Porsche Ends Web3 Project, NFTs Remain With Holders

Porsche is ending its Web3 project and the PIONΞERS CIRCLE community, winding down official support for its 911 NFT collection while saying existing tokens will remain with their holders and on the blockchain. The company’s announcement, posted on X, also says the community’s Discord server will become a read-only archive and its project account will no longer receive active updates. The shutdown concludes an initiative launched around a digital version of Porsche’s 911 sports car. The collection opened for minting in January 2023 with a planned supply of 7,500 NFTs, each initially priced at 0.911 ETH. Buyers could choose among Performance, Heritage and Lifestyle design paths. Porsche had introduced the project at Art Basel in Miami in December 2022. The launch encountered criticism and weaker demand than the original plan anticipated. Porsche halted minting early and reduced the planned supply after feedback from holders and criticism of the rollout. Reports put the number minted when sales stopped at roughly 1,800 to 1,909; the collection’s later capped supply was reported as 2,363. Those figures refer to different stages and should not be treated as the same measure.