Aleph.im’s solution will further secure and solidify NFTs on Tezos
Aleph.im, a cross-blockchain decentralized storage and computing network, announced that it will integrate with Tezos blockchain. In line with Aleph’s previous integrations with blockchains like Solana, Ethereum, and Polygon, the Tezos integration will make it easy for developers building on the Tezos blockchain to seamlessly connect with Aleph’s decentralized infrastructure. Tezos-based dApps and marketplaces will be able to utilize Aleph’s distributed compute and storage nodes, and Tezos NFTs will gain an extra layer of built-in security and permanence through a native backup of corresponding metadata to Aleph’s decentralized network.
The NFT market generated over $23 billion in trading volume in 2021, and, as the rest of the cryptocurrency market has struggled in early 2022, the NFT space continues to grow in popularity. However, critics of the space are quick to point out that the vast majority of NFTs still direct the end user to data stored on cloud storage networks managed by centralized Web 2.0 corporations like Amazon and Oracle. Not only does this mean that an outage or interruption in service can cause an NFT to be temporarily inaccessible, but in the event a centralized cloud storage network provider were to cease to exist or go out of business, the lack of redundancy in traditional cloud architecture could potentially render crucial NFT metadata nonexistent. Aleph.im addresses these issues directly with their IPFS-connected NFT backup dApp which ‘pins’ crucial NFT metadata more than 50 times to each core channel node of the aleph.im decentralized network.
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Jonathan Schemoul, CEO and Founder of Aleph.im states, “NFT artists, collectors, and traders are just beginning to learn about the risks associated with centralized NFT storage, and, although the details can be dense, it’s likely that many have heard stories of NFTs disappearing or inaccessible. For this reason, we wanted to make it easy for anyone to use Aleph’s NFT backup dApp, and this integration with Tezos has given us a chance to move one step closer to making NFT backup very easy for the average NFT owner.”
Schemoul acknowledges that typical modern cloud storage solutions are often designed with minimal downtime in mind, but adds, “By pinning copies of relevant metadata to core channel nodes in our network, our NFT backup dApp uses redundancy to curb risk, but in the case of Tezos, we will be integrating the $ALEPH token directly into Tezos NFTs, making it easy for end users to back up Tezos NFTs on the Aleph network.”
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Tezos has gained recognition for being one of the most eco-friendly blockchains through its liquid proof-of-stake consensus mechanism. Unlike other blockchains, Tezos consumes far less energy and provides a congestion-free and cost efficient method to mint, host, and trade NFTs. NFT marketplaces on Tezos will be able to use Aleph.im’s decentralized storage solution to securely store NFTs and their metadata. According to Schemoul, locked $ALEPH tokens embedded into the NFTs offer a simple mechanism designed to pay for storage on Aleph. On the other side, the Aleph.im network also provides a ‘minimum wage’ payment offered to node providers to ensure NFT storage resiliency. Additionally, burning Tezos NFTs will provide the holder with the $ALEPH tokens embedded in the NFT.
“We are very pleased to be able to collaborate with the Aleph team. The arrival of a new decentralized storage solution on Tezos will attract new entrepreneurs to build innovative projects,” explains Hadrien Zerah, Managing Director at Nomadic Labs.
Aleph.im most recently became a technology partner for Ubisoft to provide a decentralized storage solution for Ubisoft Quartz NFTs. Aleph.im has also integrated with several other major blockchains including Ethereum, Solana, and Polygon to provide unstoppable storage and indexing solutions. This mass migration to decentralized storage solutions like Aleph.im signals that Web3 as a whole is moving closer to ensuring all crucial data remains fully accessible indefinitely.
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