Filecoin developers unveil NFT.Storage service.

Protocol Labs, the developer behind the decentralized Filecoin platform, has unveiled a free NFT.Storage service. It is designed for storing non-fungible tokens.

https://t.co/lj7ntW3gQ5 is a brand new service built specifically for storing off-chain #NFT data. Data is stored decentralized on @IPFS and #Filecoin — plus it’s FREE! Learn more: https://t.co/6XIMwRuyaN

— Filecoin (@Filecoin) May 3, 2021

The service was developed jointly with blockchain startup Pinata. It is based on Filecoin and IPFS technologies.

NFT.Storage provides the ability to secure tokens and their associated metadata. The platform guarantees long-term storage of data.

When a user uploads data to the service, the IPFS protocol forms an address linked to a unique cryptographic hash identifier (CID). This approach helps prevent issues such as broken links.

For decentralized storage of metadata, the service uses the Filecoin protocol. Access to the data can be obtained through any public IPFS gateway.

Earlier in April, the OKEx cryptocurrency exchange said it would invest in the development of the Filecoin ecosystem $10 million. Through the Block Dream Fund it will provide financing to the Slingshot, Launchpad Accelerator and Frontier Accelerator projects.

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