Why You Own Your Mogul NFTs Forever, and Why Other NFTs Can’t Say the Same

NFTs have been all the rage in the crypto world for a long time now, and there has been a massive uptick in demand from the crypto community.
According to most crypto users and members of the Mogul community, NFTs are valuable digital collectibles that can be purchased and sold on marketplaces such as OpenSea and Rarible. NFTs, on the other hand, are merely proof of ownership in a larger sense.

NFTs include Mogul Access Passes. Access Passes can be bought and sold, but they are not collectable in and of themselves. An Access Pass is not a work of art in and of itself (though it is stunning!).
Here’s the deal: When consumers hear the words “NFT” and “proof of ownership” together, they automatically think that they can keep an NFT for as long as they own it. That is the primary benefit that an NFT is designed to offer. For as long as you keep the NFT, you have proof of ownership.

Have you ever considered what would happen if an NFT were to be removed from the server where it was hosted?
Would you gain uninterrupted access to your NFT if it’s stored on a centralized server like Amazon Web Services (AWS) and the person or corporation in charge of the AWS account where your NFT is stored stops paying the bills?

This brings an introduction to the answer IPFS.

WHAT IS IPFS?

IPFS in simple terms is a blockchain-based file-transfer protocol.

It also happens to be the foundation of Mogul NFTs, and it ensures you’ll be able to keep yours for as long as you desire.

Why Most NFT Projects Can’t Guarantee You Perpetual Ownership

A good number of the digital assets individuals take for granted when searched for online are mostly stored on AWS or competing cloud services owned by Google, Microsoft, etc. and as long as those cloud services are being taken for granted, the files stored on individual user accounts can disappear if individuals and businesses stop subscribing to the service.

IPFS was created to decentralize file storage so that no one can take your intellectual property away from you.

The Difference between Traditional File Servers and IPFS

Here is how Traditional Financial Servers Work:

Let’s imagine you want to save a picture from the web. Your computer locates the image by combining your IP address with the URL you type into the address bar. Location-based addressing is the process of using technology to look for an image in this manner.

As long as a centralized server is turned on and functioning properly, location-based addressing makes it simple to get an image. There are two benefits to using a central server. To begin with, it implies that you can delegate server management to an administrator. Second, it implies you’ll have easy access to the information you need.

Traditional servers have the problem of not being able to access the picture if the server goes down. Another example is if the corporation decides to change the NFT picture at any moment and without notice. There were no questions asked!

What is IPFS and How Does It Work?

IPFS stands for InterPlanetary File Systema canary name for a decentralized file system that exists on the blockchain. It employs content-based addresses instead of location-based addresses to point to digital objects.
Individual files stored on IPFS are given hashes, which are sequences of characters. Instead of describing the file’s location, you use the relevant hash to specify the specific content you desire.

If many versions of a file exist, each will have its own hash, allowing users who are supposed to have access to that file to keep their own copy while the blockchain maintains efficiency.
When a cryptographic project needs to save immutable data, it is saved as a single object with a maximum size of 256 kB. That doesn’t rule out the possibility of storing larger files via IPFS protocols. It simply means that in order to trade larger files, numerous objects must be linked together.

Why IPFS is a Better Choice than Traditional Cloud Storage

Blockchains are immutable, which is why IPFS is preferable to cloud storage. They can’t be tampered with, modified, or faked because the data on them is irreversible. Once a file is uploaded and issued a hash, it is permanently stored in the same manner that a Bitcoin transaction is recorded on a public ledger.

IPFS is used for Mogul NFT storage. This means that you own your Mogul NFT indefinitely (or until you decide to sell it). You don’t have to be concerned about a major hacker stealing an expensive collectible from you. There’s also no need to be concerned about your Access Passes mysteriously vanishing from your public profile.
You’ve probably never considered the possibility of losing NFTs because it’s not something that’s frequently mentioned in the marketing of high-value projects or collectibles.

You should now understand the full value of a Mogul NFT that resides on IPFS now that you know it’s possible to lose an NFT due to human error or someone not paying their bills.
Mogul NFTs are designed to be permanent, much like a star on the Hollywood Walk of Fame. Set on the blockchain in this scenario. Whatever Amazon, Google, or any other centralized cloud storage service says.