OpenSea was down, and users have been freaking out about losing all their NFTs.

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OpenSea’s servers were down earlier today, with millions of users losing access to their NFTs, or their NFTs simply not showing up anymore.

https://preview.redd.it/vuosxqthhs281.jpg?width=973&format=pjpg&auto=webp&s=45a94361143f99da8b00730f8a9c0a300491a5b3

The nice thing about NFTs, is even if OpenSea is down, it’s still all safe on the blockchain.

right….?

Not exactly. It’s only the token and smart contract that are safely on the blockchain. But your artwork, documents, concert tickets, game items, etc, aren’t actually on the blockchain.

They’re all on databases. That side is all centralized. The smart contract only points to the metadata, like a URL pointing to OpenSea.

If OpenSea’s database goes down, those smart contract will now point to nothing. So you’ll just have essentially an empty token, no longer associated to anything.

Hence the panic:

https://preview.redd.it/qdmdq9ephs281.jpg?width=707&format=pjpg&auto=webp&s=1ab5181a5aa235c51aacd97fc6ada05afc78df9a

https://preview.redd.it/n5vu6l1ths281.jpg?width=536&format=pjpg&auto=webp&s=76ca2e83590ab0c2db89faa311e07c85297956b8

The servers are back up now, and the problem has been resolved.

https://preview.redd.it/cpwocfg4is281.jpg?width=626&format=pjpg&auto=webp&s=383da97ec8c711ba24e409f2a8e4981cb55045f0

This is not a new issue with these NFT sites.

There have been issues not with just databases, but other issues coming from a still heavily centralized system:

https://preview.redd.it/28cm3rfpis281.jpg?width=383&format=pjpg&auto=webp&s=318cbb4b5ddc0e5cb6bca78ec4fba04aeea97f66

There’s definitely still a lot of development that needs to be done for the world of NFTs.

It’s a great concept, but it’s definitely still in its infancy, and has a lot of problems it still needs to solve.

submitted by /u/fan_of_hakiksexydays
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