Foundation Shuts Down NFT Marketplace After Failed Sale
Cointelegraph
Ethereum NFT marketplace Foundation is closing permanently after a planned acquisition by Blackdove failed to materialize.Summary
The Ethereum-based NFT marketplace Foundation has announced its closure following the collapse of a planned acquisition by the digital art platform Blackdove. CEO Kayvon Tehranian confirmed the platform cannot remain operational, as the deal intended to secure its future did not proceed. Foundation, a prominent site during the 2021 NFT boom, facilitated over $230 million in sales for notable artists and creators. The shutdown reflects a broader trend of market consolidation and declining liquidity in the NFT sector, with other platforms like Nifty Gateway and Rodeo also recently ceasing operations as trading volumes continue to wane from their 2021 peaks.
(Source：Cointelegraph)