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Digital art platform Blackdove abandons acquisition of NFT platform Foundation, ownership has been returned
Mars Finance reports that the digital art platform Blackdove has released an announcement about abandoning its acquisition of the NFT platform Foundation. It stated that the purpose of acquiring Foundation was to improve Blackdove’s software infrastructure. Because the acquisition progressed rapidly, Blackdove conducted due diligence only after the operational handover. However, it later found that developing its own platform was the best direction, so it decided to abandon the acquisition. At present, Foundation has been returned to its founder, Kayvon Tehranian, and the foundation’s 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 curated model. It places greater emphasis on exclusivity, artistic quality, and empowering creators. It mainly serves digital artists and professional collectors, and has previously received investments from a16z, 1kx, and Coinbase Ventures.