Foundation Mint and Sales

    Q3. 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.

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    The graph above shows the Foundation mint and sales activity over the last three months

    • As can be observed, Foundation's sales activity has been more consistent, with an average of more than 100 sales activities every day.
    • Despite this, the number of mint activities on Foundation dropped from over 300 to an average of 5 in February.
    • Mint activity is extremely low as compared to sales activity.

    Overview

    The following topics for Foundation NFT platform will be examined in this report:

    1. Foundation mint and sales activity over the last three months
    2. Comparison of Foundation and OpenSea Shared Storefront token transfer activity over the last three months

    The graph above shows the token transfer activity for Foundation and OpenSea Shared Storefront token over the last three months

    • The graph above illustrates that the transfer volume for Foundation token was on the declining trend.
    • With daily transfer volume dropping from over 500 by the end of January to approximately 100 by the middle of March.
    • The volume of OpenSea Shared Storefront token transfers has been over 3,000 on a constant basis.
    • Furthermore, on the 21st of February, it achieved a new peak with more than 20,000 transfers.

    Key Findings

    1. Mint activity has been extremely low in comparison to sales activity since February.
    2. Over the last three month, the daily transfer volume for Foundation Token has been in a downtrend.
    3. The volume of OpenSea Shared Storefront token transfers has stayed consistently above 3,000.