Nonfungible tokens don't live on the blockchain, experts say

5 Aug 2022

Nonfungible tokens don't live on the blockchain, experts say

Nonfungible tokens don't live on the blockchain, experts sayNonfungible tokens (NFTs) are advertised as blockchain-based technologies, there are misconceptions about how they are stored according to two experts. They argued that technically, these tokens do not exist in the blockchain but are actually stored elsewhere. In a Cointelegraph interview, Jonathan Victor, the Web3 storage lead at Protocol Labs and Alex Salnikov, the co-founder of Rarible, discussed decentralized storage, the future of the NFT space and investing in NFTs.

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