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The “Billion-Dollar Torrent” – All NFTs Can Be Downloaded for Free as Images -Breaking

by Mike Robinson

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The “Billion-Dollar Torrent” – All NFTs Can Be Downloaded for Free as Images

The NFT Bay, which resembles popular torrenting website “The Pirate Bay,” allows anyone to download converted JPEGs of all of the NFTs on the and blockchains, for free. You can find NFT images from CryptoPuppies and Bored Ape Yacht Club as well as CryptoPunks, Farmers World, Farmers World, and many other websites.

Within 12 hours, the website had 1.2 million visits.

The creator, Geoffrey Huntley, an Australian software developer, is a former unicyclist who travels in his van, working remotely to create cutting-edge projects, including the 17-terabyte “billion-dollar torrent.”

Huntley might be trying to demonstrate the futility and inability of having an NFT. This is a digital image which you do not physically have, but can only see on your computer screen.

NFT devotees think that blockchain-inscribed certificates of NFT owner prove the originality and value of digital art pieces. Huntley, however, is skeptical and claims that NFTs can be reproduced easily, which would render them invalid.

NFT Bay is an Educational Art Project. Developer Says
“Fundamentally, I hope through http://thenftbay.org people learn to understand what people are buying when purchasing NFT art right now is nothing more than directions on how to access or download an image,”
Huntley wrote.

He warned, however, that many of the NFTs might end up being dead web pages.

“There is a gap of understanding between buyer and seller right now that is being used to exploit people. The image is typically not stored on the blockchain and the majority of images I’ve seen are hosted on web2.0 storage which is likely to end up as 404 meaning the NFT has even less value.”

Flipside

  • The NFT market is a sensitive one because of the issue surrounding property rights.
  • NFT Bay shows the weaknesses of Web 3.0.

Why you should care

It’s easy to get deceived by the medium, due to the lack of education about what blockchain is and how crypto works. The value and worth of NFTs remains a controversial subject.

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