Q4. Foundation is an NFT platform that allows creators to mint their work as NFTs on the Ethereum blockchain. Foundation also offers an NFT exchange allowing creators to sell their work. For more details, please see foundation.app.

Graph below shows the daily sales transaction on Opensea vs Foundation. Foundation is slightly different from Opensea, where usually an NFT token was sold as a project. Foundation is where art are made by creator and sold by creator to buyer. So Foundation is more like P2P NFT Marketplace while NFT is the mass marketplace. From graph below, we can see that transactions on Foundation are minuscule compared to sales transaction on Openseas.

Next graph shows the daily fees collected by the platform. For Opensea, they will take 2.5% of any sales made on Opensea platform. While for Foundation, 5% is collected and sent to their treasury for each transaction made. However since Opensea has much more sales transaction, then total fees collected by Opensea is much higher compared to Foundation. For the past 90 days, Opensea has collected 2725 ETH per day on average while Foundation daily average fees collected was 9 ETH.

Next bar graph shows the creator fees and in this context, the fees that went to NFT creator. So, this is the sales transaction value (minus the platform fees). On Opensea and general NFT projects, the artist/project gets ETH from minting and secondary sales royalty. Hence, why we only see creator fees on Foundation marketplace only.

Graph below shows the sales volume comparison of Opensea and Foundation. As we can see, Opensea has much larger daily volume compared to Foundation.

In conclusion, Foundation is a different marketplace targeted for different kind of projects. However, Opensea is still the main marketplace for NFTs.