Foundation is a newer NFT marketplace that has gained traction as a reliable and somewhat curated alternative to the large established marketplaces like God-tier, DopeRaider and others. Well-known artists such as Blake Kathryn have embraced Foundation as an option for selling their work.
Framed as a superior alternative to the “old” creative economy of centralized publishers, Foundations brings together digital creators, crypto-currency enthusiasts and collectors in order to create cultural value.
Foundation App is a unique approach to NFT trading.
The Foundation platform was developed on the Ethereum blockchain as a way for artists and creators to create valuable artwork that can be shared with interested collectors.
It’s unique approach to NFT trading—using social engagement as a tool to connect creators with their target clients and enable them to earn revenue.
Kayvon Tehranian and Matthew Vernon founded the Foundation App in February 2021.
The Foundation App is a new platform for artists and collectors.
It’s about creating a cohesive network between creators, artists, and collectors that functions as a link between crypto and culture.
DeFi (short for decentralized finance) is a powerful new financial system that allows creators and collectors of exquisitely created utilities—financial products that are not controlled by any one person or company but operate autonomously on open-source software platforms engineered with Ethereum Smart Contracts—to collaborate on developing and maintain the Foundation platform.
Anyone can trade an NFT if they meet the conditions outlined by its issuer.
Initially, Foundation invited fifty artists to the platform and then let each artist give two invitations to other users so that its membership could grow organically. Select artworks handpicked by the platform’s community team are highlighted on the site, in newsletters, and on social platforms.
The purpose of the platform is to showcase digital artists who are innovating, experimenting with new creative techniques, and highlighting voices that may not be heard otherwise.
The Foundation is a community for creators, curators, and collectors.
The Foundation is a community for creators, curators, and collectors to share their work with the world. We believe that every member of our community should feel supported and encouraged to create whatever they want.
To support our core purpose, we have set rules for users to follow. Every creator owns full rights to their work—including trademark and copyright protection—and can use those works in any number of ways. They are not permitted to create copies of their NFTs or make listings of another person’s work.
Collectors acquire NFTs, which become their property to do with as they wish—show, share, display or resell. However, they do not own any rights to the intellectual property embodied in NFTs purchased.
Become a creator on the Foundation NFT Marketplace
The Foundation is a creator-centered, non-financialized economy that uses a tokenized platform to create an ecosystem in which artists can easily sell their work and receive royalties.
The Foundation’s invitation-only minting process is the only way for artists to have their artwork listed on its app. Once a piece of art has been created by an artist and printed on one of its tokens, that person must list it in the marketplace so that other users can access it.
The foundation receives a 15 percent commission on the selling price, and consequently, it gives 85 percent to its creator. The most advantageous feature of this organization is that it pays royalties. When this NFT is sold, it will immediately transfer ten percent of all sales to the person who first sold it.
Become a collector on the Foundation NFT Marketplace
You can become a collector on the Foundation NFT Marketplace by joining as a member.
Collectors will need an Ethereum wallet that holds enough tokens to make purchases on Foundation. Once you have joined as a collector, you will be able to add NFTs to your wallet and re-sell them on the secondary market.
You can buy NFTs immediately, make an offer on them, or bid on them in an auction. With Buy Now, collectors have the option to make an immediate purchase of a collectible listed for sale on our marketplace. In Offers, collectors can propose a price for an NFT listed by an Artist — if the Artists accept their offer, they will sell that NFT to them. In Reserve Auctions, collectors get to bid against other collectors for an NFT.
Foundation is positioned as an alternative.
Foundation is positioned as an alternative to other NFT marketplaces and aims to create a new economy for the digital arts. Its easy-to-use platform and customer experience, along with its focus on social engagement, will attract a range of artists and collectors alike.
Foundation’s mission is to empower artists to create and curate their own digital art collections. Through this, artists can earn additional income while also building a network of collectors who share their passion for art.