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HomeNFTPorsche NFT collection falls below floor price: What went wrong?

Porsche NFT collection falls below floor price: What went wrong?

  • Porsche has made its Web3 debut with the new NFT collection.
  • The collection has struggled to sell, with users criticizing the plans on Twitter.

German auto giant Porsche recently made its Web3 debut with the launch of its first products. Non-fungible token [NFT] collection.of collection Consists of 7500 NFTs featuring the popular Porsche 911 sports car, mint priced at 0.911 ether [ETH] or $1490 per NFT.

Lowest price drops within hours of Mint

The creation of these NFTs was spread over 4 waves at mint of the allow list. This was followed by the Public Mint, where a purchaser could mint up to three of his 911 NFTs. The rollout he has been divided into three phases, with the first phase currently underway.

Porsche hasn’t revealed much about Phase 2, but Phase 3 seems to be based on rarity. Users can transform their 911 NFT into one of over 150,000 variations of her claimed on the official website. The collection was initially expected to be popular among the brand’s fans, so there was considerable anticipation.

However, within hours of The Mint, NFT sales appeared to slow down. unsoldSecondary market indicators exacerbated the situation for collections.

Data from NFT Marketplace high seas 911 NFT has revealed that its selling price has fallen below the mint price of 0.911 ETH. The lowest price initially spiked to 3 ETH on January 23rd, but has returned to the original mint price at the time of writing. NFT’s best offer was 0.86 wrapped ether [wETH] ($1410).

Crypto Twitter is complicit

Twitter users weren’t too thrilled that luxury car dealers like Porsche were looking to make millions in NFTs during the bear market. 1 user It pointed out Established brands should work with Web3 native companies to increase the likelihood of successful NFT deployments.

Other users criticized the lack of active Dcommunity For 911 NFTs. For a newbie, the Discord community is a big part of his NFT scene.

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