Ethereum NFT platform Foundation shuts down after failed Blackdove sale

Foundation is shutting down after a failed sale to Blackdove, having processed about $230 million in NFT primary sales since its launch in 2021.

Foundation, one of the better-known Ethereum-based non-fungible token (NFT) marketplaces of the 2021 boom, is shutting down after the sale that was supposed to keep it operating fell apart.

Kayvon Tehranian, Foundation’s founder and CEO, took to X on Wednesday to announce the marketplace’s closure following a failed acquisition by the digital art distribution platform Blackdove.

Although Tehranian did not directly mention Blackdove, he said the original goal of the sale was to ensure the platform would continue operating under new ownership. “That’s no longer possible,” he said, adding that Foundation is not in a position to bring the marketplace back online.

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