.svg)
NFT.Storage needs you, the NFT community, to help remain operational. We’re seeking donations so that we can continue our mission of preserving all NFTs as timeless assets—so that NFTs don't become "dead" because linked images and metadata are not accessible!
Without these funds, the future of NFT.Storage will not be guaranteed.
The NFT industry has created an incredible cultural legacy, but it's at risk.
The connection between an NFT and its off-chain media and metadata assets is inherently fragile. If off-chain storage solutions—like centralized servers or IPFS pinning—fail, the linked media and metadata can become inaccessible. Centralized servers can go offline, while IPFS, though decentralized, sometimes needs active maintenance and financial support for the files to remain pinned.
Most NFTs are vulnerable because their media and metatdata data rely on external "off-chain" systems that can fail. In these cases, the NFTs still exist on the blockchain, but if the linked images, videos, or metadata are not available to be retrieved, it creates a "dead" NFT where ownership persists but access does not.
NFT.Storage solves this by backing up the off-chain data in long-term, decentralized storage, that is powered by smart contracts and backed by an on-chain endowment.
Earlier this year, NFT.Storage spun out of Protocol Labs and became its own independent entity to continue our mission of NFT preservation. Since then, we’ve faced challenges in securing sufficient funding. As an ownerless organization, NFT.Storage is committed to serving the public good, but sustaining our mission requires community support.
We’re aiming to raise $750,000 by November 10. If we don’t reach our goal, the future of NFT.Storage will not be guaranteed, and we may be required to take steps to wind down the business or consider alternative solutions.
(Every donation, no matter the amount, makes a difference. Whether it’s $1 or $1,000, your contribution helps.)
Thank you to everyone who has supported NFT.Storage this year, financially and through other contributions.
You're right to ask why. Let us explain.
Rest assured, your NFT data stored in our endowment-backed decentralized storage will remain safe and accessible. Data already backed up will continue to function. Even if we are unable to meet our fundraising goals, your data will still be preserved through the long-term Filecoin storage deals already in place that will continue to be paid for by the on-chain endowment.
The $750,000 covers costs for the next year, including maintaining our long-term decentralized storage product. These funds are necessary to keep the platform running and accessible while we transition to a sustainable, revenue-generating model.
Protocol Labs provided an initial grant to help NFT.Storage spin out as an independent entity in April 2024. We are committed to becoming sustainable through new revenue-generating products.
The biggest challenge is transitioning from a grant-funded model to one driven by revenue. We are planning to develop new products like the Storage Checker and dedicated endowment-backed storage, which will help generate revenue. We’re confident in our ability to make this transition but need community support to keep operations going in the meantime.
Our focus is firmly on NFTs and ensuring their long-term preservation. While our infrastructure could technically support other types of data, our mission is centered around NFTs. Our product roadmap is built to serve the NFT ecosystem.
Share this tweet to help keep NFT.Storage operational.
About your donation: At NFT.Storage, we are committed to being a public good, ensuring our products are accessible to everyone. Your donation helps support our mission. As an Australian company, we plan to apply for not-for-profit status in Australia. However, please note that donations to NFT.Storage are not currently tax-deductible. This means you will not receive a tax deduction or write-off for your donation. We greatly appreciate your support and understanding.
(1) The NFT Apocalypse, by Jason Bailey, Right Click Save
(2) 2024 NFT REPORT: are NFTs Dead !?, by nft evening
.avif)