Porsche has announced the conclusion of its Web3 project and the Pioneers Circle community nearly four years after launching the 911 NFT collection in January 2023. The tokens will remain with current holders and continue to exist on-chain.

Discord to Be Archived, X Account to Stop Updates

The company disclosed the closure in a post on X. According to Porsche, the initiative expanded beyond its original technology focus and included both offline and online activities for the community. The project's Discord server will be set to read-only mode, and the X account will no longer receive active updates.

Mint Halted After Criticism; Final Supply — 2,363 Tokens

The Porsche 911 NFT collection launched with a planned supply of 7,500 tokens, but minting was stopped following complaints about pricing and lack of utility. There are 2,363 NFTs in circulation.

Trading Activity Declined: ~$38,000 in a Year and $2,900 in a Month

According to OpenSea data, the total trading volume for the collection has reached about $20 million. Over the past year, volume dropped to roughly $38,000 and around $2,900 in the last month.

In 2022, Promised "Long-Term" and Metaverse Use Cases

When presenting Web3 plans in 2022, then Deputy Chairman of the Executive Board Lutz Meschke spoke of a "long-term" approach and potential use cases — in the metaverse, for purchases, and in supply chains.