"Foundation processed roughly $230 million in primary sales since its 2020 launch, but has now shut down permanently after Blackdove exited the acquisition deal."
"Blackdove's acquisition of Foundation Labs, Inc. was intended to create a comprehensive digital art solution, but the deal collapsed due to a shift in company direction."
"On April 15, 2026, Blackdove confirmed the reversal of the acquisition and announced the return of management to Kayvon Tehranian for an orderly wind-down."
Foundation, an Ethereum-based NFT marketplace, has permanently closed following the collapse of its acquisition by Blackdove. The marketplace processed approximately $230 million in primary digital art sales since its launch in 2020. Blackdove initially aimed to integrate Foundation into its digital art solutions but decided to pursue its own marketplace after due diligence. Artists and collectors have a one-year window for IPFS pinning, and Foundation's team is developing a tool for NFT retrieval.
Read at news.bitcoin.com
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