Porsche NFT Nears 5 Million Sales Despite Initial Problems
The NFT developers of Porsche, the well-known sports car manufacturer, were forced to stop token minting on January 25 due to user’s complaints.
Based on data from NFTScan, the NFT collection from German luxury and sports car manufacturer Porsche reached a total trading volume of 2,839 ETH ($4.5 million) at the time of writing on January 26. The collection had NFTs with a minimum price of 2.74 ETH and a maximum price of 9.18 ETH, and the total sales volume exceeded 1,705.
The NFTs were originally minted at a hay price of 0.911 ETH (the price was a reference to the legendary Porsche 911). Many users complained about this price and demanded that it be reduced to 0.0911 ETH. The original offering was to contain a total of 7,500 NFTs; however, on January 25, Porsche had to stop the minting due to complaints from users who did not like the high price of the collection and the lack of utility of these NFTs. As a result, the offer was reduced to 2 363 pieces.
Porsche has announced that they will extend the benefits to their NFT holders. Holders will have the opportunity to participate in "the future of Porsche in a Web 3.0 environment," as well as receive a physical capsule collection in Q2 2023, the chance to participate in "Porsche experiences that money can't buy," and a private Airdrop in March 2023. Porsche's NFTs are the work of Hamburg-based designer and 3D artist Patrick Vogel and his studio Alt/Shift. Lutz Meschke. The collection was first unveiled at Art Basel in Miami at the end of 2022, and Porsche's vice chairman and executive board member for finance and IT Lutz Meschke, wrote at the time:
"This project is the next step in our strategy on digitalization. We have made a long-term commitment, and our Web 3.0 team has the opportunity to innovate independently in this area as well. The innovation leadership at Porsche also sees potential in the areas of procurement, metaverse, and supply chain. Issues related to vehicles and sustainability are also under consideration."
Source: cointelegraph.com
analyst opinion
Jakub Odvářka
Based on data from NFTScan, the NFT collection from German luxury and sports car manufacturer Porsche reached a total trading volume of 2,839 ETH ($4.5 million) at the time of writing on January 26. The collection had NFTs with a minimum price of 2.74 ETH and a maximum price of 9.18 ETH, and the total sales volume exceeded 1,705.
The NFTs were originally minted at a hay price of 0.911 ETH (the price was a reference to the legendary Porsche 911). Many users complained about this price and demanded that it be reduced to 0.0911 ETH. The original offering was to contain a total of 7,500 NFTs; however, on January 25, Porsche had to stop the minting due to complaints from users who did not like the high price of the collection and the lack of utility of these NFTs. As a result, the offer was reduced to 2 363 pieces.
Porsche has announced that they will extend the benefits to their NFT holders. Holders will have the opportunity to participate in "the future of Porsche in a Web 3.0 environment," as well as receive a physical capsule collection in Q2 2023, the chance to participate in "Porsche experiences that money can't buy," and a private Airdrop in March 2023. Porsche's NFTs are the work of Hamburg-based designer and 3D artist Patrick Vogel and his studio Alt/Shift. Lutz Meschke. The collection was first unveiled at Art Basel in Miami at the end of 2022, and Porsche's vice chairman and executive board member for finance and IT Lutz Meschke, wrote at the time:
"This project is the next step in our strategy on digitalization. We have made a long-term commitment, and our Web 3.0 team has the opportunity to innovate independently in this area as well. The innovation leadership at Porsche also sees potential in the areas of procurement, metaverse, and supply chain. Issues related to vehicles and sustainability are also under consideration."
Source: cointelegraph.com
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