Porsche shuts down its Web3 project, but 911 NFT holders keep their tokens

Porsche is pulling the plug on its Web3 experiment. The automaker’s 2023 NFT project is ending, and its Discord and Twitter accounts will be switched to read-only. The wind-down also ends the PIONΞERS CIRCLE community initiative, effective October 1, 2026. Holders of the PORSCHΞ 911 NFTs keep their tokens, which remain on the blockchain. The official support around those tokens is what goes away. From 7,500 planned to 2,363 minted The PORSCHΞ 911 collection launched in January 2023, after being introduced during Art Basel Miami. The plan was 7,500 NFTs, each priced at 0.911 ETH. Minting stopped after roughly 24 hours because demand was weak. Only about 1,800 to 1,900 NFTs had been minted by then. Porsche then capped total supply at 2,363, less than a third of the original target. Many in the NFT community objected to the pricing and found the utility vague. Porsche responded by shrinking supply and putting more effort into the people who did buy, expanding holder benefits and hosting events to keep that smaller community engaged. Initial trading volume was reported in the millions of dollars in early 2023, even with the bumpy mint. What changes for holders Each PORSCHΞ 911 token li...