Brace yourself, almost every NFT supplier out there puts (your) NFT data on their own managed databases, for hosting the metadata and/or the digital asset itself. Why, because it results in faster load times and cheaper storage, it's more convenient, but the problem is it completely defeats the central purpose of blockchains. The integrity of the data is now within the control of one entity, and that means it can be changed, corrupted, and removed, by the actions, faults, negligence, or quality of that one entity. For example, a faulty deployment of a popular open source database is at critical risk of cyber attack or system failure. The practice of referencing locally stored assets clearly undermines the purpose and value of NFT's.
One of the ways Iconic Apps, sets the gold standard in NFT security is by storing all asset-related customer data on the IPFS (Inter Planetary File System), a protocol and peer-to-peer network (decentralized) for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices. Importantly, this means the actual data referenced by the NFT is also immutable, thus incorruptible.
The tradeoff for this level of security: there may be slower load times involved with IPFS as it grows to maturity. This protocol is necessary to ensure our customers' data (NFT) is protected, and cannot be changed, molested, corrupted, damaged, or removed.
In other words, the first step to get a gold standard NFT, one where you can make a claim the data is not tampered with and cannot be tampered with, with certainty, must ensure that its metadata records and asset storage on the NFT itself are all on decentralized peer-to-peer networks ensuring immutability, namely blockchain and IPFS.
Updates:
Adding royalties to your NFT. It's an option you can add on the checkout page for $1 USD, and of course, you can choose the amount of royalty. It's an amazing tool because it allows you, down the road, to sell your NFT while retaining publishing and usage rights. For example, let's say you minted a quote, poem or story and added a 10% royalty to the NFT, and then sold that NFT for (name amount). It's still your material (meaning you can still use the quote, poem or story as you wish, you've only sold the NFT of that material (sort of like its birth certificate). As your reputation grows, so does the value of that NFT, and each time it's sold, you'd receive a 10% royalty of the sale price. FYI: We're currently in development of a unique marketplace that will make listing and selling your NFT's easy and seamless.
Adding ROSE to your NFT. New Nifty99s NFT's (Iconic Quotes, Iconic Jokes, Iconic Media) can be now be backed by ROSE with the press of a button. We are the first company to make this option available. We look at this as an investment in the creativity and originality represented by each of you (the creators) using our unique platform and tokens.
Note: Iconic Apps are only available on the iPhone App Store under - Iconic Quotes, Iconic Jokes, and Iconic Media.
