Foundation Labs
Foundation Labs was a San Francisco blockchain technology company (2020-2026) that built the Foundation NFT marketplace and adjacent consumer products (Rodeo, Worlds, Aura) exploring digital property rights for creators, ultimately winding down operations in April 2026.
- Company typePrivate
- Founded2020
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2C
- OfferingDigital Commerce or Content
What Foundation Labs does
Foundation Labs, Inc. was a San Francisco-based technology company founded in 2020 that built software exploring digital property rights for creators using blockchain infrastructure. Its core product was the Foundation NFT marketplace, launched in 2021 on Ethereum as a vertically integrated auction platform where creators could mint work onchain and collectors could bid directly. The marketplace processed over $230 million in primary digital art sales and generated more than $20 million in lifetime company revenue through transaction fees, becoming a defining venue of the early NFT era with high-profile participants including Edward Snowden, Aphex Twin, Charli XCX, and Pussy Riot.
The company subsequently expanded into adjacent products: Worlds (2023) provided onchain infrastructure for galleries and curators; Rodeo (2024) was an onchain social network iOS app where posts could be collected, reaching over 20,000 daily active users; and Aura (2025) was a consumer prediction market app for pop culture using virtual play money to onboard mainstream users. Foundation Labs was backed by tier-one crypto and venture investors including a16z, Variant Fund, Designer Fund, Standard Crypto, and 1kx, alongside notable individuals such as Jay-Z, Nas, Virgil Abloh, and Naval Ravikant. The company operated with 11-50 employees, employed product-led and community-led go-to-market motions, and emphasized design-forward consumer crypto UX including gas sponsorship and account abstraction.
Following the contraction of the NFT market and stalled growth in its newer products, Foundation Labs sold the Foundation marketplace and brand to Blackdove Art in February 2026. When that acquisition collapsed in mid-April 2026, founder and CEO Kayvon Tehranian permanently wound down the company, ending all operations.
Foundation Labs firmographics
Firmographics- Name
- Foundation Labs
- Legal name
- Foundation Labs, Inc.
- Website
- https://foundation-labs.xyz
- Company type
- Private
- Founded year
- 2020
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- Foundation Labs was a San Francisco blockchain technology company (2020-2026) that built the Foundation NFT marketplace and adjacent consumer products (Rodeo, Worlds, Aura) exploring digital property rights for creators, ultimately winding down operations in April 2026.
- Ownership category
- akta.pro rank
Foundation Labs industry classification
Industry- Product category
- NFT Marketplace
- NAICS
- Amusement Arcades (71312)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Art & 1/1 Digital Art NFT Marketplaces (FSADANAB)
- akta.pro secondary industry
- NFT Marketplaces & Aggregators (primary/secondary, discovery, cross-market routing) (FSAPAFAB)
Keywords
Where Foundation Labs is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Foundation Labs business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- NFT Marketplace Transaction Fees: Foundation operated as a vertically integrated auction platform for digital art NFTs, generating revenue through transaction fees on primary sales. The marketplace processed approximately $230 million in primary digital art sales since its 2020 launch, with the company generating over $20 million in revenue.
- NFT Secondary Market Fees: NFTs on Foundation could be traded on secondary markets with ownership tracked transparently over time.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Foundation Labs product offering
Product offeringCore offering
Foundation Labs built and operated a vertically integrated Ethereum-based NFT auction marketplace (Foundation) where creators could mint work onchain and collectors could discover, bid, and own digital art directly, processing over $230 million in primary sales since 2021. The company extended this into adjacent products including Worlds (onchain gallery infrastructure for curators), Rodeo (an onchain social network iOS app with collectable posts), and Aura (a virtual-currency prediction market app for pop culture).
Product overview
Foundation Labs was a technology company (2020-2026) building software for creativity, culture, and commerce. The portfolio consisted of four products: Foundation, a vertically integrated Ethereum-based NFT auction marketplace for digital art launched in 2021 that processed $230M+ in primary sales; Worlds (2023), infrastructure for onchain galleries that was discontinued; Rodeo (2024), an onchain social network iOS app where posts could be collected; and Aura (2025), a consumer prediction market platform for pop culture using virtual play money. The company concluded operations in 2026.
Differentiator
Problem solved
Functional benefit
Brands
- Foundation: The premier destination for onchain digital art. A curated NFT auction marketplace launched in 2021 for digital artists, designers, and creatives to release and sell their work as NFTs. Processed approximately $230 million in primary digital art sales. Sold to Blackdove Art in February 2026.
- Rodeo
- Aura
- Worlds
Products and services
- Foundation A curated Ethereum-based NFT auction marketplace for digital art, serving as the premier destination for onchain digital art. Enabled creators to mint and sell work as NFTs through auctions, with tools for Editions, Drops, Galleries, and Exhibitions. Sold to Blackdove Art in February 2026.
- Rodeo An onchain social network for creatives to share work, expose their process, and learn from one another. Built as a best-in-class iOS app where each post was collectable, allowing fans to support creators through micropayments. Sunsetted in 2026 after struggling to achieve further growth.
