Porsche NFTs: From Poor Sales to Top Trading Volume

Porsche made a foray into the world of NFTs. However, the venture didn’t go as well as planned, as sales were poor. In a surprise turn of events, Porsche NFT closed its minting operations and this is what happend next

Porsche, the luxury sports car manufacturer, has recently entered the world of non-fungible tokens (NFTs) with the minting and trading of digital collectibles. However, due to poor sales, Porsche NFT closed its minting operations and suddenly its price soared.

Porsche NFT Sale Scattered – Dune/Eclipse

According to on-chain data, the Porsche NFT market has seen a total volume of 2,348 ETH from 1,681 trades, with an average of $2,389 per trade. The market also boasts 1,532 unique owners, with 64% of them being one-time buyers.

It is worth noting that only 2,363 out of the total 7,500 NFTs were minted, about 31% of the total NFTs, which makes the Porsche NFTs even rarer. The data shows that 75% of owners own only one item, while 21% hold between 2-3 items. A small percentage, 3%, hold between 4-10 items, 0.5% hold between 11-25 items, and just 0.1% hold between 26-50 items.

The majority of the volume, 66%, occurred on OpenSea, a popular NFT marketplace, with 32% on Blur and 1% on Looksrare, and 0.7% on X2Y2. The highest sold Porsche NFT reached 7.99 ETH. With this sudden surge of interest, Porsche NFT currently ranks first in 24-hour trading volume, reaching 2.05K ETH, and the floor price reached 2.9ETH.

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