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Wow, is Foundation permanently closed? This is quite shocking news. So the founder of the NFT marketplace, Kayvon Tehranian, has finally decided to completely shut down. Initially, they tried to find a buyer to continue operations, but the deal didn't go through. They even transferred to BlackDove in January, but ultimately, that party also chose to create their own platform.
What's interesting is that during its operation, Foundation facilitated around $230 million in primary transactions. That's quite a lot. But this serves as a reminder about the sustainability of centralized NFT infrastructure—NFT founders can also decide to leave at any time. So what happens to the collections that were there?