NFT Platform Foundation Formally Shuts Down After Hosting Snowden Auction

Foundation was a prominent Ethereum digital-art platform during the 2021 NFT boom, facilitating more than $230 million in primary-market transactions. On April 16, 2021, Edward Snowden’s “Stay Free” sold for 2,224 ETH, or about $5.4 million, underscoring the platform’s former market influence.

Founder Kayvon Tehranian announced on April 15, 2026, that Foundation would formally shut down after a proposed acquisition by digital-art company Blackdove fell through. The platform’s infrastructure is now offline. Foundation has pledged to maintain its IPFS gateway until April 27, 2027, and urged users to back up their media and metadata. It said instructions for retrieving assets in active listings would be released later.