- Buy and sell NFTs of art
- Simple to use
- Fantastic for making NFTs
Foundation Marketplace Review: An Online Art Exhibition for Artists and Collectors
For anyone who are passionate about digital art, including producers and collectors, Foundation is an NFT marketplace. Our marketplace provides a huge variety of art NFTs and guarantees that the original artists receive royalties on each transaction. But, the fees might add up, and as this is an art market, there aren’t any other NFTs to be found here. Read our assessment of the Foundation marketplace for a detailed analysis of its benefits and drawbacks.
TYPES OF NFTS
- Digital art including images, videos, and 3D art
FEES
- 5%
BLOCKCHAIN
- Ethereum
PLATFORM FEATURES
- Services: Buy, sell, mint
- Supported Wallets: Metamask and wallets set up through WalletConnect
- Payment Methods: Ethereum (ETH)
More
- Affordable, high-end NFTs with an emphasis on the arts
Pros:
- Buy and sell NFTs of art
- Simple to use
- Fantastic for making NFTs
Cons:
- Exorbitant fees
- Just one payment choice
Complete review of the Foundation marketplace
Who this NFT marketplace is best suited for: Fans of digital art who wish to buy and collect NFTs or make and sell their own.
Foundation marketplace: What is it?
NFT art listings can be found on Foundation marketplace, a platform created on the Ethereum blockchain. Digital art can be purchased, or users can mint and sell their own NFTs. On Foundation, there are various selling options:
- Purchase Now: For that price, the NFT is currently available for purchase.
- Offers: Customers can make the seller offers.
- Auctions with Reserve Prices: An NFT auction where the reserve price is the lowest the seller will accept.
- Private Sales: If a seller has a particular buyer in mind for a piece, they may submit a proposal for a private sale.
Top benefits
Buy and sell art NFTs
Foundation is one of the greatest possibilities if you’re seeking for art NFTs. This market draws tens of thousands of artists because to its emphasis on digital art. You can look through and buy a range of original photos, films, and 3D objects. Foundation is an excellent area for artists to discover customers because of its emphasis on the arts.
Simple to use
As you might anticipate from a digital art gallery, Foundation excels at design. It is simple and doesn’t overburden you with choices. Even if you’ve never used the platform before, it’s simple to locate the collections, look up popular creators and items, browse the marketplace, and purchase NFTs you like.
Great for minting NFTs
Both the foundation’s organisation and its fee schedule might be advantageous to artists. 95% of the first sales go to the original creators, and Foundation keeps 5% as a marketplace fee. Moreover, 10% of each secondary sale goes to the original creators. You will receive 10% of the sale price if someone purchases your NFT and then sells it.
You can split revenues if an NFT was a group project, according to Foundation. When minting NFTs, you can establish a Split and include up to four recipients’ wallet addresses as well as the proportion that will go to each of them.
Areas for Improvement
Exorbitant fees
The 2.5% that some of Foundation’s rivals charge is less expensive than the 5% marketplace fee on Foundation. You would receive 85% of the sale price if you were to resale an NFT you had previously purchased after deducting the 10% royalties paid to the original inventor.
Only one payment option is available
To make purchases on the Foundation NFT marketplace, you need Ethereum. The good news is that Ethereum is simple to purchase because it can be found on nearly all of the leading cryptocurrency apps. However, several NFT marketplaces now allow card payments and other forms of cryptocurrencies, which simplifies the purchasing procedure.
Potential Alternatives:
- If you want to purchase various NFTs, Mintable provides a huge variety of NFTs available in a variety of different categories, such as music, collectibles, game items, and digital real estate. For collectors seeking for a little bit of everything, it’s like a one-stop shop.
- If you wish to cut costs, OpenSea has cheap rates for its customers as it just levies a 2.5% transaction fee. Also, this NFT marketplace for beginners has one of the broadest selections available.
Platform features
According to Foundation, its mission is to create a new creative economy in which artists may use the Ethereum blockchain to engage more closely with their supporters. A guide to every feature is provided here.
Services
The Foundation platform can be used in one of two ways: as a collector or as a maker. You can look through and buy digital art NFTs as a collector. You can mint and sell NFTs as a creator.
Blockchains
The most popular blockchain for NFTs, Ethereum, serves as the foundation for Foundation.
Supported wallets
Foundation supports wallets created using WalletConnect or Metamask. You may use over 100 different blockchain wallets, including Trust Wallet, Alpha Wallet, and Ledger wallets, with Foundation using WalletConnect.
Payment methods
The Foundation’s preferred method of payment is Ethereum. Since Ethereum is one of the most popular cryptocurrencies, you may buy it on most significant cryptocurrency exchanges and add it to your wallet.
Fees
On NFT sales, Foundation levies a 5% marketplace fee. A 10% commission is also added to secondary sales and given to the NFT’s original designer. Here’s how it operates:
- You get 95% of the final sales price if you mint an NFT and sell it; this is referred to as the original sale. Foundation charges a 5% marketplace commission.
- Selling an NFT produced by another party is regarded as a secondary sale, and you are compensated with 85% of the final sales price. The foundation keeps its 5% marketplace cut, and 10% goes to the original author.
What NFTs are available for purchase on Foundation Market?
Foundation provides NFTs for digital art. Images, films, and 3D artwork are all for sale. In its NFT showroom, there are both primary sales鈥擭FTs that are being sold by the original creator鈥攁nd secondary sales鈥擭FTs that are being sold by someone else.
Is it safe to use Foundation Marketplace?
A secure marketplace to buy and sell NFTs is Foundation. Since it just serves as a marketplace, it doesn’t keep your NFTs on its system. An NFT is kept in your wallet after purchasing.
Scams are widespread because NFTs are so well-liked and can sell for such high prices. Nearly every significant NFT marketplace deals with fake NFTs with copied content. Like other markets, Foundation allows users to report NFTs, collections, and profiles and deletes fake NFTs when it finds them.
The foundation market is ideal for you if:
- You are a digital art collector looking to expand your collection of NFTs.
- You wish to create your own art NFTs and list them online to reach a broad market.
- Buy and sell NFTs of art
- Simple to use
- Fantastic for making NFTs
- Exorbitant fees
- Just one payment choice