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Distributed storage of content is a great point to draw attention to and is currently addressed by a number of systems that seem to be quite usable from practical perspective - like IPFS or GNUnet.
There was a discussion in Matrix project about pushing media files (which occupy gigabytes on typical server storage) into IPFS but Matrix is specifically a case *not* to as it's a private messenger.
Mastodon however sounds like a perfect place for it.