Digital art platform Blackdove abandons acquisition of NFT platform Foundation, ownership has been returned

Foresight News reports that the digital art platform Blackdove has announced its decision to abandon the acquisition of the NFT platform Foundation. According to the statement, the purpose of acquiring Foundation was to improve Blackdove's software infrastructure. As the acquisition progressed quickly, Blackdove conducted due diligence only after the operational transition was completed, but subsequently realized that developing its own platform was the best direction, and thus abandoned the acquisition. Foundation has now been returned to its founder Kayvon Tehranian and the foundation's team.

Previously, on January 28, 2026, Blackdove announced the acquisition of Foundation. Founded in February 2021, Foundation is an NFT platform focused on high-quality digital art, known for its curatorial model, with a greater emphasis on exclusivity, artistic quality, and creator empowerment. It mainly serves digital artists and professional collectors, and has received investments from a16z, 1kx, and a certain exchange.