[senttoschool]

Most NFTs lost 90%+ of value. People are finally waking up to the fact that the jpeg is still stored in a centralized server - often controlled by the NFT issuer. When the NFT issuer shuts down, so does your NFT. Now your NFT points to a broken URL.

[neuralzen]

Most are on IPFS, but about 10% are 100% on-chain

[senttoschool]

IPFS is too slow. Imagine trying to load 1,000 images from IPFS. People won't tolerate it. Hence, IPFS cannot scale.

On-chain also can't scale because you're not suppose to put something like a JPEG on the blockchain.