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Porsche criticized for ‘low effort’ NFTs, ends mint early

Car manufacturer Porsche had to cut short a nonfungible token (NFT) mint of its famous white 911 model only two days after the public mint started, saying its “holders have spoken.”

The Jan. 23 launch was seen by some as a huge flop for Porsche with just 2,040 of the 7,500 NFTs available having been sold at the time of writing.

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. More info in the next hours.

— PORSCHΞ (@eth_porsche) January 24, 2023

The mint was widely criticized by the crypto community for being “low effort,” “tone deaf” and overpriced. The price of the NFTs were set at 0.911 Ether (ETH) ($1,417).

Really sad. No community. No comms. No value. Glad our community hasn’t fallen for it. Big brands

Keep reading this article on Cointelegraph.com.

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