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Porsche ends Web3 project after 911 NFT trading falls sharply

Porsche said the 911 NFTs will remain on chain with their existing holders, even as it winds down the Pioneers Circle community.

Reported · Written up by our desk · Market Structure

Porsche is winding down its Web3 effort and its Pioneers Circle community nearly four years after launching its Porsche 911 nonfungible token collection, according to Cointelegraph.

The outlet reports that Porsche cited a sharp drop in trading activity for the 911 NFTs from early levels as it announced the conclusion of the project on X.

Porsche said the initiative expanded beyond its original technology focus to include community events and other online and offline activities, Cointelegraph added.

The automaker also said the Porsche 911 NFTs will remain with their holders and continue to exist on chain, while it plans to convert the community Discord server into a read-only format.

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