Porsche has written off its 911 NFT project PIONΞERS CIRCLE, leaving buyers with digital artworks that are down 96%.
PIONΞERS CIRCLE gave NFT holders access to various events, awards, and other opportunities that came with purchasing one of the NFTs modelled after the Porsche 911.
Porsche didn’t exactly explain why it shut the project down, but emphasised that it was a place for “experimentation” and a “shared adventure.”
“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’s X statement read.
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It cost 0.911 ETH, worth roughly $1,400, to mint one of Porsche’s 911 NFTs when the project launched in 2023.
The collection’s floor price reached a high of over 3 ETH (then worth $5,100) one month later.
Since then, the floor price has fallen over 96% to just 0.077 ETH (~$200). The current floor price is 85% less than the 0.911 ETH mint price at launch.
Despite the shutdown, Porsche says the NFTs “will remain with their respective holders and continue to exist on the blockchain.”
Porsche NFT shutdown follows layoffs
Last year Porsche fell out of Germany’s DAX stock index following a poor year for profits.
Michael Leiters took over the company in January 2026 as it was already scaling down its “ultra-ambitious” production of electric vehicles.
This year, Porsche reportedly said it would cut 3,900 jobs by 2030, and another 5,000 by 2035.
Chinese deliveries also reportedly plunged by 32% in the first half of 2026, while deliveries overall fell by 16.5%.
Porsche still managed to report a 34% rise in profit, but its XETRA stock price is down almost 39% across the last year.
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