News linked to both this project and an event.
According to The Defiant, the NFT marketplace Foundation has permanently shut down following the failed sale to digital art display company BlackDove. Its platform infrastructure has been taken offline, and there are currently no plans to relaunch it. Foundation’s founder, Kayvon Tehranian, stated that the company had originally hoped to extend its operations through the sale, but the deal fell through—and the team concluded there was no need to continue seeking a buyer. Foundation previously facilitated approximately $230 million in primary sales. The report notes that BlackDove, after conducting comprehensive due diligence following operational handover, decided instead to build its own proprietary marketplace. Foundation also announced it will continue providing a fixed one-year service for media and metadata hosted on IPFS; users must manually cancel their listings and withdraw their NFT assets.
Odaily News The Ethereum NFT marketplace Foundation has announced its permanent shutdown and cessation of operations. Founder Kayvon Tehranian stated that the original plan was to sell the platform to a potential buyer to continue operations, but the deal fell through. The company has decided not to seek other acquirers, and the related infrastructure has been shut down with no plans for a restart.It is reported that in January of this year, Foundation transferred ownership to the digital art company BlackDove. However, after completing due diligence, BlackDove decided to develop its own platform, leading to the termination of the collaboration. Foundation facilitated approximately $230 million in primary sales cumulatively. Its closure has once again drawn market attention to the sustainability of centralized NFT infrastructure.
According to documents disclosed on April 7, 2026, by the U.S. District Court for the Central District of California, Yuga Labs and defendants Ryder Ripps and Jeremy Cahen have reached a settlement agreement resolving all claims in Case No. 2:22-cv-04355. The case originated in 2022, when Yuga Labs alleged that the two defendants had issued counterfeit “RR/BAYC” NFT collections mimicking the Bored Ape Yacht Club (BAYC), constituting trademark infringement. The parties will shortly file with the court a proposed consent injunction—a condition of the settlement—marking the formal conclusion of the case.