Non-Fungible Tokens (NFTs) have got vast traction in a while. After people elicited their interest in cryptocurrency, the increased price seemed to influence cryptocurrency individually. Significantly, leveraging or reversing the run they had at the time of its announcement. With the increased attention, people have mostly searched for bored ape NFT.
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But why are we reading a blog? Well, a site has created a critic of non-fungible tokens, The NFT Bay, images in bulk. The site was created by a nomad Geoffrey Huntley.
Read More About The NFT Bay Setting a High Sail
After the announcement of the NFT Bay, reach the market. There was vast traction to witness what is it and who made this done.
The site got created by an Australian Digital nomad Geoffrey Huntley. It was basically to feature NFT images scraped from public files, sourced from a marketplace, like OpenSea or a blockchain explorer. There was a note attached to these torrent files stating, “Did you know that [an] NFT is just a hyperlink to an image hosted on Google Drive or another web 2.0 host?”
“People are dropping millions on instructions on how to download images,” and explains that all you need is to right-click to save images from NFT marketplaces.
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How to Buy NFT Art, The NFT Bay
If interested to buy the NFT art, there are a few keynotes that you must look at first.
- These NFTs were developed using Ethereum and Solana
- The torrent file for the NFT is 15 terabytes in size
- You do not get a separate torrent file for every image
- The single torrent file contains all the NFT images in a ZIP.
Controversies on The NFT Bay
When there is new, controversy gets heated. The announcement gave space to commentators to debate the environmental impact of blockchain mining, stating with the statement, “WTF? We destroyed our planet for THIS?!”
After this, the big question arises on its consistency and its everlasting online impression. Let us find this out.
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Will the Site Stay Online?
After knowing the merits of digital ownership, Geoffrey Huntley argues, “all of this…could be achieved without blockchain” and says the “greed [and] scamming going on is sickening.” Although, the legality of the site is still unclear. The Bay decision of copying public images is not significantly different from what NFT marketplaces are doing. For instance, if you look at how OpenSea works, it copies images from its original location to its Google-based storage system.
In such a scenario, the creators may claim copyrights. But what Huntley has scraped is some of the largest NFT collections. It is enough to face a backlash or even bring down the site. But it can be critical for others to bring down the torrent file.
In terms of controversies, opinions on Huntley’s decision to use peer-to-peer torrents is seemed redundant. Huntley argues that “the majority of images I’ve seen are hosted on web 2.0 storage….which is likely to end up as [a 404 error].” Moreover, many NFTs are stored on the peer-to-peer network IPFS, similar to BitTorrent. However, the intention behind the website doesn't satisfy the observers and is not lucid. Huntley itself said the page was developed as a statement entitled “educational art project.” In case the issue arises, The NFT Bay may not be defended.
