The hype around non-fungible tokens (NFTs) continues to escalate as demand for primary sales is only growing higher.
The last manifestation of this was earlier during the BossLogic NFT drop that took place on the OpenSea marketplace, causing it to essentially crash under the high traffic.
OpenSea Crashes as Traffic Surges
OpenSea, touted as the largest NFT marketplace crashed last night under a serious surge in traffic caused by an NFT drop.
The platform took it to Twitter to explain what happened:
Outage notice: the Bosslogic drop caused a 2X surge in traffic 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!
Naturally, this caused some users to be upset because they’d lost gas fees as a result of the outage. The team responded that they “will not have to pay gas the next time you bid, for the next auction – that cost is only for the first time you ever bid on anything (converting ETH to wrapped ETH).”
BossLogic’s NFT Drop
BossLogic is a well-known artist with almost half a million followers on Twitter and a lot more across different social media platforms.
His latest NFT drop was through a partnership with Ethernity chain to offer 2501 pieces of art to the very first lucky community members.
The tokens were sold for 0.299 ETH and each one of them represented digital artwork that’s featured in the collection.
This latest NFT drop is the latest to create massive hype around it. As CryptoPotato reported yesterday, the interest surrounding non-fungible tokens have surpassed that of ICOs from back during their peak in early 2018. This has caused many people to believe that they are in a state of a bubble.
Featured image courtesy of Inverse