An allusion to the nature of proverbial tokens; A platform with which you can download expensive NFTs for free!

An Australian programmer has designed a platform that puts many of the most popular and expensive NFT tokens on the market for free download. This move is an allusion to the way of buying and selling and the nature of unique tokens.

to the Report Silicon Angel Australian programmer Geoffrey Huntley has launched a website called “The NFT Bay” which has a 19.5 terabyte file of unrelated tokens for download. The Australian programmer’s idea contains hints about China’s blockchain technology.

The platform’s naming and website design are both modeled on The Pirate Bay, a torrent file search website. Pirate is a platform that allows users to download software, music files and movies for free. Huntley called the website “an educational art project” and was designed to show people what they actually got when they bought an NFT.

Duplicate tokens are a type of digital asset that provide digital ownership using digital blockchain technology for digital items such as artwork, video, and in-game items. Holders of NFTs can claim to own a digital asset because they have the encrypted token associated with that digital artwork and have the keys to exchange that token in a wallet.

However, Huntley believes that NFTs often do not store any media content in the Chinese blockchain and are the only source of ownership for digital content.

The founder of The NFT Bay website said:

Fundamentally, I hope people understand what they are paying for, while now buying NFT a work of art is nothing more than a guide to how to download or access an image file. This image is not stored in the Chinese blockchain, and most of the images I have seen are stored in a second-generation web memory that is one page long. [ارور] “404” ends and that means NFT [از یک فایل معمولی تحت وب] It is also worth less.

Also read: NFT build tutorial; How to sell our unique tokens?

Huntley’s view does not mean that there is no distributed storage path for NFT-related content. For example, the IPFS, Filecoin, and Arweave platforms all support decentralized image file storage. However, some of these NFTs may be lost for a variety of reasons, and in such cases these platforms are more reversible than concentrated samples.

Steve Mitobe, founder of WestCoastNFT, an NFT development platform for artists, therefore disagrees with Huntley. He says the current standard for NFTs is the use of decentralized storage; Part of the third generation of the web that is connected to the distributed web.

Mitob says:

I think Mr. Huntley is wrong that the third generation of the Web is made up entirely of Chinese blocks. Third-generation web infrastructure consists of several components, including peer-to-peer storage systems such as Arrow and IPFS. The Chinese bloc is only part of this [سیستم] Is.

Despite all these concerns, the market for unique tokens has grown exponentially over the past year, largely driven by the popularity of collectibles, digital artwork, and in-game video game items. During the third quarter of 2021 alone, the volume of works sold in the NFT market reached $ 10.7 billion.

The CryptoPunks suite, the Bored Apes Yacht Club board, and the Axie Infinity game items are some of the most well-known NFTs in The NFT Bay.

To give you an idea of ​​the price of unique collectible tokens, it might be a good idea to know that token No. 7523 of the Crypto Punx collection sold for $ 11.8 million in June and 8817 board tops or YC Club tokens in October. ) Sold for $ 3.4 million. These prices are paid for the rare species in these collections and do not indicate the approximate price of all the tokens in these collections. However, when news of such large sales is published, as is common with other currents, attention to the NFT market increases.

Another problem is that anyone can build an NFT and sell it without any basic art content. For example, a hacker recently posted a fake image of Banksy, a famous British painter and artist, and sold it on Banksy’s official NFT website. Of course, the hacker returned the money paid to him by the buyer.

The debate over NFTs and the problems in this market continues to grow. Jason Citron, the founder of the Discord social network, recently tweeted about adding NFTs and digital currency wallets to Discord, which provoked a strong reaction from the community of users of this social network.

Valve Corp., a company that manufactures and distributes computer games, also removed blockchain-based games from its digital gaming platform, Steam, in October. However, in response to this, Epic Games announced that Chinese blockchain games could operate in the Epic Games market without any problems.

In recent weeks, other gaming industry giants have also shown some interest in NFTs, blockchain technology, and gaming revenue models. In such an environment, players can receive unique tokens and exchange them for digital currencies or cash by playing various games. Large companies such as Electronic Arts, Ubisoft, NCSoft and Zynga have also expressed interest in the field.