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Wow, the Foundation marketplace NFT is completely shut down. It seems founder Kayvon Tehranian already tried to sell the platform to others but failed, and finally decided to shut it down. The infrastructure has been turned off, with no plans to come back.
Interestingly, at the beginning of the year, he transferred ownership to BlackDove (a digital art exhibition company), but it turns out BlackDove, after a deep dive, felt it was more worthwhile to create their own marketplace rather than continue with Foundation. So, the collaboration ended.
Since launch, Foundation has facilitated sales worth $230 million, including auctions from famous artists like Jen Stark, James Jean, and even Edward Snowden. Now, everything is closed. This serves as a reminder that NFTs stored on centralized infrastructure are very risky. Many NFT marketplaces have already collapsed, which makes people more skeptical about this sector. Platforms like x2y2 and others have also had similar dramas. What do you think, do you still trust centralized NFT marketplaces?