Crypto02 October, 20262 min read
Porsche Ends PIONEERS CIRCLE Web3 Project, Keeps 911 NFTs On-Chain
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Porsche ends its Web3 project and Pioneers Circle community after nearly four years. Existing PORSCHΞ 911 NFTs remain with holders and stay on-chain.
8 outlets told this the same way.
Porsche shuts down Web3
Porsche ended its Web3 project and PIONEERS CIRCLE nearly four years after launching its 911 NFT collection, and the company said it was “announcing the conclusion of the Porsche Web3 project and PIONEERS CIRCLE.” Porsche said the Porsche 911 NFTs will remain with their holders and continue to exist onchain, while Porsche will turn the PIONEERS CIRCLE Discord server into a read-only archive and stop actively updating its X account. Porsche’s 911 NFT collection launched in January 2023 with a planned supply of 7,500 tokens, but Porsche halted minting after complaints over pricing and lack of utility, leaving the supply at 2,363.
Porsche’s shutdown announcement also framed the end as the conclusion of an exploration that expanded beyond an initial technology focus into community events and other online and offline activities. Lutz Meschke, then deputy chairman, had previously described Porsche’s commitment as “for the long haul” when Porsche unveiled its Web3 plans in 2022.
Trading volume falls
Cointelegraph said trading activity in Porsche’s 911 NFT collection fell sharply, with OpenSea data showing roughly $20 million in all-time trading volume. Cointelegraph added that the collection recorded only about $38,000 over the past year and around $2,900 over the past month. The Crypto News account of the wind-down similarly said Porsche halted minting after complaints over pricing and lack of utility, leaving the supply at 2,363.
The Crypto News account also said OpenSea data showed the collection had roughly $20 million in all-time trading volume, but only about $38,000 over the past year and around $2,900 over the past month. Porsche’s decision left holders with NFTs that remain onchain, while Porsche shifted community channels into archive mode and stopped active project updates on X.
What ends, what stays
Porsche said the PIONEERS CIRCLE Discord server would transition to a read-only archive, preserving previous discussions and community content while ending active discussion. The Crypto Times said Porsche’s @eth_porsche X account would no longer be actively updated, and Porsche directed members to its Discord for further details. Porsche’s shutdown also separated the underlying NFTs from the brand-led experience around them, because the tokens would remain with their holders and continue to exist on the blockchain.
The Crypto Times quoted Porsche’s team thanking members “from around the world, contributed ideas, created with us, or simply followed the journey: THANK YOU,” as Porsche described the end as the natural conclusion of an exploration. DiarioBitcoin said sources disagreed on the final mint, with one report citing 2,363 tokens and another reporting 1,909, while both versions said the collection fell short of the 7,500 planned.