Foundation enables users to mint and sell their digital art and earn royalties in return (supply-side fees). The platform takes a fee for each successful trade (revenue). 

Foundation aims to build a new creative economy by empowering artists, collectors and other users to buy, sell, and participate in live auctions for various digital pieces of art.

Foundation is a NFT marketplace, featuring live auctions, built on Ethereum. The platform was founded by 
Kayvon Tehranian and it was launched in February 2021. 

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Foundation

# Foundation Revenue Methodology

## 1. Overview

Foundation revenue represents the total protocol fees collected by Foundation from both secondary marketplace transactions and primary NFT drops/mints. This metric captures Foundation's earnings from facilitating NFT trading on their platform, including fees from auctions, direct purchases, offer acceptances, private sales, and primary mints. The revenue is calculated by summing all protocol fees collected across these activities, converted to USD, and aggregated on a daily basis.

## 2. Data sources

- **Ethereum blockchain event logs**: Parsed events from Foundation v1 smart contracts including `ReserveAuctionFinalized`, `PrivateSaleFinalized`, `BuyPriceAccepted`, `OfferAccepted`, and `MintFromFixedPriceDrop` events
- **Secondary marketplace events**: Events from Foundation's Market contract representing completed NFT sales, auctions, and offers
- **Primary drop events**: Events from Foundation's NFTDropMarket contract representing NFT mints from fixed-price drops
- **End-of-day price feeds**: Token price data for USD conversion of WETH-denominated fees
- **Token metadata**: Decimal configuration data for proper fee amount normalization

## 3. Step-by-step calculation

### Component A: Secondary marketplace revenue
- **Purpose**: Captures protocol fees from secondary NFT marketplace transactions
- **Logic**: Processes four types of Foundation v1 Market contract events: reserve auction finalizations, private sale completions, buy price acceptances, and offer acceptances. Each event contains fee breakdowns including creator fees, owner revenue, and Foundation's protocol fee. Extracts the `f8nFee` field as the protocol fee amount, which represents Foundation's commission on secondary sales. All transactions are classified as 'Secondary' trade type and associated with the WETH token address since fees are collected in WETH.
- **Key fields**: `f8nFee` (Foundation's protocol fee), `creatorFee` (creator royalties), `ownerRev` (seller proceeds), `block_timestamp` (transaction timing)

### Component B: Primary drop revenue  
- **Purpose**: Captures protocol fees from primary NFT mints and drops
- **Logic**: Processes `MintFromFixedPriceDrop` events from Foundation's NFTDropMarket contract representing primary NFT sales directly from creators. Extracts the `totalFees` field as the protocol fee amount, which includes Foundation's platform fees for facilitating primary drops. Also captures `creatorRev` representing creator earnings, but only uses the protocol portion for revenue calculation. All transactions are classified as 'Drop' trade type and associated with WETH token address.
- **Key fields**: `totalFees` (total platform fees including Foundation's cut), `creatorRev` (creator revenue), `block_timestamp` (mint timing)

### Final aggregation
- **Combining components**: Secondary marketplace fees and primary drop fees are combined using a union operation to create a complete view of all Foundation revenue streams. Both components contribute their respective `protocol_fee_amount` values to the total revenue calculation.
- **Currency conversion**: All fee amounts are originally denominated in WETH and converted to USD using end-of-day exchange rates. The conversion process accounts for WETH's 18-decimal precision to ensure accurate dollar values.
- **Time aggregation**: Block timestamps are truncated to daily boundaries to aggregate all fees collected within each calendar day. This provides daily revenue totals across all Foundation activities.
- **Final calculation**: Daily revenue equals the sum of all protocol fees collected from secondary marketplace transactions (`f8nFee` values) plus all protocol fees collected from primary drops (`totalFees` values), converted to USD and aggregated by day. Missing days are filled with zero values to maintain a complete time series.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Foundation

Revenue

Revenue

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