We learned in Sharing files and media that ftrack is tracking your files as Asset versions and Components. A Component represents the existance of a file, but does not tell your where the data is located. To keep track of this ftrack uses the concept of Locations.
Centralised storage scenario¶
The default Centralised storage scenario will copy your published files into a folder structure generated from the object names where the Asset version is published, along with the Asset name and version number.
As an example we can say that you have a project named CarCommerical with a folder called Images. Now you publish a file component named front.png on an asset named DarkImage. It becomes version 3 of the asset and will yield a path:
Configured correctly ftrack will know where the storage is mounted on your machine and produce a file path suitable for your OS:
Locations overview for a thorough explanation of locations.