In celebration of my ’24 New Years goals, I’ve launched my first ‘official’ New Functionali-Tee smart contract on the Theta blockchain. I’m calling it the Metadata Hash NFT which shows a technique by which an NFT project author can demonstrate file authenticity while using a private server.
Mint Here!
Why?
Well, I’ve put some thought into the whole InterPlanetary File System (IPFS) idea and it doesn’t really make sense to store somethings forever. Imagine if the concert you went to in ’84 was an NFT and the ticket was an NFT that was issued and redeemed within a couple months. Would it make sense to have that digital garbage still hanging around 40 years later? Probably not. Seems like a waste of global resources.
But, if you were the chairman of the band’s fanclub you would probably want to save all that original data. If you do, the cost of ownership is local and most likely manageable.
The complication comes when proving you hold the original data.
Blockchains help with this. If you hash a file and then store that hash on the blockchain, it doesn’t matter who owns the file or where it is stored, if you have the original file you can prove it by generating the original hash.
This project takes advantage of this functionality by hashing all the files used to build this NFT and writing those hashes into a project file which is intern hashed. That final hash is stored on the blockchain.
If someone gets a copy of the root file (which holds all the hashes) they can prove that they have an original by hashing it. If the hash matches the blockchain value the file is unaltered. Then, all the hashes stored within that project file can be used to validate that all the other files (images, whitepaper, etc) are also unaltered.
This allows a level of verification that allows project creators to change servers and still prove they have the original files. This might allow an artist to sell his creation to a different company and that new owner can serve the project in a verifiable way.
In the end, the public cost is a hash on the blockchain.
The NewFunctionaliTee
Contract: 0x3af8d9df292ba083fb37d71df813f6d5ab0ad450
Whitepaper: https://amorstyle.com/nfts/metadatahash/whitepaper.pdf
Project: https://amorstyle.com/nfts/metadatahash/metadatahash.json
And, if you’d like to mint one of these NFTs, click HERE!