jpg) to be stored on-chain.

And just to be clear, I'm not saying this to defend NFTs

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  • [–] 5 points 9 months ago (6 children)

    It can be, but IIRC in the case of the Bored Ape Yacht Club ones it wasn't. I think.

    Maybe someone who was smart enough to buy one can chime in and let us know the mechanics.

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  • [–] 5 points 9 months ago (5 children)

    Apparently the apes are stored on IPFS, which is a distributed file storage system. As long as one copy exists, you can prove that copy is correct against the chain. Anyone can host a copy.

    I thought they were plain HTTP as well!

    Source: https://etherscan.io/address/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d#readContract#F6

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  • [–] 3 points 9 months ago* (4 children)

    Even better, I just checked it's hash on IPFS, it just points to a directory containing all possible bored apes...yours is just whichever the NFT meta data says is yours. What a joke LMAO

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  • [–] 3 points 9 months ago (3 children)
  • [–] 5 points 9 months ago (2 children)

    Ahhh, you are correct. I still maintain that it is a joke, however haha

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  • [–] 4 points 9 months ago* (1 child)

    Oh god, I know... I assume you're probably talking about NFTs as a whole, but even as someone in the space, these dumb tokens give us all a bad name...

    There are actually useful NFTs! Like you can get an NFT name like example.eth (like a domain), and use it instead of an address in most Ethereum software. That's so much better than stupid apes...

    edit: also, I really appreciate the acknowledgement; people can be really, uh, hostile.

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  • [–] 4 points 9 months ago

    edit: also, I really appreciate the acknowledgement; people can be really, uh, hostile.

    No worries! Gotta admit when you're wrong so you can grow as a person :)

    And yeah, I'm absolutely sure there are many positive uses of NFTs, storing different varieties of data within a distributed blockchain. It's the speculative part that is just absolutely insane.

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