According to data collected by NFTScan on January 26, German luxury car maker Porsche’s collection of non-fungible tokens (NFTs) had reached 2,839 Ether ($4.5 million) at press time. The collection had a minimum price of 2.74 ETH and a maximum price of 9.18 ETH, with a total of 1,705 sales.
Although a total supply of 7,500 NFTs was originally anticipated, Porsche abruptly halted the minting process on January 25, after some users complained about high minting prices and the lack of utility to buyers of such NFTs. . Since then, the offer has been reduced to 2,363. Porsche NFTs originally had a mintage price of 0.911 Ether in reference to the eponymous “911” series, but many users complained that they wanted the price lowered to 0.0911 ETH.
After receiving feedback from the community, Porsche advertisement which would extend holders’ benefits to behind-the-scenes access to the world of Porsche, the Web 3.0 co-creation of Porsche, an exclusive physical capsule collection from Q2 2023, the opportunity to attend “Porsche experiences that are not can buy with money” and a “private airdrop” in March 2023. First unveiled during Art Basel Miami in November 2022, the Porsche NFTs were created by Hamburg-based designer and 3D artist Patrick Vogel and his studio ALT/SHIFT. Lutz Meschke, vice president and executive board member for finance and IT, wrote then:
“This project is one more element of our digitization strategy. We are committed to the long term and our Web 3.0 team has the autonomy to develop innovations in this dimension as well.” Porsche’s innovation department also sees potential in the shopping experience, the metaverse and the supply chain. Issues related to vehicles and sustainability are also being studied.”
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