VideoCoin (VID) will be integrating Filecoin (FIL) to power the Video NFT marketFilecoin will provide the necessary storage capability for Video NFTsVideo-based totally NFTs are gaining popularity and evidence of ownership on Filecoin will likely be a gateway in opposition to video beginning verification
The decentralized file storage project of Filecoin (FIL) will soon be the home of video NFTs way to an integration with VideoCoin (VID). The latter undertaking is operating on making a solution for the dependable creation, storage and trading of video NFTs at the Ethereum network.
VideoCoin targets at achieving this by way of bypassing the complexities and evident prices of storing precise data on Ethereum, during the integration of Filecoin and an evidence of Possession set of rules as explained below.
The Video NFT platform will create and store an explanation of Ownership along the Video NFT that solves an important ache point in today’s NFT landscape of no longer being able to prove ownership of, for instance, a piece of art. Proof of Ownership on Filecoin will allow a whole new magnificence of packages for NFTs alongside virtual collectibles, together with video beginning verification.
Filecoin’s Capability Exceeds 4.6B GigaBytes
Details of the Video NFT platform will likely be launched in the days to apply with intricate details on how the VideoCoin community is being deployed to create the following generation of video applications at the blockchain.
Filecoin (FIL) is especially suited to the task at hand for the network has grown to exceed 4.6 billion gigabytes of garage capacity. For comparison purposes, any such garage quantity is enough to retailer over 1.3 Billion 1080p answer movies.
Filecoin workforce’s Atmosphere Lead, Colin Evran, further highlighted that VideoCoin’s integration with the IPFS garage gadget will open the doorways to the introduction of immutable virtual videos.
Video NFTs are a herbal evolution to the widespread adoption of static NFTs we’re seeing inside Web3 in 2021. VideoCoin’s integration of IPFS & Filecoin forms a brand new technology stack that would power the introduction of immutable and permanent digital recollections and collectibles.