Porsche NFTs see 180% Increase in Floor Price

The value of Porsche's NFTs has seen a significant increase, with data from Coingecko revealing that the trade volume of Porsche NFTs has surged 180% in the past 24 hours. This comes after Porsche received criticism from the cryptocurrency community over the high mint price and supply of its NFTs. In response, the luxury automaker announced on January 25 that it would stop issuing any more NFTs.

However, despite the limited supply, the base price of the NFT set has more than doubled on secondary markets like OpenSea. According to data from OpenSea, the NFTs peaked at 3.33 ETH during that period, before declining to their current level of 2.465 ETH. Coingecko also reports that the collection's market cap has increased by 247% to $9.4 million on sales of 1,686 ETH ($2.7 million).

In a January 25 Twitter thread, Porsche has provided more information to its customers about the company's web3 ethos. Porsche promised that NFT holders would receive VIP treatment at the company's design studio, engineering headquarters, and other exclusive events. Additionally, Porsche stated that NFT holders would have a say in the development of Porsche's web3 initiatives and the carmaker even promised a real-world realization of the best-looking virtual Porsche NFT selected by public vote.