Porsche has shut down its PIONEERS CIRCLE NFT project based on the 911 model, leaving holders with digital artworks down 96%. Minting cost 0.911 ETH (around $1,400) at launch in 2023, with the floor price reaching a high of over 3 ETH before dropping to 0.077 ETH (around $200). The company said the project was about « experimentation » and a « shared adventure », without providing specific reasons for the shutdown. Despite the closure, the NFTs will remain with their respective holders and continue to exist on the blockchain. This decision comes amid broader challenges for Porsche, which fell out of Germany’s DAX index and plans to cut 3,900 jobs by 2030.
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