How to set up an NFT auction on Foundation? (Fine art)

Creating Your Foundation Account

1. Navigate to foundation.app and click the “Sign In” button located in the top-right corner of the homepage.

2. Connect a supported Ethereum wallet such as MetaMask or Coinbase Wallet—Foundation does not support email-based registration.

3. Complete wallet verification by signing a cryptographic message; this confirms your identity without revealing private keys.

4. Fill in your profile details including artist name, bio, and social media links—these appear publicly on your creator page.

5. Submit a portfolio review request through the “Apply as Creator” flow; Foundation maintains a curated platform, so approval may take several business days.

Minting a Fine Art NFT

1. Once approved, access the “Create” tab and select “Single” to mint one-of-a-kind digital representations of physical fine art pieces.

2. Upload high-resolution images or videos—recommended minimum resolution is 3000×3000 pixels with sRGB color profile for accurate reproduction.

3. Enter descriptive metadata: title, description, edition number (set to “1/1” for unique works), and optional provenance notes such as exhibition history or prior ownership.

4. Assign properties like medium (e.g., oil on canvas), year created, and physical dimensions—these fields enhance discoverability and collector trust.

5. Confirm gas fees in ETH; minting requires a small transaction to register the token on the Ethereum blockchain.

Configuring the Auction Parameters

1. After minting, go to your item’s detail page and click “Sell” to begin auction setup.

2. Choose “Auction” instead of fixed price—Foundation supports only English-style ascending auctions with a 24-hour duration by default.

3. Set a starting bid no lower than 0.01 ETH; Foundation enforces minimums to deter spam and low-value listings.

4. Specify a reserve price if desired—this hidden floor ensures the piece sells only if bids meet or exceed your threshold.

5. Review auction visibility settings: enable or disable bidding notifications, and decide whether to allow anonymous bidders.

Marketing Your Fine Art Auction

1. Share your auction link across Instagram, Twitter, and Discord using visually rich previews and context about the work’s conceptual framework.

2. Tag relevant curators, galleries, and collectors who engage with fine art NFT discourse—Foundation’s feed algorithm prioritizes activity from verified accounts.

3. Schedule timed posts aligned with peak engagement windows for major time zones—EST, CET, and JST show statistically higher bidder turnout.

4. Embed your auction in an external portfolio website using Foundation’s iframe embed code, preserving real-time bid updates.

5. Respond promptly to comments and DMs during the auction window—collector confidence correlates strongly with visible responsiveness.

Frequently Asked Questions

Q: Can I list a photograph of a physical painting without owning the underlying copyright?A: No. Foundation requires full intellectual property rights or explicit written permission from the rights holder. Unauthorized reproductions violate their Terms of Service and may result in delisting or account suspension.

Q: What happens if my auction ends without meeting the reserve price?A: The item remains unsold and appears as “Ended Without Sale” on your profile. You may relist it with adjusted parameters or convert it to a fixed-price listing.

Q: Do I retain physical possession of the artwork after minting?A: Yes. Minting creates a verifiable digital certificate of authenticity—it does not transfer custody of the physical object unless separately arranged via contract.

Q: Are there fees beyond gas costs when selling on Foundation?A: Yes. Foundation charges a 15% commission on final sale value, and creators pay a 5% royalty on all secondary sales occurring on the platform.