Porsche shuts down 911 NFT project after 96% value collapse
Porsche ends NFT experiment as digital artwork loses most of its value
Porsche has shut down its PIONΞERS CIRCLE NFT project, a collection modeled after the 911 sports car. Buyers who paid 0.911 ETH (about $1,400) to mint an NFT in 2023 can now sell theirs for just 0.077 ETH (around $200), a drop of 96%.
The NFTs originally gave holders access to various events, awards, and other opportunities. Porsche called the project a place for "experimentation" and a "shared adventure" in a statement on X (formerly Twitter). The company did not explain why it decided to end the project, saying only that it was "adapting to new opportunities and shaping the future in its own way."
Porsche confirmed that the NFTs will remain on the blockchain and continue to exist with their current holders.
From $5,100 peak to $200
When PIONΞERS CIRCLE launched in 2023, the mint price was 0.911 ETH. Within a month, the floor price — the lowest price anyone could buy one for on the open market — rose above 3 ETH, worth roughly $5,100 at the time. Since then it has fallen sharply.
Closure comes as Porsche faces deeper struggles
The NFT shutdown follows a difficult year for the automaker. Porsche was dropped from Germany's DAX stock index after a poor profit year. It reported a 34% profit increase but its stock has fallen nearly 39% over the past year.
In July, Porsche said it would cut 3,900 jobs by 2030 and another 5,000 by 2035. Chinese deliveries reportedly fell 32% in the first half of 2026, while overall deliveries dropped 16.5%. Michael Leiters took over as CEO in January 2026 as the company scaled back its electric vehicle production plans.
What the company has said
Porsche's X account stated: "As this journey draws to a close, Porsche continues to evolve, adapting to new opportunities and shaping the future in its own way." The company emphasized that the NFTs themselves are not being deleted and will remain accessible to holders.
Why this matters for brand-backed NFTs
Porsche's move is a notable example of what can happen when large traditional companies experiment with NFTs. The brand had significant resources behind it, yet the project still lost almost all of its value. For collectors and investors in similar brand-backed digital projects, the outcome raises questions about long-term viability even when a well-known company is behind the initiative.
What happens next
Porsche has not announced any replacement NFT project or further plans for digital collectibles. The existing PIONΞERS CIRCLE NFTs will continue to exist on the blockchain, but the official project is no longer active.
Source
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.