Rainbow Cat Meme NFT Art Platform Foundation Closes Down, Transfers Ownership to Blackdove

Blue-chip NFT Art Platform Foundation Announces Transfer of Ownership to Digital Art Publishing Company Blackdove, Future Operations to be Handled by Them. Foundation States that this decision aims to set a new direction for platform development. After the transition, the platform’s core values and artists’ rights will remain unchanged.

Foundation App was one of the most well-known blue-chip platforms during the NFT boom era.

The founder of Foundation is Kayvon Tehranian. He initially started as an experimental attempt to explore whether artists could showcase their works and generate income through the internet and blockchain. Since its establishment, the platform has set notable sales records for many artists. Foundation also connects digital art with issues of press freedom, civil rights, and public interest through project auctions, expanding the social impact of art.

Throughout its development, Foundation facilitated over $230 million in primary market transactions for global artists, establishing its position in NFT art history. The platform has hosted landmark NFT sales for renowned blue-chip artists such as Jen Stark, James Jean, and Reuben Wu, setting transaction records at the time. Additionally, Foundation has repeatedly combined digital art with public issues, including hosting auctions initiated by Edward Snowden to raise funds for the Freedom of the Press Foundation, and projects like artist ix shells’ fundraising for the Tor project. These initiatives demonstrate that digital art can serve not only as a creation and collection medium but also as a platform connecting culture, journalism, civil liberties, and public interest actions.

Preserving Rainbow Cat Meme Culture on the Blockchain

Besides focusing on contemporary digital art creation, Foundation also leverages blockchain to hype internet memes. The Rainbow Cat (Nyan Cat) and other iconic meme works have achieved excellent auction results on Foundation. Tehranian publicly stated that Foundation will incorporate culture into a longer-term artistic context, establishing clear ownership and provenance records. For him, these accumulated assets are among the most valuable for Foundation and form the core spirit to be properly continued during the platform’s handover.

Foundation Continues Operations and Transfers to Blackdove for Digital Subscription Licensing

Tehranian mentioned that Foundation needs a team capable of long-term commitment and understanding digital culture. Blackdove aligns perfectly with Foundation’s vision. Blackdove presents digital art through physical screens and public displays. During the transition, Foundation’s smart contracts, tokens, and artist royalty mechanisms will remain unchanged. Ownership and provenance records will not be affected. Additionally, Foundation will collaborate with Pinata to ensure artists and collectors can feature their works prominently. Artists on Foundation will continue to be promoted by Blackdove, attracting collectors through digital subscription licensing.

This article about Rainbow Cat Meme NFT Art Platform Foundation Closing and Transferring Ownership to Blackdove first appeared on Chain News ABMedia.