NFT ‘Matrix Resurrections’ website crashes after overwhelming demand

[UPDATE, 12/2: Nifty’s late Wednesday evening said it re-opened the purchase queue for the “Matrix” NFTs after completing an audit of its platform. About an hour later, the company said it had officially sold out. “We know it wasn’t the experience we’d hoped for, but we’re happy to see so many of you able to mint your base avatar,” Nifty’s said.]

Hundreds of thousands of fans lined up on Tuesday to purchase digital collectibles related to the upcoming “The Matrix Resurrections” movie at $50 a piece – and quickly overwhelmed Nifty’s systems, the non-fungible token (NFT) market hosting the sale, prompting the company to suspend the sale.

Less than an hour after the “Matrix” NFT site opened at 1 p.m. ET on Tuesday, Nifty’s paused the purchase queue briefly before restarting it, then paused it again, keeping users in limbo at night. As of noon ET Wednesday, more than 330,000 users were waiting in line on Nifty’s website for a chance to purchase “Matrix” NFTs.

Earlier this month, Warner Bros. announced it would mint 100,000 unique NFTs of “Matrix” inspired avatars — available for $50 each on Nifty’s site — a natural tie-in to the film franchise’s virtual world vanity and designed to promote the December 22 release of “Matrix Resurrections.”

As it turns out, the demand for the first drop of the “Matrix” avatars on November 30 turned out to be more than Nifty could handle. In a Nifty’s update posted on social media On Tuesday evening, the company said that “even if the queue continues to be interrupted, we want to assure you of certain things – we are very actively working on a solution, with our partners”.

According to Nifty’s, once it reached capacity, “we ran into infrastructure issues and our team is actively working on a solution with our cloud provider.” The company recommended those still waiting in line to purchase “Matrix” NFTs to add their email to the “Please let me know when it’s my turn” field on its website, “so you know precisely when you have come to the front of the line.

On its customer support site, Nifty’s stated, “Due to such high traffic, there may be a delay with the Matrix Avatar NFTs appearing in your account. Please allow additional time (up to 8 hours) to determine if your NFTs have arrived successfully.

A representative from Warner Bros. referred the requests to Nifty’s. In a statement, a Nifty spokesperson said, “The Matrix fans are even more passionate than expected and as a result demand has exceeded our expectations. We are working to get back up and running as soon as possible so that anyone who was excited to get a Matrix NFT can do so. The company also plans to “catch up with fans and give all Nifty users who lined up yesterday for a Matrix Avatar a free ‘NFT Matrix glitch’,” the rep added.

NFTs offer a way to authenticate ownership of digital content, using distributed blockchain technology, similar to real-world collectibles like baseball cards or physical artwork, and Warner Bros. is part of growing number of entertainment companies looking to tap into the trend.

Part of the appeal of the “Matrix” NFTs was the two-stage release: the November 30 launch features “base” avatars resembling regular people trapped in the Matrix (on the top corner left), followed by a second phase beginning on December 16 in which owners of the base avatars will have a choice – either to take a “blue pill” and have their avatar remain locked in the matrix, or to take a “blue pill” red” and transform their avatars into resistance fighters unplugged from the Matrix (top right). All “Matrix” NFTs are created using Epic Games’ MetaHuman Creator tool.

Initially, Nifty’s said it was limiting initial avatar purchases to 25 per account per day. About two hours after the NFT sale opened, the company lowered the buy limit to 5 per account due to overwhelming demand. According to Nifty’s, approximately 5% (5,000) of NFTs are “retained from the initial sale for use in community activities, giveaways, customer service resolutions, and for promotional purposes throughout the many phases of the project.”

Lana Wachowski’s ‘The Matrix Resurrections’ is the fourth film in the sci-fi franchise, 18 years after the last installment, ‘The Matrix Revolutions’. It’s set to hit theaters in the US and on HBO Max on December 22. The film reunites original stars Keanu Reeves and Carrie-Anne Moss in the iconic roles they made famous, Neo and Trinity.

About Florence L. Silvia

Check Also

Market Share of Matrix Converters 2022-2030 | Key Players – Fuji Electric, Yaskawa, ABB, Mitsubishi Electric – The New York Irish Emgirant

New Jersey, United States,- The research study on the Global Matrix Converters Market provides you …