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Porsche ends Web3 club as 911 NFTs stay onchain
Porsche has closed its Web3 project and PIONEERS CIRCLE, leaving 2,363 PORSCHE 911 NFTs in holders' wallets while the community around them goes quiet.
Why it matters: The wind-down shows that a major brand can close the community and services around an NFT collection while the tokens themselves remain tradeable onchain.
Key points
- Porsche announced the end of its Web3 project and PIONEERS CIRCLE on 1 Oct, with the Discord server becoming a read-only archive and the @eth_porsche X account no longer actively updated.
- The collection was previewed at Art Basel Miami in November 2022 with plans for 7,500 tokens at 0.911 ETH each, but the mint closed at just 2,363 NFTs after buyers objected to the price.
- OpenSea data cited by the outlet puts all-time trading volume near $20m, against roughly $38,000 over the past year and about $2,900 in the past month.
Porsche has ended its Web3 project and PIONEERS CIRCLE, the club built around its PORSCHE 911 NFTs, according to Bitcoin.com News. The announcement came on 1 Oct, nearly four years after the collection was first shown. The tokens themselves stay onchain in holders' wallets, but the community around them is being wound down.
The company said the PIONEERS Discord server will become a read-only archive and the @eth_porsche X account will stop receiving active updates. Porsche announced no burn, buyback, migration or redemption programme for the tokens. Owners therefore keep exactly what the blockchain records, without an active Porsche Web3 operation behind the experience.
Porsche parks the club
The project began with larger ambitions. Buyers pushed back on the price and secondary listings fell below mint, so Porsche dropped the full run and closed at 2,363 NFTs. The tighter supply briefly lifted the floor to around 3.3 ETH.
Porsche then leaned on community benefits such as Discord sessions, events and racetrack experiences, while its wider blockchain ideas around the metaverse and supply chain never became the main product. OpenSea data cited by the outlet shows all-time volume near $20m, about $38,000 over the past year and roughly $2,900 in the past month.
What to watch: No further steps are reported; Porsche named no burn, buyback, migration or redemption programme, and the Discord server and X account simply stop active updates.
Live updates on NewsFeeds:EthereumDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.