Tag: NFT

Porsche Backpedals Its NFT Minting Plan as Floor Price Collapses

After a strong community backlash over very high minting prices and lack of communication, Porsche decided to backpedal its NFT plans. On Tuesday, January 24, luxury automobile maker Porsche announced that it would be ending its NFT minting program. Based on the classic Porsche 911, the German automobile maker introduced the 7,500-piece NFT collection back in November 2022, created by 3D artist Patrick Vogel. However, the NFT minting program from Porsche ends within just two days of launch earlier this week on Monday. As minting opened up this Monday, each…

Porsche ends ‘low effort’ NFT mint early, Oreo dunks into the Metaverse and more

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Porsche criticized for ‘low effort’ NFTs, ends mint early Car manufacturer Porsche had to cut short a nonfungible token (NFT) mint of its famous white 911 model only two days after the public mint started, saying its “holders have spoken.” The Jan. 23 launch was seen by some as a huge flop for Porsche with just 2,040 of the 7,500 NFTs available having been sold at the time of writing. Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the…

Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon Network

The company said in a press release that expanding into Polygon will help it “focus on user acquisition and provide the blockchain tooling and financial infrastructure necessary to spur successful game development.” Its F Studio product suite will now offer a Polygon-based launchpad, marketplace, tournaments, developer SDK, game launcher and sign-in with Fractal service. Source

Solana Network On Hyperdrive With Marked Growth On TVL, NFT Trade Volume

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Solana (SOL) is on hyperdrive as the network quickly gains momentum in terms of liquidity which are seen at more than 300% as of press time. Following a sweeping price decline, Solana has turned the tide with metrics with flying colors. Here’s a quick glance at SOL performance of late: SOL metrics and trustworthiness score looking positive Solana’s TVL seen to jump higher Solana rolls out Saga Pass Cards There is sizeable growth seen both in terms of NFT with the rollout of the Saga Pass Cards and market cap.…

NFT Application Floor Acquires Data Platform WGMI.io to Educate Traders

The Floor iOS and Android app is currently in a closed beta test for a small community of token holders. It is led by co-founder and chief operating officer Christine Brown, who was previously the crypto chief operating officer at investing platform Robinhood, and co-founder and chief technology officer Siddhartha Dabral, who formerly founded software company Button Inc. Source

Ether Turns Deflationary Again Led by Spike in NFT Sales

Ether’s inflation rate also depends on a separate mechanism known as the Ethereum Improvement Proposal (EIP)-1559, where fees paid for transactions on the network are “burned,” or eliminated from circulation. The EIP-1559 is tied to the amount of ether burned with network usage: The more transactions on the blockchain, the more ETH is burnt. Source

Porsche 911 NFT Collection Struggles During Mint, Gets Negative Pushback Online

The 7,500-edition collection, which pays homage to the brand’s iconic 911 sports car, opened minting for allowlist holders at 9 a.m. EST on Monday in four waves of one hour each. After the initial allowlist mint ended, the mint was released to the general public with an open-ended stop time. Collectors were allowed to mint up to three virtual 911 Porsches at 0.911 ETH each, roughly $1,490. Source