What is Foundation App, one of Ethereum's most promising NFT Marketplaces?

Updated on 20 August, 2022 2:56 PM
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    Heard of exhibitions where artists sell their craft pieces, right? Many of you might have even attended a few exhibitions or auctions of this type. So do we have artists in the digital space, and if we do, how do they exhibit their creations on a digital platform without the fear of them being misused? If everything is undergoing a digital revolution, then why not art? We have artists who demonstrate their creations safely in the digital space. The digital world is a great space to exhibit your art pieces as the barriers of geography and demographics do not bound it, and people can freely display their content (as long as it is not something particularly offensive). Art can reach millions through the digital world and connect people by a common string.

    Artists secure their digital assets through NFTs. NFTs are non-fungible tokens people buy to ensure their digital assets from copyright issues. Non-fungible means anything that does not hold an identical value when replicated.

    Foundation (FND) NFT is one platform where digital assets are traded. It is another fantastic NFT marketplace hosted on the decentralized Ethereum platform. It also serves as a motivation platform for budding artists, who can follow the footsteps of earlier successful crypto artists and carve their own stories of success.

    How does the platform work?

    If you are an artist searching for an avenue to exhibit your creations, you can peacefully stop your search now, as Foundation NFT is one of the best places where you can showcase your talent hassle-free. The artists out there might be already excited by now. Do not worry, as we will walk you through this platform's features so that you can have a great user experience.

    The platform has four supporting pillars, namely:

    1. The Digital Artists
    2. The Collectors
    3. The Community
    4. The Developers

    The Digital Artists

    They are invited to the platform by Foundation users, either via a referral or voted by the community members. This is a unique element of FND that you will not find in any other NFT marketplace.

    The Collectors

    As the term suggests, these people collect the art NFTs. They are the controllers of the entire Foundation ecosystem. Since this marketplace is hosted on the Ethereum platform, the collectors need to own a Web 3.0 wallet and ETH coins. Through the app, they can bid their NFTs with other users.

    The Community

    They comprise both the collectors and the artists. They are known as the Foundation of the ecosystem. They are essentially the social media populace of the ecosystem and consist of people who are interested in the features of the ecosystem. They come through various social media platforms such as Twitter, Instagram, Discord, etc.

    The Developers

    They use “API” (Application Programming Interface) to conduct successful transactions across this decentralized ecosystem. Through API, they can modify different features of the Foundation marketplace, such as end time, prices, sales data, profiles, etc.

    Features of the Foundation marketplace

    • Shows the current bid for a particular NFT.
    • It shows the time remaining for a particular auction to end.
    • Gives credit to the creator by displaying his name beside his creation.
    • Beautiful UI, with every NFT displayed in its appropriate segment. Hosts various segments such as Offramps, The Solitary 321, Beyond the Dream, Everyday Life, Body in Open Space, etc.

    Future Goals of Foundation App

    • The development of DAOs (Decentralized Autonomous Organizations) is one of the primary focuses of the platform so that it can give its users voting rights over essential proposals.
    • Facilitating an open market for the exhibition of digital creations.
    • Featuring of more mediums such as music, AR/VR (Augmented Reality/Virtual Reality), Photography, etc.

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