kayvon
@saturnial
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CEO, cofounder @foundation 🌐 Find me on Farcaster:
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Joined June 2009
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Pinned Tweet
Support for
@base
on
@foundation
launches April 2, including:
↳ A faster auction experience for collectors.
↳ Larger file sizes for artists.
↳ Zero fees on Drops and Editions for artists.
This is the start of something new. 🌀
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NFTs unlock a new internet.
Of course they're controversial!
They challenge our existing preconceptions of value, identity and control.
In giving the first TED talk on NFTs, my goal was to ground the audience in a wider perspective.
How'd I do?
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There’s no school you can go to learn about web3.
You have to learn by doing.
The people succeeding in web3 right now are the doers.
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I started collecting photography recently.
Feels right at home in my collection.
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NFTs from
@SuperRare
will be available on
@foundation
this week.
Support for
@manifoldxyz
to follow shortly thereafter.
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If you're a web2 CEO tweeting skepticism about web3, my question is why even waste your time?
If it doesn't matter, it'll just fade.
But in reality, you know it won't fade. You know it's real. You were once in our shoes. You saw the potential in something others couldn't.
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At Foundation, we lead.
Today, we’re announcing the closing of our shared minting contract effective January 28.
Why? We believe creators should own their contracts, not platforms.
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NFTs let us sell files on the internet.
In reality, this is always how the internet should have worked.
We just didn't have the technology at the time.
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It's increasingly clear that Big Tech will attempt to co-opt the term metaverse.
In my opinion, we should fight for the integrity of the word.
What defines a metaverse?
- Your digital objects belong to you
- Your digital objects are portable
- Your digital objects hold value
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Announcement tomorrow. The largest in our history.
9 AM PT / 12 PM ET / 5 PM GMT
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Foundation honors a 10% royalty for all secondary sales on the platform.
We remain committed to creator royalties and we will continue to invest here.
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In February, Foundation will transform into what a modern digital art platform should look and feel like.
Be ready.
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A complete revamp of Foundation’s marketplace just landed, including:
↳ Buy Now
↳ Offers
↳ Auctions
Oh, and our fee is now 5% across the board.
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Today, we’re announcing Drops — a powerful new way to create and collect on Foundation.
Drops unlock entirely new experiences for our community.
Let's take a closer look at what makes Drops so special.
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Splits change everything.
Collaboration is one of the most magical and essential ingredients to the creative process.
With splits, the logistics of collaboration are that much simpler.
Encode an NFT with a split and the blockchain will ensure everyone gets paid. Forever.
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Fun fact: the first secondary auction is now live on
@withFND
.
At the conclusion of the auction, the original artist will automatically receive a 10% royalty payment to their wallet. This is the new creative economy.
Bonus points to whoever posts the auction below.
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I welcome the NFT skeptics, but there's no denying the magic that a collective of Ethiopian artists can release work on the Internet now and receive immediate patronage in the form of a borderless, global crypto currency.
No customs, no forex, no international wire transfers.
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Ethereum is not designed to be a storage layer.
The onchain NFT discussion is ignoring this fact.
Arweave and IPFS are being disregarded as dependencies when they are purpose made to handle storage.
Ethereum and decentralized storage are both needed.
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Gas prices are dirt cheap right now. If you're an active collector on
@withFND
, it's a perfect time to relist some of your pieces in our secondary market and help set new floors for the artists you're backing.
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It's the hardcore that remain right now.
And I want Foundation to be a beacon for the hardcore.
We're still building.
Artists are still creating.
Digital art has never felt more relevant.
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It's not digital art, nft art, or crypto art.
It's just art.
The internet is humanity's ultimate canvas.
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It honestly floors me that we hit $100mm in sales in less than 7 months.
Not even enough time has passed for us to process what's been kickstarted.
But our gaze is to the future.
We've never been more focused, more ambitious, more optimistic.
We're just getting started...
