- Porsche launched an NFT collection made up of 7,500 tokens of a digital replica of his 911 model at a price of 0.911 ETH ($1,450), a price that users considered too expensive that they were quick to express it.
Porsche is one of the largest and most important automotive companies in the world. Some of its models are historical emblems and it plans to enter Formula 1, with a possible agreement with Red Bull. However, his last foray into the crypto world was not positive at all…
On Monday, January 23, the German manufacturer launched its first collection of non-fungible tokens (NFTs). with the hope that it will be well received by the community. However, the opposite happened: there were demonstrations against it and the company reported that it had stopped the projected minting.
“Our users have spoken. We are going to cut off our supply and stop minting to move forward with creating the best experience for an exclusive community.” stressed Porsche through Twittera social network in which he has just over 45,000 followers.
What happened?
The automaker launched 7,500 tokens of a digital replica of its 911 model at a price of 0.911 ETH, which currently has a value close to $1,450 dollars. This, in a bear market and hard hit by everything that happened in 2022, a price that is too expensive for users, who were quick to express it.
At another time, the 7,500 tokens might have been used up quickly; however, on this occasion only 1,938 were minted.
In OpenSeathe largest NFT market in the world, can even be obtained for a lower price: many users, given the little interest that has been generated, sell it for 0.9 ETH assuming the corresponding loss.
Porsche’s determination was to cut off minting new NFTs, so it is no longer possible to do so through the official website. New and more information is expected to arrive in the next few hours about what, behind closed doors, was considered a failure. This time they did not press the accelerator and they did press the brake…
Cars and NFTs
The Porsche launch is not the first of its kind: other teams have already connected with NFTs and with very good results. Two cases like these are McLaren and Red Bull.
The British company, which competes in Formula 1 and also has street cars, has its MSO LAB Genesis Collection, which included 2,012 NFTs of its McLaren P1. This was a hit and sold out in May 2022. The reason? In addition to being colorful items, it is “reasonably” priced: it can currently be purchased for 0.141 ETH ($219).
Red Bull, for its part, launched a collection of Sergio “Checo Pérez” helmets in July last year. It is worth noting that the Austrian team has a commercial agreement with the Tezos blockchain, where non-fungible tokens run, and also works with the Bybit centralized exchange.
What are the most important collections of the moment?
Currently, at OpenSea the five trending collections are Sewer Pass, Toshies, The Memes by 6529, Miaocraft and Nyan Ballon. The first, which offers digital tickets that guarantee access to “Yuga Labs’ Dookey Dash interactive skill-based mint”, has a volume of 3,341 ETH, with a minimum price of 2.70 ETH.
Will Porsche be able to speed up and put this bad moment behind them? Everything, it seems, will depend on your requirement and the price…
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