NFT marketplace Foundation to shut down after sale fails

NFT marketplace Foundation has announced it will cease operations and begin liquidation proceedings after a planned sale fell through. The Foundation explained that it had reached a sale agreement earlier this year with a buyer who intended to continue operating the platform, but the deal was ultimately unsuccessful. "Given the current market conditions, we concluded that finding another buyer was not feasible and have since shut down our infrastructure," the company stated. The platform operates on a non-custodial basis, meaning user assets are stored on-chain. A procedure for retrieving NFTs listed on the marketplace will be announced at a later date.