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InvestmentsTorrent Site for NFTs Launched, Reaches Over 1.2M Users in Just 10...

Torrent Site for NFTs Launched, Reaches Over 1.2M Users in Just 10 Hours By CoinQuora


Torrent Site for NFTs Launched, Reaches Over 1.2M Users in Just 10 Hours
  • The Pirate Bay model for NFTs is right here—NFT Bay.
  • It gained 1.2 million customers after 10 hours of launch.
  • Creator dubs this ‘prank’ as an academic artwork challenge.

Geoffrey Huntley, an Australian software program developer, created a ‘Pirate Bay’ for non-fungible tokens (NFTs). Called the “The NFT Bay”, the repository has 17.96 terabytes of NFT picture copies. These JPEG variations acquired a complete variety of 1.2 million in simply 10 hours after launch.

The web site has the identical brand and format as ‘The Pirate Bay’, a torrent web site the place customers can obtain pirated media like movies, music, and video video games.

In an official assertion, the NFT skeptic defined that the stunt has an inventive objective. Huntley describes it as an academic artwork challenge, the place customers will perceive and rethink what they are surely “buying when purchasing NFT art.”

He additional famous:

Fundamentally, I hope by way of http://thenftbay.org individuals study to grasp what individuals are shopping for when buying NFT artwork proper now’s nothing extra then instructions on tips on how to entry or obtain a picture. The picture isn’t saved on the blockchain and the vast majority of photos I’ve seen are hosted on web2.0 storage which is more likely to find yourself as 404 that means the NFT has even much less worth.

Meanwhile, CEO and founding father of NFT improvement company WestCoastNFT Steve Mitobe disputed Huntley’s thought. He stated, “the standard for most NFTs is to use decentralized network storage technology such as IPFS or Arweave.”

IPFS or InterPlanetary File System is a peer-to-peer community for sharing and storing knowledge in a distributed file system. Consequently, Arweave is a worldwide everlasting storage resolution that makes use of proof-of-access know-how.

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