Ethereum NFT platform Foundation has announced its shutdown following the failed sale to Blackdove. Launched in 2021, it facilitated over $230 million in primary sales for artists worldwide, including Jen Stark, James Jean and whistleblower Edward Snowden. NFT activity collapsed after peaking in 2022, with the sector’s market cap falling back to pre-2021 levels by February 2026. Foundation joins a growing list of NFT platforms that have shut down or pivoted away, including Mint Blockchain, Nifty Gateway, MakersPlace and X2Y2. OpenSea remains dominant with over 73% market share despite the broader sector decline.
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