There’s a new website the crypto community has been discussing called The NFT Bay, a web portal that operates in a similar fashion to The Pirate Bay (TPB), because the platform hosts a huge selection of NFTs stemming from various blockchain platforms for free. The creator of the portal revealed Thursday a file called “The billion dollar torrent”, which claims to contain all NFTs from Ethereum, Solana and other blockchain platforms.
‘The Massive NFT Heist:’ Pirate Bay Clone The NFT Bay Sparks Heated Discussions
Over the past year, non-fungible token collectibles (NFTs) have gained huge popularity. Billions of dollars have been spent buying these digital items. Many people in crypto believe NFTs are useless and that anyone can click on the NFT image to own the artwork for free. Since the introduction of NFTs, it has been a hot topic. The debate became even more controversial in March when an NFT immutability debate ensued and crypto supporters highlighted how NFTs were being deleted and images were being replaced.
Months later as NFTs continue to rise in both popularity and value, an individual tweeted about an interesting web portal called The NFT Bay. “OMG who right clicked all of the #NFTs?” the individual tweeted on Thursday. The individual named Geoff also left a torrent link hosted on The NFT Bay (thenftbay.org) called “The Billion Dollar Torrent,” which hosts all the non-fungible token assets stemming from Solana and Ethereum. After the tweet got thousands of likes and retweets, Geoff said he was headed to bed but left some press statements behind.
The web portal thenftbay.org.
The NFT Bay functions in a similar way to The Pirate Bay (TPB) because it hosts a large selection of NFTs derived from blockchain platforms. The link leads to the torrent, where users can use a torrenting site to download the seeded file. The NFT Bay looks very similar to TPB. It uses the same colors as TPB’s website and even has TPB’s logo. You can find a variety of NFTs on the main page, as well as filters to NFTs from different collections such as Cryptopunks, Bored Ape Yacht Club, and Axie Infinity.
The file Geoff tweeted was called “The Billion Dollar Torrent”. It contains a file that can be used to create NFTs using Ethereum-based or Solana-based technology. It also states that the file is available for both Solana-based and Ethereum-based NFTs. Support is due to fraud-prone artists
In Geoff’s press statements it asks why and the answer is “Art”. Geoff also discusses his background to explain the core reason behind thenftbay.org. Github’s press statements note:
Fundamentally, I hope through thenftbay.org people learn to understand what people are buying when purchasing NFT art right now is nothing more [than] directions on how to access or download [an] image. The image is not stored on the blockchain and the majority of images I’ve seen are hosted on web2.0 storage which is likely to end up as 404 meaning the NFT has even less value.
‘Underlying Technology Is Amazing, Greed and Scamming Is Sickening’
Geoff shared his thoughts on NFTs and the reasons for the creation of the web portal. Geoff believes that social media platforms will be the best place to find NFTs’ utility and value.
Ok, the one thing I will begrudgingly enjoy about NFTs is a massive NFT heist https://t.co/99CHemfngB
“A lot of digital representations are > physical representation and (if/when Twitter/TikTok (discord back away from it), roll out the ability for users to show flair on their social media profiles that will be a turning-point,” the press releases explain. Geoff also stated that the excitement surrounding Twitter’s blue verified mark is an excellent example of why verifiable proof could be crucial. Geoff stressed that “all of this” could be achieved without blockchain. “Could be achieved without blockchain.”
” What people can build with “web3″ is amazing,” the creator of NFT Bay concluded. The underlying technology is not as good and there is a lot of greed and scamming. The dreams for a different future remind me of the internet in the 1990s. What’s fascinating here is the communities are very strong and can self-fund the discovery phase. Where it goes pear shape is when ‘we gotta get new blood in to [a] pump/dump.'”
The question is what value people will place on this so-called NFT heist. People may ignore the torrented files and assume they are not ‘the true’ or verifiable NFTs. Since long, the controversy over verified ownership and right-clicking on a JPG/PNG file has been raging. It seems that it is still not resolved. It may actually take years or even decades to determine the validity of NFTs and their value in the future.
What do you think about The NFT Bay and Geoff’s press statements about the project? Please comment below to let us know your thoughts on this topic.
Image Credits: Shutterstock, Pixabay, Wiki Commons, The NFT Bay website,
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