{"id":15285,"date":"2022-12-08T23:15:58","date_gmt":"2022-12-08T23:15:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-hosted-nfts-point-to-broken-metadata-issue-illuminates-flaws-with-nfts-tied-to-centralized-clouds-bitcoin-news\/"},"modified":"2022-12-08T23:15:58","modified_gmt":"2022-12-08T23:15:58","slug":"ftx-hosted-nfts-point-to-broken-metadata-issue-illuminates-flaws-with-nfts-tied-to-centralized-clouds-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-hosted-nfts-point-to-broken-metadata-issue-illuminates-flaws-with-nfts-tied-to-centralized-clouds-bitcoin-news\/","title":{"rendered":"FTX-Hosted NFTs Point to Broken Metadata, Issue Illuminates Flaws With NFTs Tied to Centralized Clouds \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Wednesday, non-fungible token (NFT) supporters discovered that NFT metadata hosted on the platform FTX US points to broken metadata, and the links now point to FTX\u2019s restructuring website. Specific collections that were minted on the Solana blockchain via the FTX US NFT platform do not show the NFT\u2019s imagery and marketplace listings on the Coachella NFT marketplace have disappeared.<\/strong><\/p>\n

FTX US-Hosted NFTs Redirect Metadata to FTX\u2019s Restructuring Page<\/h2>\n

This week owners of FTX US-hosted NFTs are discovering they can no longer see their NFT\u2019s imagery or animations, as NFTs that derived from FTX US point to broken metadata. A number of crypto and NFT supporters discovered the issue on Wednesday.<\/p>\n

\u201cOh look FTX hosted all the NFTs minted on their platform using a Web2 API and now all those NFTs have broken metadata, and the links go to a restructuring website,\u201d the Twitter account jac0xb.sol wrote<\/a> on Wednesday. Jac0xb.sol added<\/a>:<\/p>\n

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There is a lesson to be learned here yet collections are still hosting metadata on [Amazon Web Services].<\/p>\n<\/blockquote>\n

In addition to Jac0xb.sol, the Twitter profile @web3isgreat<\/a>, an account that highlights Web3\u2019s special moments, tweeted about the FTX US-hosted NFT issues as well. The Web3 is going just great Twitter account noted how the website nft.coachella.com\/marketplace<\/a> shows zero listings.<\/p>\n

\"FTX-Hosted
The Coachella NFT marketplace on Dec. 8, 2022, shows zero listings.<\/figcaption><\/figure>\n

Further, the account also detailed that the FTX US-tethered NFTs from the Coachella NFT collection do show up as listings on secondary markets, but they don\u2019t show imagery and the metadata is broken. The company behind the music and arts festival, Coachella, partnered<\/a> with FTX US in Feb. 2022.<\/p>\n

\"FTX-Hosted
Coachella NFT listing hosted on magiceden.io on Dec. 8, 2022.<\/figcaption><\/figure>\n

If a user visits an NFT marketplace, such as magiceden.io, and searches for NFTs stemming from the Coachella collection, the listings page will show micro-images of the compilation\u2019s artwork. However, when a user toggles to see the details of the actual listing<\/a>, the NFT\u2019s imagery is not shown.<\/p>\n

Similarly, FTX US-based NFTs listed on Opensea show the images on the main sale page<\/a> and even some of the details on individually listed NFTs still show the images, but there are many that do not or they show errors. The NFTs that are listed on Opensea show a floor value of around 100<\/a> ethereum (ETH<\/a>) and Coachella NFTs listed on magiceden.io are listed for prices between 1-100 SOL per unit.<\/p>\n

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\nTags in this story
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0 listings<\/a>, Amazon Web Services<\/a>, AWS<\/a>, Blockchain<\/a>, broken metadata<\/a>, Cloud Hosting<\/a>, Coachella NFT Marketplace<\/a>, Coachella NFTs<\/a>, ftx<\/a>, FTX US NFTs<\/a>, FTX US-hosted NFT<\/a>, FTX.US<\/a>, images<\/a>, Listings<\/a>, Metadata<\/a>, NFT art<\/a>, NFT issues<\/a>, NFTs<\/a>, Non-fungible Token<\/a>, Non-fungible tokens<\/a>, SOL<\/a>, Solana<\/a>, Wallets<\/a><\/div>\n<\/div>\n

What do you think about the broken metadata issue tethered to FTX US-based NFTs? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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