FTX NFTs 😐

Writer WMP argues that private servers are the weakest option for NFT longevity, using the shutdown of the FTX NFT platform as an example. The platform relied on a private server, so its NFTs now have broken metadata, following Sam Bankman-Fried being found guilty on 7 counts. The newsletter says the NFT space's floor-based market cap held steady at 5.1 million ETH over the past week, and it previews a future write-up on bespoke storage networks such as IPFS, Arweave, and Filecoin.