The site crashed because so many individuals attempted to join the waiting list for Coinbase’s new NFT platform.
Sanchen Saxena, Coinbase’s Vice President of Product, said on Twitter, “We are getting a LOT of signups — so grateful for all your interest.” “Our servers are experiencing abnormally high loads, and our team is working tirelessly to resolve the issue. Please return soon!”
Currently, 930,263 people are waiting to join Coinbase’s next NFT marketplace, which is set to debut in late 2021. Currently, only individuals over the age of 18 who live in the United States are eligible to join the queue; however, the crypto exchange intends to expand to additional nations in the future.
Users will be able to mint, display, and discover NFTs on Coinbase’s NFT platform. It will also have self-custody wallets and will not need the platform’s brokerage customers to do know-your-customer (KYC) checks.
Coinbase is the third exchange to announce the introduction of an NFT platform this week. On Monday, FTX.US debuted the Solana-based NFT platform, while Binance unveiled its own platform, Binance NFT.
