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Ethereum NFT marketplace Foundation permanently closed after failed sale transactions
Deep Tide TechFlow News, April 17, according to The Defiant, the NFT marketplace Foundation has permanently shut down after a failed transaction to sell to digital art display company BlackDove. The platform infrastructure has been taken offline, and there are no plans to relaunch.
Foundation founder Kayvon Tehranian stated that the company initially hoped to continue operating through the sale, but the deal was not completed, and the team also saw no need to continue seeking buyers. Foundation had facilitated approximately $230 million in primary sales.
The report said that after completing the operational handover and comprehensive due diligence, BlackDove decided to shift towards building its own proprietary marketplace. Foundation also stated that it will continue to provide one year of fixed services for media and metadata hosted on IPFS, and users will need to cancel their orders and retrieve their NFT assets themselves.