FTX NFTs

The FTX collapse highlighted many flaws in the crypto industry. Now, the effects of the FTX debacle have broken into the nonfungible token (NFT) space with users unable to view their FTX-hosted NFTs.  In a tweet, Solana engineer jac0xb.sol pointed out how the metadata of FTX-hosted NFTs now points to a restructuring website that gives out information about bankruptcy proceedings. According to jac0xb.sol, the NFTs minted on FTX were hosted using a Web2 application programming interface (API), resulting in images not showing. Example of an NFT hosted by FTX. Source: Magiceden.io After the FTX exchange filed for bankruptcy, the FTX.us domain was entirely redirected to the bankruptcy proceeding page. Because of this, NFT owners are still able to see that their NFTs exist. However, images ...