Filecoin has officially become a storage partner for the Flow Blockchain.
Filecoin said in a statement on October 13th that the move was part of an effort to ensure that NFT holders and issuers are “safely available everywhere”.
The announcement follows an earlier move in August when Dapper Labs was working on integrating Filecoin storage services with the Flow Blockchain.
This collaboration allows Flow users to issue NFTs, take advantage of the Interplanetary File System (IPFS) content management, and store tokens in a decentralized storage hosted on Filecoin.
According to Filecoin, IPFS content management is a solution for URLs that retrieve information on the Internet from specific sites, such as behind URLs. Filecoin claims this method has “obvious disadvantages” as the data is dependent on the central entities that own the sites and thus can “control the content.”
“Content-based addressing no longer pulls content from individual sites. Instead, content is fetched from all the shared nodes on the IPFS network that contain the requested content, ”Philcoin explained.
As part of the collaboration, Filecoin also provided a $ 5,000 “Next Step Grant” for each qualified Flow NFT project that can be integrated with the IPFS or Filecoin network.
“As the Flow ecosystem grows, Filecoin’s decentralized storage will enable future applications built on top of Flow to have an easy way to protect media assets and NFT metadata,” the statement said.
Launched in late 2020, the Dapper Flow blockchain is home to top NFT projects including NBA Top Shot and CryptoKitties. September was an important month for Dapper as the company signed several partnerships with large companies and also raised $ 250 million in funding.
On September 14, Cointelegraph announced that Google has partnered with Dapper as the network operator for Flow. Google has signed up to support the development of Web 3.0 products and services, such as NFT projects with “scalable” and “secure” infrastructure.
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On September 30, the NFL partnered with Dapper to launch the NBA Top Shot on Flow analogue of college football later this year.
In announcing a $ 250 million funding round, Dapper explained that the new capital will be used to fund more licensed NFT sports, music and entertainment projects, and to expand the NBA Top Shot platform.