I heard the dumbest thing about NFTs is that they dont have reference to the file, instead many have inside of them a URL hosted by the exchange, so the image you buy as an NFT isn't actually included with the purchase, and if the URL dies then the proof it's the hash for it dies with it
I may have messed up the calculation somewhere but if that Beeple NFT had hosted the image on the blockchain it would cost roughly $42.9M for the transaction alone.
I heard the dumbest thing about NFTs is that they dont have reference to the file, instead many have inside of them a URL hosted by the exchange, so the image you buy as an NFT isn't actually included with the purchase, and if the URL dies then the proof it's the hash for it dies with it
Sounds pretty accurate, hosting data on the blockchain can get quite expensive.
You spend $65M on a jpg, you would think that wouldn't be a problem.
I may have messed up the calculation somewhere but if that Beeple NFT had hosted the image on the blockchain it would cost roughly $42.9M for the transaction alone.