NFT platform Foundation will gradually cease operations due to a failed sale.

CoinFeed reported on April 17th that Kayvon, co-founder of the NFT platform Foundation, announced on the X platform that the platform will gradually cease operations due to a failed sale transaction. Foundation reached a sale agreement with a buyer earlier this year, but the transaction failed to complete as expected, and given the current market conditions, the team believes there are no other worthwhile buyers. The platform's infrastructure has been gradually shut down and cannot be restored online. Foundation emphasized that it is a non-custodial platform, meaning that even if the front-end service stops operating, users' assets remain under their own on-chain control. Foundation plans to continue anchoring the underlying media and metadata of Foundation-issued assets over the next year and encourages the community to anchor the assets they are interested in during this period.