CRYPTO

Integrates Flow Filecoin storage services to further decentralize NFTs

Filecoin has officially become the storage partner of Flow Blockchain.

Filecoin 1 said in an announcement on 13 October that the move was a push to ensure holders and issuers’ NFTs are “safely available everywhere”.

The announcement follows an earlier move in August where Dapper Labs was working with Fly Blockchain to integrate Filecoin’s storage services.

Collaboration Flow enables users to scrutinize NFTs, address interplanetary file system (IPFS) content, and store tokens in decentralized storage hosted by Filecoin.

According to Filecoin, IPFS Content Addressing is a solution to location addressing that retrieves online information from specific locations on the web, such as backlinks from URLs. Filecoin claims that this method has “obvious downsides” because it relies on data-centric entities that own locations and therefore can “control content.”

“In content-based addressing, content is no longer retrieved from a single position on the web. Rather, the content is retrieved from any of the participating nodes on the IPFS network, the content you are requesting, ”Filecoin outlines.

As part of the collaboration, Filecoin has opened “Next Step Grants” worth $ 5,000 for each eligible NFT project in the flow integrated with IPFS or Filecoin’s network.

As the Flow ecosystem grows, Filecoin’s decentralized storage solution will provide an easy way to protect NFT media resources and metadata for future applications built into Flow.

Dapper launched the Flow blockchain in late 2020, and the network is home to top NFT projects, including NBA Top Shot and Crypto Kitty. September was a big month for Dapper, as the firm signed multiple partnerships with top companies and raised $ 250 million in funding.

Cointelegraph reported Sept. 14 that Google has partnered with Dapper to act as a network operator on the flow. Google Web products.0 has helped develop products and services such as NFT projects with “scalable” and “secure infrastructure”.

Related: Blockchains fight for NFT market, but Ethereum still dominates – report

Sep0 September, the NFL partnered with Dapper to launch an American football NBA top shot on flow, which is set to drop later this year.

In announcing the 250 million fund, Dapper noted that the fresh capital would be used to fund more licensed NFT projects across sports, music and entertainment, as well as expanding its NBA top shot platform.