Porsche's NFT Trading Volume Nearly $5 Million

Despite user complaints, the developers of the Porsche NFT collection have halted the minting of the collection on January 25th. According to data from NFTScan on January 26th, Porsche's NFT collection, the luxury car manufacturer, reached a total sales volume of 2.839 Ether (4.5 million dollars). The base price of the collection was 2.74 Ether and the ceiling price was 9.18 Ether. A total of 1,705 NFT sales were made.

The Porsche NFT collection, which initially planned to have 7,500 NFTs available, was halted on January 25th due to complaints from some users about high prices and lack of benefits for NFT holders. The supply has since been reduced to 2,363. The initial release price for the NFTs was 0.911 ETH, a reference to the "911" collection. However, users found this price to be too high and requested it be lowered to 0.0911 ETH. According to data from NFTScan on January 26th, the total sales volume of Porsche's NFT collection reached 2.839 Ether (4.5 million dollars). The base price of the collection was 2.74 Ether, while the top price was 9.18 Ether. A total of 1,705 NFT sales were made.

Porsche representative Lutz Meschke, said at that time:

This project is an additional element of our digitalization strategy. We have fulfilled our long-term commitment and our web3 team has more freedom to develop. Porsche's innovation management sees potential in the purchasing experience, metaverse, and supply chain. Topics such as vehicles and sustainability are also being evaluated.