NFT marketplace Foundation announces permanent closure following unsuccessful sale

BlockBeats News, April 17th, according to The Defiant, the Ethereum-based NFT marketplace Foundation is shutting down permanently after the failed acquisition by the digital art display company BlackDove.

Founder Kayvon Tehranian announced this decision on X and explained that the sale of the platform to "a buyer who intended to continue operating the platform" fell through, and the company believed it was no longer necessary to seek a new buyer.

Tehranian wrote: "Our goal in moving forward with the sale was always to keep Foundation alive. However, that is no longer feasible. As part of our shutdown process, the infrastructure has been taken down, and we are unable to bring the platform back online."