Glossary and Articles

What is Foundation

Foundation is an NFT platform focused exclusively on art. NFTs sold on the platform are digital assets stored on IPFS and metadata written into the Ethereum blockchain. An artist who publishes on the Foundation can aggregate their work into a collection. Standard sales are made through auctions. It is initiated with the first bid and lasts for 24 hours. The platform's commission was initially 15%. Now, it is 5%. Royalties for NFT created at Foundation are 10% for the artist.

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