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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NFT marketplaces

Foundation

# Foundation Trading volume Methodology

## 1. Overview

Foundation trading volume measures the total daily transaction volume on the Foundation NFT marketplace, combining both primary market sales (drops) and secondary market transactions. The metric captures the sum of all fees paid across different transaction types, representing the economic activity flowing through the marketplace. This includes protocol fees collected by Foundation, creator royalties, and seller revenues, providing a comprehensive view of marketplace activity.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Foundation marketplace events**: Parsed Ethereum smart contract event logs from Foundation's NFT marketplace contracts, including multiple event types for different sale mechanisms
- **Primary market events**: `MintFromFixedPriceDrop` event logs capturing direct purchases from creators
- **Secondary market events**: Four event types capturing different secondary sale mechanisms: `ReserveAuctionFinalized` for auction completions, `PrivateSaleFinalized` for private sales, `BuyPriceAccepted` for immediate purchases, and `OfferAccepted` for accepted offers
- **End-of-day price feeds**: Token price data for USD conversion, specifically for WETH since all Foundation transactions are denominated in WETH
- **Token metadata**: Decimal and contract information for proper value calculation

## 3. Step-by-step calculation

### Component A: Secondary market trading volume
- **Purpose**: Calculate trading volume from secondary NFT sales where ownership transfers between users
- **Logic**: Extract data from four different Foundation marketplace event types that represent completed secondary sales. Each event contains fee breakdowns including protocol fees (`f8nFee`), creator fees (`creatorFee`), and owner revenue (`ownerRev`). Filter for distinct transactions using block timestamp, log index, and transaction hash to avoid duplicates. All transactions use WETH as the payment token and are classified as 'Secondary' trade type.
- **Key fields**: Trading volume equals the sum of `protocol_fee_amount` + `owner_fee_amount` + `creator_fee_amount`. Events are tagged with marketplace business line and NFT market sector classifications.

### Component B: Primary market trading volume  
- **Purpose**: Calculate trading volume from primary NFT sales directly from creators through drops
- **Logic**: Extract data from `MintFromFixedPriceDrop` events that capture direct purchases from creators during initial NFT releases. These events contain creator revenue (`creatorRev`) and total platform fees (`totalFees`). Since there's no previous owner in primary sales, only creator and protocol fees are included. All transactions use WETH and are classified as 'Drop' trade type.
- **Key fields**: Trading volume equals the sum of `protocol_fee_amount` + `creator_fee_amount` (no owner fees in primary sales). Events receive the same business line and market sector classifications.

### Final aggregation
- **Combining components**: Union all secondary and primary trading records into a single dataset, maintaining separate trade type classifications while using consistent field structures
- **Currency conversion**: Apply USD conversion using end-of-day WETH price feeds with automatic decimal correction to handle token precision differences
- **Time aggregation**: Truncate all timestamps to daily boundaries using `timestamp_trunc` function, creating daily aggregated trading volume totals
- **Final calculation**: Sum the USD-converted trading volume amounts for each day, filling missing days with zero values to maintain continuous time series data. Apply chain availability filters to ensure data consistency across the supported blockchain networks.

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

Total value of spot trades executed on the exchange.

Foundation

Trading volume

Trading volume

Competitive landscape