A few hours ago a web page appeared where you can download a 20TB torrent that contains all the NFTs that are in the Ethereum and Solana blockchains. The page is called The NFT Bay, and its image is a parody of the legendary torrent database The Pirate Bay.
The creator of The NFT Bay it is Geoffrey huntley, an Australian software engineer. In an FAQ document posted on the page, Huntley describes The NFT Bay as an educational project designed to show people what NFTs are (and are not) so that fewer people are fooled by the myriad scams that circulate around this concept.
“Fundamentally, I am hopeful that people understand that right now what you buy when you buy art on NFT is nothing more than directions on how to access or download an image,” Huntley explains. The image itself is not stored on the blockchain, and in fact most of the NFT images I have seen are stored on web 2.0 systems that will most likely end up on a 404 page. Which means that nft’s are even less valuable. . “
Huntley confesses that his inspiration for this artistic robbery has been Pauline Pantsdown, a character of the Australian comedian Simon Hunt who parodies Pauline Hanson, a politician of the extreme right. “Sometimes the wrong things become very popular, and the only way to unmask them and get to the bottom of the matter is through art,” adds the programmer.
NFTs (Non-Fungible Tokens) have been in the limelight for about a year now, and they continue to gain advocates even though their reputation is getting worse. Social media has been filled with jokes about the fact that to steal some of the (usually terrible) artwork from the NFTs you just need to right-click. The ecological impact of using Blockchain to coin NFTs is also criticized.
But users of social networks are not the only ones who have taken to the NFTs. Last month Steam prohibited any game that had to do with NFT or cryptocurrencies, causing a letter of repudiation signed by 26 developers. Xbox Games President Phil Spencer has qualified the NFTs of “exploiters”. On the other side of the coin there are companies like Ubisoft, Sega or Square enix who have happily joined the scammers.
“NFTs are only valid tools to launder money, evade taxes and cheat the tax system,” writes programming expert Antsstyle in a razor sharp critique that reviews all the dangers associated with NFTs, cryptocurrencies and the blockchain on which they operate. “Currently NFTs have zero value. Its sole purpose is to create a supposed artificial scarcity of a work in order to increase its value ”, he says.