The FTX collapse highlighted many flaws in the crypto industry.
Because of this, NFT owners are still able to see that their NFTs exist.
With this, jac0xb.sol also called out to collections that are still hosting metadata on Amazon Web Services, suggesting that there is a “lesson to be learned” with how FTX hosted their NFTs using a Web2 API service.
On Aug. 5, NFT executives brought up the topic of NFTs not living on the blockchain.
The duo highlighted that main chains often are very limited in size and that it costs more to store data on the blockchain.
Despite the troubles brought about by the FTX collapse, the NFT industry remains confident in the future of the space.
Source: Cointelegraph
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