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Foundation is one year old

Foudation App Anniversary

Foundation is an open source platform dedicated to the development of a new creative economy—a world in which artists may utilize the Ethereum blockchain to value their work in totally new ways, as well as to forge greater bonds with their fans.

In order to build a network of mutual assistance between creators and collectors, the Foundation brings together cryptography and cultural heritage. A community-driven road is being forged, they share our tools with a fast increasing group of developers who are eager to help us shape the future. Everybody and anyone who is interested in the future of digital expression is welcome to participate.

Since the debut in February 2021, creators have earned a total of… 51,599 Ethereum or $149,500,760.55

Creators can join Foundation. Unlocking the artists profile and minting NFTs requires submitting their artworks to a decentralized peer-to-peer storage network after they’ve accepted an invite. It will then be an NFT that they may price in ETH and sell on Foundation in an auction or private. A primary market sale yields a creator 85% of the selling price. Unconditional 10 percent royalty paid to inventor if NFT is listed and collected again on secondary market.

Artists also can join Foundation. Create a profile to start collecting NFTs on Foundation. All Ethereum transactions are paid in ETH. Artists set a reserve price for NFTs, and a 24-hour countdown begins following the initial bid. A late offer extends the auction by 15 minutes. It appears when you win an auction and claim NFT. A new method to appreciate digital art and promote your favorite artists may be created.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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