Wednesday saw NFT supporters discover that the metadata associated with the NFTs hosted on the FTX US platform was not working correctly. Links now redirect to an FTX page for restructuring. In particular, Solana-based Marketplace and NFT images cannot be displayed on the blockchain due to the FTX platform. Furthermore, the Coachella NFT marketplace has disappeared.
FTX US-Hosted NFTs Redirect Metadata to FTX Restructuring Webpage
This week, NFT owners hosted by FTX US noticed that they can no longer view their animated NFT images or animations as the FTX US-derived NFTs point to broken metadata. The issue was first noted by crypto supporters and NFTs on Wednesday.
“Oh look, FTX hosted all the minted NFTs on their platform using a Web2 API and now all those NFTs have broken metadata, and the links go to a restructuring website,” tweeted the jac0xb.sol account on Wednesday. Jac0xb.sol further added:
There are still many things to learn about. However, the metadata remains in the collections hosted on [Amazon Web Services].
Jac0xb.sol’s tweet was not the only one. The exclusive Twitter account @web3isgreat, which highlights the best of Web3, also tweeted about the NFT issues on FTX US. “It’s great to have Web3!” the account stated, noting how the nft.coachella.com/marketplace website shows zero listings.
Furthermore, the account stated that NFTs linked to FTX US appear in secondary markets listings, but the images or the metadata have been damaged. The music-and-arts festival is produced by the company Coachella, with FTX US being a partner since February 2022.