Porsche to halt NFT minting after backlash

Jan. 25, 2023 at 12:10 am

By Mike Dalton

The cancelled project is the latest in a long line of failed corporate NFT collections.

Porsche will no longer allow users to mint its Ethereum-based NFTs, according to a series of tweets posted by the luxury car company on Tuesday, Jan. 24.

The company alluded to public backlash on Twitter, writing “our holders have spoken.” The company promised to cut the NFT supply and prevent new NFTs from being minted. Users will not be able to mint NFTs after 6 a.m. UTC-5 (EST) on Wednesday.

NFTs that have already been minted are expected to remain in circulation. The company implied that it will continue to work with those who hold minted tokens.

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