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NFT platform Foundation announces permanent closure due to failed sales
ME News Report, April 17 (UTC+8), Ethereum NFT marketplace Foundation announced its permanent closure and ceasing operations. Founder Kayvon Tehranian stated that the platform was originally planned to be sold to a potential buyer to continue operations, but the deal was not finalized, and the company decided not to seek other acquirers. The related infrastructure has been shut down with no plans for restart. It is reported that in January of this year, Foundation transferred ownership to digital art company BlackDove, but after completing due diligence, BlackDove decided to develop the platform independently, ending their partnership. Foundation has facilitated approximately $230 million in primary sales, and its closure has once again raised market concerns about the sustainability of centralized NFT infrastructure. (Source: ODAILY)