Porsche Closes PIONEERS CIRCLE After NFT Market Fails to Rev Up
Porsche has ended its Web3 project and PIONEERS CIRCLE, nearly four years after unveiling a 7,500-piece NFT collection built around the 911. The exit comes with a peculiar wrinkle: holders keep their PORSCHE 911 NFTs onchain, but the Discord community becomes an archive and the project's X account goes dark.
The PIONEERS CIRCLE was initially pitched at 0.911 ETH per token, roughly $1,400 to $1,500 at the time. However, collectors balked at the price, and secondary listings slipped below mint. Porsche quickly listened to the market and nixed the full 7,500-token run, closing at just 2,363 NFTs.
The club became the product for the PIONEERS CIRCLE, with holders promised behind-the-scenes access, a role in shaping the company's Web3 plans, physical capsule collections, private airdrops, and 'money-can't-buy' experiences. The grander blockchain vision never quite got cooking with gas.