Ethereum NFT marketplace Foundation has announced its permanent closure and cessation of operations. Founder Kayvon Tehranian stated that the platform was originally planned to be sold to a potential buyer to continue operations, but the deal fell through, and the company decided not to pursue any further acquisitions. The infrastructure is now shut down and there are no plans to restart it. It is understood that in January of this year, Foundation transferred ownership to digital art company BlackDove, but the latter decided to develop the platform independently after completing due diligence, ending the partnership. Foundation facilitated approximately $230 million in initial sales, and its closure has once again raised concerns about the sustainability of centralized NFT infrastructure.