Coinbase’s Ethereum Layer-2 network, Base, found itself at the center of controversy as it celebrated its 1 billionth transaction.
The celebration included the release of an NFT, which inadvertently copied the work of digital artist Chris Biron.
Basic reaches 1 billion transactions
On November 15, Coinbase-backed Base proudly announced that it had completed 1 billion transactions since its launch in August 2023. This milestone was achieved in just over a year, a remarkable achievement compared to established networks like Bitcoin, which took more than 15 years to build. achieve comparable numbers.
Base’s rapid rise is no surprise. The network has quickly become the fastest growing Ethereum Layer-2 solution, surpassing competitors such as Optimism and Arbitrum. A recent report from CoinGecko ranked Base as the second most popular blockchain in 2024, with the network now attracting nine times more interest than its nearest Layer-2 competitor, Arbitrum.
“The base ecosystem has seen its share of investor interest increase by more than five times since the first quarter, increasing the Tier 2 ecosystem’s ranking from seventh to second and overtaking the Tier 1 Ethereum ecosystem . This also means that the Base ecosystem now attracts nine times more interest than the next most popular layer 2 ecosystem Arbitrum,” said Coingecko.
Total value of base locked. Source: L2BeatIndustry observers have attributed the network’s rapid growth to robust support and resources from Coinbase, the $76 billion cryptocurrency exchange that Base operates. Furthermore, Coinbase’s brand power as the largest cryptocurrency exchange in the US has undoubtedly contributed to Base’s success as well.
NFT controversy and apology
To commemorate the 1 billion transaction, Base has released an NFT. However, the artwork bore a striking resemblance to a creation by digital artist Chris Biron, who accused the network of copying his work without credit. Biron claimed that Base had already made more than $36,000 in profits from the NFT at the time of his complaint.
“I usually like it when someone remakes/remixes my work. But when a company worth $76 billion copies it, sells it and gets over $36,000 in profit without me benefiting from it, it feels less fun,” Biron said.
In response to the backlash, Base lead developer Jesse Pollak issued a public apology, explaining that the incident was unintentional. The Coinbase-backed network also admitted that its artwork unintentionally reflected Biron’s work and promised to improve its processes to avoid similar issues in the future.
“Creativity often draws from a well of shared inspiration, and in designing this piece we inadvertently mirrored the work of another artist without attribution. We are sorry, and we will send 100% of the proceeds to Biron,” wrote Base .
Biron appreciated Base’s response, calling it a “class act” and praising the team for handling the situation respectfully.