How the Porsche NFT Drop Crashed and Burned

How the Porsche NFT Drop Crashed and Burned - Check out the news here

A major player like auto brand Porsche entering the Web3 space is typically a cause for celebration among NFT collectors.

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[{"selector":"#anim-55b93c46-dca5-4037-a51c-4e3149afa7ea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Porsche’s project focused on the German automaker’s iconic 911 sports car, with a planned drop of 7,500 Ethereum NFTs that would celebrate the vehicle and allow holders access to events and exclusive merchandise. Arrow

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Some suggested that 0.0911 ETH (about $145) would have made a lot more sense. But Porsche didn’t directly acknowledge the backlash in public, and its plans didn’t change

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By this morning, only about 1,500 of the NFTs had been minted.

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Just over 1,850 NFTs have been minted as of this writing, with the sale now set to end at 6 a.m. ET on Wednesday.

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How Porsche proceeds with a smaller community of NFT owners remains to be seen.

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