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Don't start a company if you're not willing to be misunderstood for a long time.
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Yesterday, we announced our formal partnership with
@highlight_xyz
to bring onchain generative minting to Foundation.
I want to share my 2 cents on why it's a big deal. 🧵
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People still think NFTs are disrupting the art world. That ship has sailed.
NFTs disrupt most internet businesses.
Think bigger.
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I believed this when I started the company.
I believe this now.
Artists will bring blockchains to the mainstream.
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It's simple. We choose to pay out royalties because we believe in them.
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The secondary market on
@withFND
is taking root.
Congratulations to
@TheArchangel22
!
His three-piece King Series originally sold for an avg. price of ~1 ETH.
The avg. resale price? ~45 ETH.
His royalty payment of 13.5 ETH exceeded his primary sales by 5x 📈📈📈
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To support Iranian artists whose work is censored, suppressed and banned is a personal dream of mine.
Thank you
@HichkasOfficial
for entrusting this incredible piece of Iranian culture with us.
"Forced out of Iran,
@HichkasOfficial
and
@MahdyarAghajani
hope blockchain empowers silenced artists everywhere."
Their artwork for "Jangale Asfalt," the first Persian hip-hop studio album, was collected for 190 $ETH (~$400,000) by
@3fmusic
.
→
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Exciting announcement tomorrow.
We’ve been working on it for months now.
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Today, we’re announcing ✨ Exhibitions ✨ — the best way to present, buy and sell digital art.
NFTs and digital art are a perfect match. There’s no way to sell digital art without NFTs.
But not all NFTs are digital art.
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I'm obviously biased by the fact that I know in detail every investment we're making across the board, but my sense is that people are still massively underestimating
@withFND
and its potential.
2022 is going to be a hell of a year.
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We're the hardcore. We're still here.
Outside of us, people have lost faith in NFTs.
It's going to be very fun when they realize what we've been building all this time.
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Today, we’re introducing Home tab™ 🏡.
With Home tab™ 🏡, profiles on Foundation are now a canvas for your creativity. 🎨
↳ Tell your story. 📢
↳ Showcase your grails. 🏆
↳ Feature a live auction. 💥
It's up to you!
Your Home tab™ 🏡 is your personal web3 homepage.
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Today, we’re announcing Worlds, a web3-native curation tool.
In a single transaction, curators can launch a World on Foundation, assemble their dream team, and automatically earn ETH whenever an NFT listed in their World sells.
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No normal person should care about Ethereum.
It’s a backend technology.
Build something with it that people want.
They want a service. An experience. A superpower.
They certainly don’t want a backend.
Users don’t know about BigTable but they sure love using Google.
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Collecting 1/1 art is an infinite game that will endure over time.
Honing and expressing one's taste is one of life's greatest pleasures.
And there's no beginning or end to that journey.
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Foundation artists have deployed 228 smart contracts in 24 hours since launch.
Houston, we have lift off. 🚀
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People still underestimate the impact of smart contracts.
We've processed $350mm+ through our smart contracts and every single person that needed to get paid got paid.
A royalty? A bid? A private sale? A three-way split?
The money got to where it needed to go without fail.
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v2 of
@withFND
launched 3 months ago to the day.
↳ $250mm+ in bids
↳ $60mm+ in sales
We're not slowing down. We're taking this momentum and making investments across the board in our editorial, engineering and design teams.
We're just getting started.
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Foundation is home to photography. 📸
As it is home to:
↳ Memes
↳ Dance
↳ Anime
↳ Net Art
↳ 3D sculpture
↳ Generative art
↳ Digital fashion
The new creative economy is expansive, not siloed.
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This will be understood with time:
web2: Facebook
web2.5: OpenSea
web3: Foundation
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Thank you to all the artists and collectors giving our team the opportunity to build the project of our lives.
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We didn't remove royalties.
↳ Bad for creators.
We didn't enforce operator filters.
