• Porsche released its first non-fungible token (NFT) collection paying homage to the brand’s iconic 911 sports car.
• The collection opened for allowlist holders at 9 a.m. ET on Monday in four waves of one hour each.
• The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened sales to the public.

Porsche, the iconic German carmaker, has released its first ever non-fungible token (NFT) collection, paying homage to one of the brand’s most iconic and beloved models – the 911 sports car. On Monday morning, the collection opened for allowlist holders at 9 a.m. ET in four waves of one hour each.

The collection is limited to 7,500 editions, and each edition can be customized with three “paths” to choose from. Collectors were allowed to mint up to three virtual 911 Porsches at 0.911 ETH each, roughly $1,490. Allowing for a wide range of customization options, the Porsche NFT collection is unique in its ability to give collectors a truly personalized experience.

However, it appears that the collection hasn’t been able to gain traction as quickly as some had hoped. The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened sales to the public.

The collection’s creators have attributed the lackluster response to the lack of time the collection was open to allowlist holders and the fact that it was released at the same time as another prominent NFT collection, which has since sold out.

It remains to be seen if the collection will be able to gain traction in the months to come. For Porsche, the collection represents an opportunity to increase brand recognition and engagement with its customers in a new and innovative way. With the right marketing, it could become a valuable asset for the carmaker.

Meanwhile, for collectors, the collection offers an exciting opportunity to get their hands on a unique and personalized piece of automotive history. With its limited edition status, the collection is already proving to be a desirable item, and the potential for it to appreciate in value remains high.

Only time will tell whether the Porsche NFT collection will be able to gain the traction it needs to become a success. For now, the collection remains an interesting experiment in the world of NFTs, and an opportunity for collectors to own a unique piece of automotive history.