Geoffrey Huntley, an Australian software developer, has developed an online non0fungle tokens (NFTs) repository dubbed “The NFT Bay.” This repository comprises JPEG NFT versions and not the assets secured by blockchain.
The NFT Bay was launched on November 18, and less than 10 hours later, it had attracted over 1.2 million site visits. The site resembles “The Pirate Bay” torrent website that allows people to pirate films, music, video games and other online content. With The NFT Bay, users can now download JPED versions of NFTs.
Site to teach people about NFTs
Huntley stated that the NFTs were an “educational art project” that would teach people to understand more about buying NFT art. Huntley noted that the underlying technology behind Web 3 was “not so much” of an amazing concept and that many people lacked the understanding of what NFTs were.
“People are exploiting this lack of knowledge and awareness of this technicality, which is very wrong,” Huntley stated. He noted that most NFTs were not stored on the blockchain but on web2 storage; hence they would end up as 404 images in the future.
However, Huntley’s remarks have been disputed by the CEO and founder of WestCoastNFT, Steve Mitobe, who noted that “Where I believe Mr Huntley is incorrect is that he’s assuming that web3 only consists of the blockchain in its entirety. Web3 infrastructure comprises many different parts, including peer-to-peer storage systems such as arweave/ipfs. The blockchain is just one piece.”
Project receives support
While some people have opposed this project, some have opposed it. The supporters are mainly NFT sceptics who state that this torrent will finally dismiss that NFTs contain an inherent value.
Huntley is running this project at the cost of around $145.5, as he is running a server with 40 terabytes worth of storage. He admitted that the website was “going insanely viral” and working just fine as planned.
Huntley is one of the most notable developers in Australia, as he is attributed to the development of the first eSports competition in the country. He has also been responsible for the management of a business operating a computer gaming network.
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