Foundation positioned itself as a gallery rather than a marketplace, with curated access for artists and a focus on single-edition work. That focus produced a higher quality bar than open platforms and a much smaller market.
Auctions and royalties
The auction mechanics — reserve prices, timed extensions on late bids — work as expected and prevent the sniping that plagues simpler implementations. Creator royalties of 10% are honoured on secondary sales, and Foundation maintained that position when larger venues abandoned it.
The liquidity reality
A single-edition work has one owner and one potential resale at a time. Secondary volume on Foundation is minimal, and a purchase should be treated as acquiring art you want to own rather than a position you expect to exit. The platform does not pretend otherwise, which is more honest than the marketing on most NFT venues.
Fees
5% on primary sales, which is reasonable for curation and hosting, with royalties flowing to creators on secondary.
Who should use it
Collectors buying digital art for its own sake, and artists wanting a curated context with royalties intact. Anyone thinking about resale value should look elsewhere.