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Just saw Foundation is shutting down for good. Pretty wild considering how prestigious that marketplace was during the nft market boom in 2021. Edward Snowden's piece alone went for like $5M—that single sale basically defined what Foundation represented to the art world.
The acquisition by Blackdove was supposed to save it, but the deal fell through. CEO Kayvon Tehranian confirmed it on X yesterday. They're bringing the platform back online briefly so people can delist their NFTs, but that's it.
Honestly, Foundation's not alone in this collapse. Nifty Gateway shut down, MakersPlace is gone, X2Y2 basically abandoned NFTs entirely. The nft market itself has cratered back to 2021 pre-hype levels. OpenSea's sitting on like 73% of all marketplace activity now—winner takes most, I guess.
The good news? Your NFTs aren't actually lost. Foundation was non-custodial, so everything's still on the blockchain. You just lose the marketplace interface. But yeah, it's a brutal reminder of how fast things move in this space. The nft market consolidation is real.