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#CryptoMarketSeesVolatility
Failed Acquisition, NFT Foundation Platform Officially Closes Permanently
The era of the NFT Foundation platform officially ended tragically. After the proposed acquisition by Blackdove was declared collapsed, Foundation CEO, Kayvon Tehranian, confirmed that the legendary Ethereum-based marketplace had ceased operations permanently as of Friday (17/4).
The failure of this rescue deal forced the Foundation to shut down completely due to the platform's inability to sustain itself independently. Although the main infrastructure is already offline, the development team is preparing a special (retrieval tool) so users can still delist NFTs and secure their assets still stuck in smart contracts. Additionally, media data on IPFS will remain pinned for the next year to give artists time to back up.
The closure of the Foundation becomes a symbol of increasing pressure on independent NFT marketplaces in 2026, following the footsteps of Nifty Gateway and MakersPlace, which had fallen earlier. Since its heyday in 2021, Foundation has facilitated primary sales worth more than $230 million, including historic works by Edward Snowden. Now, the dominance of the NFT market is increasingly concentrated among giants like OpenSea and Blur, which control the majority of activity in the sector.