Overview
Foundation marketplace is a platform built on the Ethereum blockchain that has NFT art listings. Is an innovative platform that was created for digital artists to be able to sell their art as NFTs.
Blockchains
Categories
Supported Languages
Pros & Cons
- Easy to use
- 10% Royalties
- Large number of creators.
- Selective NFTs
- Expensive fees
- Only one payment option
Full Review
Foundation marketplace is a platform built on the Ethereum blockchain that has NFT art listings. Is an innovative platform that was created for digital artists to be able to sell their art as NFTs.
Founded in 2020, Foundation is an art gallery that curates digital assets. The company has featured artwork from well-known NFT artists such as Kevin Roose, Pak, Jack Butcher, and more. Foundation allows people to buy and sell unique digital artwork but it is difficult to get an invitation to sell on the Foundation site, as it requires an introduction from one of their current artists.
With so much hype around the new creative economy, many marketplaces have been flooded with new mints. Foundation minimizes the types of products sold on their platform, allowing buyers to find potentially valuable art quickly.
What cryptocurrencies are accepted on Foundation?
Foundation is built on the Ethereum blockchain, which is widely used for non-fungible tokens.
Ethereum is the payment method used by Foundation. You are going to need a wallet with ETH to place a bid on your preferred piece of art. To use the platform, you will need to connect a web3 wallet, such as MetaMask, that runs on the Ethereum network.
NFTs categories available on Foundation
Foundation is an exclusive marketplace for digital art such as images, 3d art and video.
Foundation fees
The marketplace fee on Foundation is 5%, which is more expensive than the 2.5% several competitors charge. If you're reselling an NFT you bought, there's also the 10% in royalties paid to the original creator, meaning you'd get 85% of the sale amount.
Additionally, you will need to pay gas fees to the Ethereum network at the point of sale.
Foundation security
Foundation is a safe and secure place to buy and sell NFTs. It's a decentralized marketplace, meaning it doesn't store your NFTs on its platform. When you purchase an NFT, it's stored in your wallet.
When following direct links to the Foundation website, make sure that you are on the correct site before buying or selling. Scammers often copy a site and change one or two letters in the URL to steal your information or currency.
Bottom line
Foundation is a gallery with unique pieces and should be one of your points of entry into the market, especially if you’re an artist. But with high secondary market fees will likely turn off many collectors. Additionally, the platform has a smaller pool of collectors than it does artists, meaning that some artists will not have a following to captivate.
In any case, whether you are a collector or an artist, Foundation provides a strong secondary source for access to the NFT industry.