Blockchain will incentivize people/miners to "pin" data, i.e., CIDs (content identifiers) in IPFS terminology. You may look at Filecoin (https://filecoin.io), which is the incentivization layer on top of IPFS, and it is built by the same company that built IPFS.

IPFS and blockchains may work together well because of the similarity in their structure. In reality, Juan Benet, the founder of IPFS calls this a “ great marriage. ”IPFS is one of a few projects that are part of a community called Protocol Labs, which was also created by Benet. Some IPFS-related projects from Protocol Labs are IPLD (Inter-Planetary Linked Data), and Filecoin. IPLD is a paradigm of distributed data systems such as blockchains. This model allows for easy storage and access to data from blockchain through IPFS. Users willing to store IPFS data will receive Filecoin in return. IPLD allows users to seamlessly interact with multiple blockchains and has been integrated with Ethereum and Bitcoin. In short, IPFS connects all these different blockchains in a way that’s similar to how the web connects all these websites together. The same way that you can drop a link on one page that links to another page, you can drop a link in ethereum [for example] that links to zcash and IPFS can resolve all of that. — Juan Benet

IPFS is A peer-to-peer hypermedia protocol. Its content addressing enables blockchain developers to store large files off-chain and put immutable, permanent links in transactions — timestamping and securing content without having to put the data itself on-chain.

IPFS will store the hash of the file on the blockchain, you can save the cost of storing the data on the blockchain, which is currently an issue.

To understand how IPFS in conjunction with Blockchain Technology can be used check this paper: Article Privacy Protected Blockchain Based Architecture and Implemen...