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

Cointelegraph

Published Aug 05, 2022 12:00PM ET

Updated Aug 07, 2022 03:20PM ET

Nonfungible 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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