When you want to view an image, video or document on web2 – you’ll usually see it via a URL where the content is stored on a server. This server is managed by the website creator and they have full control of what you see, and can change it if they want to. It’s the last part of that sentence that makes it a poor way to store web3 content – because what’s the point of purchasing an NFT if someone can switch it out on you? That doesn’t seem very secure or Non-Fungible! Enter asset pinning.
When you mint an NFT, what you are doing is creating an entry on the decentralized ledger of the blockchain that points to assets associated with that entry. *Those* assets are your NFT – and should be immutable so there are no rug-pulls! If the ledger points to content on a centralized server or even a dropbox link, then the person who has access to that server or dropbox can swap the asset out on you (rug pull!). That’s not how NFTs are meant to work and that’s where asset pinning comes in. At GrandStation we use the IPFS to host our NFTs. IPFS is where we “pin” the assets that are minted. IPFS is a decentralized network and therefore we cannot make changes to assets once they are pinned – which is how it should be!
IPFS is a protocol for uploading and storing decentralized web3 assets. When you pin assets from GrandStation to the IPFS network (which happens automatically behind the scenes when you mint an asset), the asset is split into smaller chunks, cryptographically hashed, and given a unique fingerprint called a content identifier (CID). This CID acts as a permanent record of your file as it exists at that point in time (and is therefore immutable as an NFT should be). Your minted NFT has a referrer to the file’s CID and therefore you can always view your ownership (on the blockchain) and the assets associated with your ownership on IPFS.
These requirements for correctly decentralizing assets (so that it’s a true web3 NFT) can be quite daunting, even for seasoned developers, that’s why GrandStation does the heavy lifting for pinning and minting assets, so that you can focus on your art while we make sure your NFTs are true web3 assets that your customers can feel comfortable purchasing and owning in perpetuity (or until they want to sell them to someone else!)