Round 2 / NFT.Storage - Long-Term Storage Flagship Product

Roughly 90% of NFTs store their artwork and metadata off-chain, relying on centralized servers or IPFS—yet neither option is permanent. In 2023, nearly 1/3 of NFTs become inaccessible due to unreliable storage solutions, the highest number of all previous years.

NFT.Storage is essential for NFT creators, marketplaces, collectors, and platforms to ensure their NFTs don’t “die.”

NFT.Storage addresses this risk with a decentralized, endowment-backed solution, providing a robust safeguard against data loss. Using IPFS for content addressing and Filecoin’s decentralized storage network, NFT.Storage aims to ensure that NFTs remain secure and accessible over time. Our on-chain endowment and storage managed programmatically with FEVM's RaaS, continuously manages storage deals and will programmatically funds storage providers, keeping assets verifiable and retrievable for the long term.

Unlike other storage options, NFT.Storage is a public good. While alternative solutions offer permanent storage, their costs are often prohibitive for most NFT projects. NFT.Storage stands out as the only viable, cost-effective option for long-term NFT preservation at scale. By providing affordable and sustainable storage, we enable creators and platforms to securely back up their off-chain data without the high expenses associated with permanent storage solutions.

In the future, we plan to launch the NFT Storage Checker, a tool that will allow block explorers, marketplaces, and wallets to verify the long-term storage status of NFTs. This tool will display verification badges on NFTs, boosting user confidence in the durability and security of digital assets. Platforms can seamlessly integrate the NFT Storage Checker, displaying badges on NFTs stored with NFT.Storage. Users can click these badges to view detailed information about the NFT’s storage conditions, enhancing transparency and trust. The NFT Storage Checker will help platforms showcase NFT reliability while generating revenue to support NFT.Storage’s operational costs. This tool reinforces our mission to provide accessible, long-term storage and peace of mind for the entire NFT ecosystem.