Share this article
Porsche Hits Brakes on NFT Mint After Backlash
Fans of the German car manufacturer hit back against the mint’s high price and supply hours after it opened on Monday.
By Cam Thompson
Updated Feb 2, 2023, 1:34 p.m. Published Jan 24, 2023, 7:16 p.m.
Porsche is halting the mint of its first non-fungible token (NFT) collection, the German sports car manufacturer announced on Twitter, after receiving negative feedback from its community.
“Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community,” said the project’s official Twitter account, claiming that more information is coming later in the day.
STORY CONTINUES BELOW
The mint opened on Monday morning, with each NFT – a digital replica of its iconic 911 model – priced at 0.911 ether , or about $1,490 each. In the hours following, criticism of the collection mounted on Twitter, with creators and collectors sharing their thoughts on the company racing into a Web3 strategy without considering the overall state of the NFT market.
Web2 company looking to enter Web3?
— DebbieSoon.eth 🤗 (@debsoon) January 24, 2023
How to avoid doing a NFT launch like Porsche:
→ Price + size supply appropriately
→ Introduce your Web2 fans to Web3; don't just onboard Web3 degens to your brand
→ Take more than 2 months to actually build a community
→ Communicate
Of the 7,500 tokens available, only 1,818 were minted at the time of writing. The project fared worse on secondary marketplaces such as OpenSea, with NFTs selling for below the mint price – meaning, it was cheaper to buy the NFT at resale than mint an original.
As of Tuesday afternoon, it appeared the mint was still open, which further inflamed the NFT community.
Crazy sequence of events w/ @eth_porsche
— metaversatile.eth (@metaversatile_) January 24, 2023
- Tweet on supply cut & stopping mint
- FP swells by .3 ETH
- Everyone realizes mint is still open
- Everyone mints #NFTs & sell immediately
- FP returns to mint price
Winners?
- Porsche for selling ~160 NFTs in <1 hour
- Shrewd traders pic.twitter.com/p1Kch1OrLH
Porsche did not immediately respond to CoinDesk for comment.
Больше для вас
Что нужно знать:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Больше для вас
Coinbase, Chainlink Introduce Base-Solana Bridge to Link Ecosystems
The bridge, secured by Chainlink's Cross-Chain Interoperability Protocol, allows users to trade and interact with Solana-based tokens on Base-based dapps.
Что нужно знать:
- A new bridge connecting Base, the layer 2 incubated by Coinbase, and the Solana blockchain is now live on mainnet, enabling asset transfers between the two ecosystems.
- The bridge, secured by Chainlink's Cross-Chain Interoperability Protocol, allows users to trade and interact with Solana-based tokens on Base-based decentralized applications.
- The open-source bridge on GitHub enables developers to integrate cross-chain support, marking a step toward interconnected blockchains and "always-on" capital markets, with more chains expected to be linked in the future.
Top Stories
