The NFT party is over and everybody now owes storage rent
Nifty Gateway’s closure highlights a core risk of NFT ownership: the blockchain may preserve a token’s ownership record while the artwork and metadata remain dependent on separate hosting services. The marketplace said it planned to migrate some files to Arweave, continue hosting metadata for older NFTs, and extend withdrawals through April 23. Distributed storage such as IPFS can reduce reliance on one company, but files must still be pinned and maintained; a broken gateway does not necessarily mean the data is gone. Long-term preservation also requires ongoing funding, custodianship, and, for interactive works, maintaining the software needed to experience them. Collectors may need to take responsibility for storing files and arranging continued care.
