Porsche Ends Web3 Project After Nearly Four Years as 911 NFT Trading Volume Slumps
Uk Jin
Summary
- Porsche said it will end its Web3 project and NFT community operations after nearly four years.
- Existing Porsche 911 NFTs will remain with holders and stay on-chain despite the project's closure.
- Porsche moved to issue 7,500 911 NFTs in January 2023, but halted the mint early after criticism over the high price and limited utility, leaving final issuance at 2,363.
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Porsche is ending its Web3 project and NFT community operations after nearly four years.
Cointelegraph reported on October 2 that Porsche announced on its official X account, formerly Twitter, that it would shut down the Porsche Web3 project and Pioneers Circle. The community's Discord server will be converted into a read-only archive, and the project's X account will no longer be updated.
Existing Porsche 911 NFTs will remain with holders and stay on-chain.
Porsche moved to issue 7,500 911 NFTs in January 2023, but halted the mint early after criticism over the high price and limited utility. Final issuance reached 2,363 tokens.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.