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There is news that the Foundation NFT platform is ceasing operations. It is said that this decision was made because the sale fell through, and honestly, I am a bit shocked. Earlier this year, I was in the process of a transaction with someone, but it ultimately did not go through.
The good news is that it is a non-custodial platform. Even if the front-end service is discontinued, the NFT assets held by users remain on the blockchain and they can control them. I think this is an important aspect of NFT news. Foundation has announced that it will continue metadata anchoring for the next year to support users in safely recovering their assets.
NFTs registered on the marketplace are stored in smart contracts, and the Foundation team plans to provide options for deregistration and recovery, so that’s somewhat reassuring. Recent NFT news highlights once again how significant platform risk is. Even in such situations, the importance of a non-custodial structure is becoming more apparent.