What Is Foundation NFT: Exclusive Invite-Only NFT Marketplace for Artists and Collectors

Foundation is an invite-only NFT marketplace for creators and collectors. Launched in February 2021, Foundation is one of the largest NFT marketplaces on the web. So far, Foundation has earned 39,000 ETH ($160 million) for its creators. The platform was host to notable NFT auctions such as Edward Snowden’s first NFT and the Nyan Cat animation.

NFT creators must get an invite code to mint Foundation NFTs. Invites can only be sent by members who have already sold at least 1 NFT on the platform. Collectors can bid on auctions without restrictions. Foundation users need a Web 3.0 wallet such as MetaMask to transact on the platform. Foundation was built for the Ethereum (ETH) blockchain and all NFTs are hosted on Ethereum.

What Is Foundation?

Foundation is an Ethereum-based NFT marketplace that launched in 2021. It’s a platform that aims to build a new creative economy where creators can use the Ethereum blockchain to value their work in entirely new ways and build stronger connections with their supporters.

Foundation currently has 260,000 registered members and over 100,000 NFTs for sale. All NFTs are sold using ETH and users must possess ETH in their wallets to bid on an auction. There are currently three types of NFTs offered on the Foundation platform: images, videos, and 3D artwork.

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