Porsche’s NFT launch runs red light after two disappointing sales days

Porsche’s NFT ambitions have stalled from the start.

The iconic German car brand sold more than 25% of its first collection of 7,500 NFTs when it said it would close the project on Wednesday at 6 a.m. ET, according to the project’s announcement. judgment. Twitter account. Porsche originally envisioned a three-stage NFT molding process limit buyers to only three NFTs for an indefinite period.

“Our holders have spoken out,” @eth_porsche wrote on Tuesday afternoon. “We will cut our supply and stop minting to move forward with creating the best experience for an exclusive community.”

In just over 24 hours, 1,909 NFTs were sold for 0.911 Ether each, or about $1400 on Tuesday. But on OpenSea secondary NFT marketThe cheapest Porsche digital collection available for 0.905 Ether, lower on the project’s official website.

The company first unveiled the NFT collection, which featured a photo of the white Porsche 911 Carrera, at Art Basel in November, touting it as “rare, iconic and as timeless as the originals.” company sports car”.

Review of lackluster sales, crypto crowd, sometimes ironically related to Lamborghini, tend to disagree.

Despite the brand’s intention to participate in Web3, some on crypto Twitter believe the company’s efforts have not been enough. Some pointed out that the brand had never promoted mints on its official Twitter account and complained that NFT was overpriced due to the lack of perks and features associated with each collection.

Other users complained that Porsche acted like a traditional technology company, aka web2, in creating the NFT project, instead of fully embracing Web3 by interacting with people in space. time.

Porsche did not immediately respond Assetrequest comment.

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