The thing I really enjoy about non-fungible tokens (NFTs) and "smart contracts" more broadly is that there's no way to get them to point to information or objects outside the blockchain without introducing a trusted third party, the whole thing you set up a blockchain to avoid.
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Briefly, they have a bunch of participants vote on the right answer. The assumption seems to be that they will all be independently verifying the data, but I expect in practice they will all be looking at the same data feeds, making the feeds trusted elements of the system.
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I had a galaxy brain moment after hearing someone un-ironically utter the phrase "dispute arbitration, on the blockchain"
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Idk about decentralized oracles but the data type for token_id in the ERC 721 spec is 2^256 which should be enough for a base64 encoded gif
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256 bits would make for a pretty small gif, so that sounds strange. But you don't have to encode it in the token id, your smart contract can store arbitrary data. In fact, there is great on-chain art, e.g. Autoglyphs. Or, consider
@artblocks_io storing the JS code on chain! - Show replies
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