Overview
Foundation is a curated NFT marketplace focused on digital art with enforced creator royalties. Our analysis reveals better creator protections than open marketplaces, with 10% royalties enforced on secondary sales. However, the curation model limits accessibility and standard platform liability limitations apply.
Key Concerns
- Curation Barriers: The invite-only or application-based model limits accessibility for new creators.
- 5% Platform Fee: Higher than some competitors like OpenSea (2.5%) on primary sales.
- Ethereum Only: Limited to Ethereum blockchain, excluding lower-cost chains for smaller creators.
- Standard Liability Disclaimers: Platform disclaims responsibility for smart contract issues and market volatility.
- Mandatory Arbitration: Disputes must be resolved through binding arbitration.
Positive Aspects
- Enforced Creator Royalties: Foundation enforces 10% creator royalties on all secondary sales - a significant advantage over platforms with optional royalties.
- Curated Quality: The curation model helps maintain quality and potentially better pricing.
- Art-Focused Community: Dedicated to digital art with community features for artists.
- Clear Fee Structure: Transparent 5% platform fee with 10% creator royalties.
Data Collection Summary
Foundation collects wallet addresses, transaction history, profile information, social connections, and browsing behavior. Data is used for platform operation, community features, and fraud prevention. Artist profiles and social features involve additional data sharing within the platform community.