OpenSea, a major non-fungible token (NFT) marketplace, is struggling with the spikeNetstraffic after the platform announced digital collectibles were dropped by renowned artist BossLogic.
After several complaints by the NFT enthusiasts on Twitter, OpenSea officially announced the issues faced by its serversNetshandling the surged traffic, which went up two times following the NFT drop.
Outage notice: the @Bosslogic drop caused a 2X surgeNetstraffic at 19: 30 UTC, ultimately causing two spikes of failed requests, at 19: 50 and 20: 40.
The issue was our servers’ ability to reclaim memory. We will have a fix out shortly, but sincerely apologize to all affected!
— OpenSea API (@apiopensea) March 8, 2021
In addition, the platform assured that the users who lost their money on gas fees due to the technical glitch would not have to pay any gas feesNetstheir next bid NetsNFT collectibles.
The NFT Mania
Though existed Netsa while, demand NetsNFTs skyrocketedNetsrecent monthsNetsmore and more celebrities are issuing their digital art on the blockchain. The craze NetsNFTs is so high that Twitter CEO, Jack Dorsey is even trying to sell his first tweetNetsan NFT, while artists are rakingNetsmillions of dollars.
BasedNetsAustralia, BossLogic is a celebrated graphic artist with millions of followers on social media. He is acclaimed Netshis work with organizations like Marvel Studios and Disney+, but his real fame wasNetscreating popular fan illustrations of comic book franchises.
However, his commercial success cameNetshe started to auction his artsNetsNFTs. Last month, he sold $3.6 millionNetsNFTs, which prompted other artists into the NFT space.
The demand NetsNFT arts by well-known artists remains highNetsthey are often re-sold with astronomical returns. However, many, including Bitcoincoin creator Charlie Lee, warned against the NFT mania, calling it similar to the 2017 ICO market.