Porsche Axes Web3 Project Amid Weak Demand for 911 NFTs

Porsche is shutting down its Web3 project, which included the 911 NFT collection. The company's initial plan was to mint 7,500 tokens, but only 2,363 were sold due to weak demand after a 24-hour window.

The tokens will remain on the blockchain and can still be traded on secondary marketplaces. However, Porsche is ending its official support for the project, including its Discord and Twitter accounts, which will become read-only archives.

The PORSCHΞ 911 rollout drew early trading volume in the millions of dollars, but the project faced criticism over pricing and lack of clear benefits to holders.