Digital art platform Blackdove has abandoned the acquisition of the NFT platform Foundation, and ownership has been returned

Digital art platform Blackdove announced the abandonment of its acquisition of the NFT platform Foundation. It stated that the purpose of acquiring Foundation was to improve Blackdove's software infrastructure. Due to the rapid progress of the acquisition, Blackdove only conducted due diligence after the operational handover was completed, but later realized that developing its own platform was the best direction, so it abandoned the acquisition. Currently, Foundation has been returned to its founder Kayvon Tehranian and the foundation team.

Previously, Blackdove announced the acquisition of Foundation on January 28, 2026. Foundation was established in February 2021 and is an NFT platform focused on high-quality digital art, known for its curatorial model, emphasizing exclusivity, artistic quality, and creator empowerment, primarily serving digital artists and professional collectors. It has received investments from a16z, 1kx, and Coinbase Ventures.