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      Porsche Ends Web3 Project, Retains NFT Ownership for 911 Token Holders

      Porsche has announced the termination of its Web3 initiative, specifically the PIONΞERS CIRCLE, effective October 1, 2026. The automaker's Discord and Twitter accounts related to the project will transition to read-only status. Despite the project's closure, holders of the PORSCHΞ 911 NFTs will retain ownership of their tokens, which will remain on the blockchain and continue to be tradable on secondary marketplaces.

      The PORSCHΞ 911 NFT collection was launched in January 2023 during Art Basel Miami, with an initial plan to mint 7,500 tokens priced at 0.911 ETH each. However, due to low demand, minting was halted after approximately 24 hours, resulting in a total of only 2,363 NFTs being minted. This significant reduction in supply reflects the challenges faced by the project, including criticism over pricing and unclear utility for buyers.

      As the NFT market has experienced fluctuations, Porsche's withdrawal aligns with a broader trend of major brands reassessing their involvement in decentralized projects. The initial trading volume for the PORSCHΞ 911 collection reached millions of dollars, but the lack of ongoing support and development may impact the future value of the tokens, which now exist primarily as collectibles linked to Porsche's foray into the Web3 space.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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