↳ Bad for decentralization.
We just kept building towards our vision.
↳ Getting creators paid in web3.
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Here's a cheat sheet:
🏗️ Foundation = platform
🌐 Worlds = gallery builder
⛓️ Forever = gallery
Decentralized curation is here.
And it can scale to support every art form and every community.
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I’ll also give you a peak into the future:
Audio NFTs + a custom collection contract is the new album drop.
🎤🕳
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I don't see
@withFND
as a blockchain or crypto product — but rather as a defining web3 product.
Blockchains are a database technology. Crypto is the money they give us. Web3 is a fundamental rearchitecture of the internet around digital ownership.
This is the main course.
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The majority of the
@withFND
team will be in NYC this week.
We look forward to meeting so many of you who have made the past year so special.
✌️🗽
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Our north star:
Increase the number of people in the world able to live off their creativity.
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Announcement coming tomorrow.
And it's something we've wanted to ship for a long time!
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I wanted to take a moment and thank our community of artists and collectors.
This year represents the most ambitious goals we've ever set out for ourselves at Foundation, and we owe it to you for giving us this opportunity.
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Foundation's secondary marketplace will continue to honor creator royalties unconditionally.
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gm, it's three days since we launched Worlds and curators have already generated over 100 ETH in sales!
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10,000 ERC-721 smart contracts deployed through Foundation.
Why are you still minting to a shared contract?
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If it's not obvious yet, we're out to build the defining product and brand of web3.
And we're just getting started...
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On Foundation, we've paid out hundreds of millions of dollars to artists from around the globe.
For our next act, we're empowering curators.
Worlds launches on Jan. 10, 2023.
New year → new ways to earn, curate, and exhibit.
ᴀ ɴᴇᴡ ᴡᴏʀʟᴅ ɪꜱ ᴘᴏꜱꜱɪʙʟᴇ.
🌐 ᴊᴀɴᴜᴀʀʏ 10, 2023
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You don't look to the old guard for permission to invent the future.
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I wake up.
I build cool web3 technology.
I get artists paid.
I go to bed.
I'm happy.
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DAOs are consistently winning auctions against individuals on
@withFND
.
Today's example:
@herstoryDAO
winning the jewel "Queen of Sheba" by
@yatreda
.
This isn't a fad. This is the future.
The tools for collective ownership are here, they're just not evenly distributed yet.
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To help ground the success of collections on
@withFND
, there are ~26K ERC-721 smart contracts deployed to Ethereum.
~1,000 of them have been deployed by artists through Foundation in less than two weeks.
2022 is going to be fun. 😋
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NFTs can travel freely across the internet.
Right now there are only a few places for them to go.
But soon there will be millions of places.
@foundation
will be the premiere destination.
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NFTs didn't invent digital art.
Digital art precedes NFTs by decades. We've been creating art with computers since the very beginning.
NFTs just unlock the value that's been in digital art all along!
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Yeah, it's a bear market, and the tourists have all left.
Yeah, we're shipping the best product of our lives.
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Audio NFTs coming to
@withFND
soon.
It's time to start rebuilding the music industry.
NFTs are the new building blocks with which to remake any creative industry.
Music NFTs are where digital art was in 2020:
About to redefine the value and (100x) the business model of the medium forever. 🧵
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Today, we’re announcing the Worlds smart contract — a new paradigm for curation in web3.
Every world is represented as an NFT.
As your world grows, the NFT accumulates curatorial history through onchain events.
This creates provenance, and provenance creates value.
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Foundation was founded at the onset of the pandemic when ETH was below $100.
Our vision isn't predicated on price.
It's predicated on the belief that the internet is not static — it can be upgraded, and it can hold more economic possibility for more people.
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Today, we’re announcing Dynamic Pricing — a Rebate Dutch Auction system designed from the ground up by Foundation.
Pricing is one of the most daunting challenges that creators face in web3.
We threw our full design process at the problem.
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