- Aura A prediction game for TV fanatics using virtual play money. A consumer prediction market platform covering pop culture events including sports, entertainment, and reality television. Enabled users to trade predictions, compete on leaderboards, and participate socially during watch parties.
- Worlds Infrastructure for galleries and curators to operate onchain in a digital art ecosystem. Allowed participants to establish artist rosters, curate exhibitions, organize collections, and charge commissions on sales. Discontinued during the NFT market contraction in 2023.
Quantifiable outcome
- $230M+ in primary sales processed since 2020 launch
- +4 more outcomes
Companies that use Foundation Labs
Customer profileNamed customers14 records
Segments4 records
Ideal customer profiles4 records
Foundation Labs technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Foundation Labs partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and flagship.
- Fruity IslandminorFoundation Labs partnered with Fruity Island, a watch party venue in Brooklyn, NY, for the finale of Survivor's 49th season. The partnership enabled onboarding of the entire live audience to use Aura for increasing the intensity and fun of the watch party experience.
- Blackdove ArtflagshipIn February 2026, Foundation Labs announced that the Foundation marketplace and brand was sold to Blackdove Art. Blackdove had announced the purchase in January 2026 but after operational handover concluded that building its own proprietary marketplace better aligned with its direction.
Scale indicators6 records
Recent moves8 records
Expansion highlights3 records
Foundation Labs competitors and assessment
Company assessmentDirect peers
- Rarible: A multi-chain NFT marketplace with community governance. Competes with Foundation in the Ethereum-based NFT marketplace category, though positioned more toward volume than curation.
- Magic Eden: A leading NFT marketplace that began on Solana and expanded to Ethereum and Bitcoin. Competes with Foundation in the broader NFT marketplace category with significant transaction volume.
- OpenSea: The dominant general-purpose NFT marketplace for primary and secondary trading across art, collectibles, and other digital assets. Direct competitor to Foundation in the Ethereum-based digital art marketplace category, with significantly larger transaction volume.
- LooksRare: An Ethereum-based NFT marketplace that launched as a community-owned alternative to OpenSea. Competes in the same secondary marketplace category as Foundation with token-based incentives.
- Zora: An NFT marketplace protocol and platform focused on creator-first minting and discovery. Comparable to Foundation's vertically integrated approach of enabling creators to mint and sell directly to collectors.
- Nifty Gateway: A curated NFT marketplace acquired by Gemini, focused on high-profile artist drops and editions. Competed with Foundation in the curated digital art NFT marketplace category with similar auction mechanics.
- SuperRare: A curated NFT marketplace focused on high-quality digital art with auction mechanics. Closely comparable to Foundation's positioning as a curated platform for established and emerging digital artists.
Emerging players
- Polymarket: A prediction market platform for real-world events including pop culture and politics. Comparable to Aura as a consumer-facing prediction market product targeting mainstream audiences.
- Farcaster: A decentralized social network protocol built on crypto rails. Comparable to Rodeo as an onchain social platform where user content has collectible and ownership characteristics.
Broad incumbents
- Coinbase NFT: Coinbase's NFT marketplace offering, leveraging the parent exchange's distribution and user base. Competed with Foundation in the Ethereum-based NFT marketplace category with significantly broader platform reach.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Foundation Labs social profiles
Digital presenceFoundation Labs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Foundation Labs leadership team
Management profileNumber of profiles
Profiles5 records
Foundation Labs funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Foundation Labs M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Foundation Labs
What does Foundation Labs do?
Foundation Labs built and operated a vertically integrated Ethereum-based NFT auction marketplace (Foundation) where creators could mint work onchain and collectors could discover, bid, and own digital art directly, processing over $230 million in primary sales since 2021. The company extended this into adjacent products including Worlds (onchain gallery infrastructure for curators), Rodeo (an onchain social network iOS app with collectable posts), and Aura (a virtual-currency prediction market app for pop culture).
Is Foundation Labs a public or private company?
Foundation Labs is a private company. It is classified as venture growth investor backed and is currently closed.
When was Foundation Labs founded?
Foundation Labs was founded in 2020. It employs 11 to 50 people.
Where is Foundation Labs based?
Foundation Labs is headquartered in San Francisco, United States, in the North America region.
How does Foundation Labs make money?
Two revenue lines are on record. NFT Marketplace Transaction Fees are the primary driver. The others are NFT Secondary Market Fees.
Who are Foundation Labs's main competitors?
Direct peers on record are Rarible, Magic Eden, OpenSea, LooksRare, Zora, Nifty Gateway and SuperRare. Emerging players are Polymarket and Farcaster. Coinbase NFT is listed as a broad incumbent.
Does Foundation Labs have an API?
No public API is recorded for Foundation Labs.
What industry is Foundation Labs in?
Foundation Labs's product category is NFT Marketplace. Its primary akta.pro industry code is FSADANAB, Art & 1/1 Digital Art NFT Marketplaces, with a secondary code of FSAPAFAB, NFT Marketplaces & Aggregators (primary/secondary, discovery, cross-market routing). Its NAICS code is 71312 and its SIC code is 6200.