Ethereum NFT marketplace Foundation permanently shuts down due to failed sales transactions
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.
