Bluzelle, a decentralized storage network, has announced the release of its mainnet R2 file storage system, which is designed to enhance the decentralization of nonfungible tokens (NFTs) and their corresponding data.
The solution was created amid rising concerns around the lack of immutability on the InterPlanetary File System (IPFS) protocol, a relatively undiscussed model of storage that currently serves as the gold standard for the majority of NFT assets including Cryptopunks and Beeple.
Twitter user Jonty Wareing shared a popular assessment on the fundamental flaws of IPFS for NFT projects.
Short version:— Jonty Wareing (@jonty) March 17, 2021
The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.
Oh, and that URL is not the media. That URL is a JSON metadata file
In their announcement, Bluzelle highlighted that prominent use-cases for their service include NFT content surrounding 3D digital art or video reels.
Pavel Bains, CEO of Bluzelle, spoke to Cointelegraph about the importance of NFT assets and data transitioning from IPFS storage to a truly decentralized system as the sector emerges into the mainstream:
“IPFS is a decentralized network. But it doesn’t assure decentralized storage. Your NFT sits only in one node. That node can go down. If users don’t want that risk, they should be using systems like Bluzelle, which can assure that their asset is safe in multiple places at once.”
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Bluzelle's infrastructure has already been deployed on Mintable and subject to successful testing, is expected to be implemented on a series of other NFT marketplaces in the coming months.
Implementing this decentralized model will grant assurances to buyers and holders that their NFT assets have been secured safely and are resistant to compromise in the event of a platform shutdown. The model is somewhat akin to hardware wallet storage for crypto assets.
Bains also shared his expectations for the mainnet launch, offering his perspective on the potential impact the implementation could have on Bluzelle's ecosystem over the next year:
“This is our first real use case. Kind of like ICOs were for Ethereum. We can focus on one area and really serve those customers. I think NFTs are going to expand and grow in new ways and so it will allow Bluzelle to develop new features to support it. ”