# FTX NFTs 😐 Source: https://metaversal.banklesshq.com/p/ftx-nfts Kiwi News: https://news.kiwistand.com/stories/FTX-NFTs?index=0x65481c109a1657399dff6a2eb97bc224760baee6b024d81854b37102a4d0d2007848f4c8 Submitted by misha on 2023-11-05 UTC, 1 upvote, 0 comments ## Summary 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. ## Article Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & more! Dear Bankless Nation, Now that Sam Bankman-Fried was just found guilty on 7 different counts, I’ve been doing some reflecting on the FTX saga. One thing I keep coming back to is the shuttering of the FTX NFT platform, which relied on a private server so now all its NFTs have broken metadata. Yikes. Of course, the episode’s so instructive because it’s a recent high-profile example of how private servers are the worst way to underpin NFTs as far as longevity is concerned. Yet to be sure not everything has to be fully onchain. Next week I’ll be doing a write-up on the basics of bespoke storage networks like IPFS, Arweave, and Filecoin, so keep an eye out for that. In the meantime have a great weekend everyone and thanks for reading. Now here’s your latest weekly NFT roundup! ✌️ -WMP 🙏 Sponsor: Kraken — Kraken NFT is built for secure NFT trading ✨ Over the past week, the floor-based market cap of the NFT space stayed steady at 5.1 million ETH for a 0% 7-day change ⭕ 🏹 Settle, Hunt, Claim, Repeat. Be more bankless and become a Bankless Citizen today! Upgrade now Johnny Mack unveiled the Subscription Token Protocol (STP). Jokerace added support for NFT allowlists. Lens completed Phase 1 of its V2 protocol migration. OpenSea announced layoffs ahead of “OpenSea 2.0.” OpenSea Pro added support for Polygon. Party revealed an Add New Members feature. Phantom rolled out a Camera Mint feature on mobile. Rarible launched RaribleX. RTFKT revealed plans for its Evo Vial Evolution event. 0xmons launched the AKOLYTES collection. Folia hosted its Coordinates drop by Travess Smalley. Foundation intro’d Teams to its Worlds system. fxhash 2.0 is launching December 1st. Gemma, a new onchain art ecosystem, launched on Zora. Sound launched its multiplayer social feed. XCOPY minted a new collection, REMNANTS, for Rare Pass holders. Zien kicked off its New China Contemporary drop. Axie Infinity kicked off its Origins Season 6 Mystic Era. Forgotten Runes is launching the Runiverse game next week. Pixels, a pets adventure game, migrated to Ronin. Project T added support for Axie Experience Points (AXP). Solana Labs unveiled the GameShift beta, an API for game devs. Small Brain Games intro’d Drawtech, a new fully onchain mobile game. Decentraland rolled out Decentraland Worlds, i.e. personal virtual spaces. NFTfi.com added support for unwrapped CryptoPunks. Sudoswap launched a Creator Dashboard system. Did you catch my write-up on cross-chain NFTs earlier this week? Then you remember Holograph, which is known for its “holographic asset” hNFTs. If you’re interested in cross-chain NFTs but have never minted one before, you might consider the current free drop on Holograph, Forget About Time by Clara Luzian a.k.a. Renderfruit. At the time of publishing there’s still just under a day left to mint, and since it’s an hNFT you can collect on Ethereum, Polygon, Optimism, Arbitrum, Zora Network, Mantle, BNB Chain, or Avalanche. Your pick! 1. Alchemy on ERC-6900 🧠 2. Clara on collector motivations 🧐 3. ilemi on Solana NFTs 🟣 4. S4mmy.eth on digital stamps 📬 5. WASD on Drawtech ✏️ Want to check if a particular NFT collection stores its NFT art and metadata onchain? There aren’t any comprehensive resources toward this end, but there are a handful of awesome repositories — some actively growing, some no longer maintained — that do provide great foundations for cross-checking. Keep these databases on your radar going forward accordingly: 1) 0xchain.art 2) fullyonchain.art 3) onchainchecker.xyz 4) jpg.space/canonsonchain 🪞 Check out Holograph’s new drop 📚 Collect this week’s Metaversal posts on Mirror 🆕 Catch up on my latest write-ups: ⏳️ Evolving NFTs 🔗 Cross-chain NFTs 🐂 8 Tips for the Bull Market A Bankless Citizen ⚑ turned $264 into $6,077 last year. A 22x ROI 🚀 in a bear market! Level Up Kraken NFT is one of the most secure, easy-to-use and dynamic marketplaces available. Active and new collectors alike benefit from zero gas fees, multi-chain access, payment flexibility with fiat or 200+ cryptocurrencies, and built-in rarity rankings. Learn more at Kraken.com/nft 👉 Visit Kraken.com to learn more and open an account today. Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.