Porsche

Porsche NFT trading volume nears $5M despite launch woes, minting halt

Developers of the nonfungible tokens had halted minting on Jan. 25 in response to user complaints.

German luxury car manufacturer Porsche’s nonfungible token (NFT) collection reached 2,839 Ether (ETH) ($4.5 million) in total sales volume, according to data from NFTScan at the time of writing on Jan. 26. The collection had a floor price of 2.74 ETH and a high price of 9.18 ETH, with over 1,705 total sales. 

Originally meant to have a total supply of 7,500 NFTs, Porsche abruptly halted the minting process on Jan. 25 after some users complained of high minting prices and lack of utility for NFT holders. The supply has since been reduced to 2,363. The NFTs originally had a minting price of 0.911 ETH — referencing the namesake “911” NFT collection — but many users complained that they wanted the price reduced to 0.0911 ETH instead.

A Porsche 911 NFT. Source: Porsche

After community feedback, Porsche announced that it would expand holder benefits to behind-the-scenes access to the world of Porsche, co-creation of ”Porsche’s future of Web3,” an exclusive physical capsule collection beginning Q2 2023, the opportunity to attend “money-can’t-buy Porsche experiences,” and a “private airdrop” in March 2023. First unveiled during Art Basel Miami in November 2022, the Porsche NFTs were created by Hamburg-based designer and 3D artist Patrick Vogel and his studio Alt/Shift. Lutz Meschke, Porsche’s deputy chairman and member of the executive board for finance and IT, wrote at the time: 

“This project is an additional element of our digitalization strategy. We’ve made our commitment for the long haul and our Web3 team has the autonomy to develop innovations in this dimension as well. Innovation management at Porsche also sees potential in the purchasing experience, the metaverse and the supply chain. Vehicle and sustainability issues are also being considered.”

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

Porsche’s first foray into NFTs appears to have flopped after recording underwhelming sales and was heavily criticized by the community.

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.

The mint was widely criticized by the crypto community for being “low effort,” “tone deaf” and overpriced. The price of the NFTs were set at 0.911 Ether (ETH) ($1,417).

Sales on secondary markets have been undercutting the live mint, with some selling for as little as 0.86 ETH.

After announcing it would cut the supply, Porsche clarified that minting would still be open until 11am UTC on Jan. 25. The collection recorded a surge of FOMO buying which temporarily drove up the floor price.

Get Stuf’d: Oreo launches a Metaverse…and a really big cookie

Cookie company Oreo launched its own Metaverse, the OREOVERSE, an interactive digital world where cookie lovers can play cookie-themed games and enter into a sweepstake.

The OREOVERSE is on desktop, mobile and in Meta’s Horizon Worlds, where users with a Meta Quest headset can enter the Metaverse and experience it in virtual reality (VR).

A screenshot from the web-based version of Oreo’s new metaverse. Source: OREOVERSE

Oreo enlisted the services of TV personality Martha Stewart along with her gardener and friend Ryan McCallister to endorse the Oreo-inspired digital world.

The grand prize for the sweepstake gives users the chance to win $50,000 amongst a range of smaller prizes.

The Metaverse announcement was paired with the unveiling of its latest limited-edition cookie called the “Most OREO OREO” which has a “Most Stuf” creme center — filled with bits of Oreo.

Nike kicks off NFT marketplace with Air Force 1’s

In its first collection of NFTs on its “.SWOOSH Studio” NFT marketplace, Nike is set to launch a NFT collection influenced by its iconic Air Force 1 sneakers following a community vote.

The Polygon (MATIC)-based NFTs will go live on Jan. 25 according to a Jan. 23 tweet by Jasmine Gao, Nike Virtual Studios’ senior product manager.

Nike announced the upcoming NFT marketplace on Nov. 14 last year, which Nike Virtual Studios general manager Ron Faris claimed would help “onboard the next million” into the “wonderful world of web3 and digital assets.”

It aims to be a community-driven platform for Web3 digital art, with members given the chance to help co-create virtual creations with the global fashion brand through community challenges.

According to the Nov. 14 press release, members who win the challenge will also be able to earn royalties on the virtual product they help create.

Nike also suggested that digital wearables would eventually be usable in games and other “immersive experiences.”

Twitch co-founder’s Fractal brings its games to Polygon

The gaming company Fractal will be expanding its F Studio product suite to the Polygon blockchain and is bringing along 30 Polygon gaming partners for the ride.

The partners include games such as Phantom Galaxies, Life Beyond, League of Kingdoms, Blast Royale and Sunflower Land.

Fractal and Polygon launch partners. Source: Polygon Gaming.

Fractal is an NFT gaming marketplace founded by Twitch co-founder Justin Kan and provides a launchpad for new projects as well as facilitating tournaments.

It also boasts a software development kit allowing developers to build in-game marketplaces where players are able to buy and sell NFTs in-game, rather than needing to go through Fractal’s marketplace.

The platform originally started on the Solana (SOL) network, but according to a Jan. 23 report by VentureBeat, Fractal is expanding over to Polygon due to its speed, scalability and ability to accelerate game development with the security of the Ethereum network.

Polygon Gaming will be making a strategic investment in Fractal for an as yet undisclosed amount according to the report, in an effort to deepen the partnership between the two firms.

More Nifty News:

An up-and-coming NFT racing game called PetaRush sold out all the NFTs available through both its whitelist and public sales. The game allows users to integrate some NFT collections from outside the games’ ecosystem by pursuing partnerships that allow them to use the IP of other collections.

In a recent interview with Cointelegraph, the co-founder of the blockchain role-playing game Illuvium, Kieran Warwick, suggested casual gamers are “critical” to the success of blockchain games that utilize NFTs. Animoca Brands Chairman Yat Sui echoed the sentiment, claiming that all it would take is one good game to kick-start a blockchain gaming boom.

Nifty News: Porsche 911 NFTs, BMW files Web3 trademarks, Baby Shark’s NFT game and more…

BMW and Porsche have both recently ramped up their own Web3 plays, while Baby Shark is dipping into the blockchain gaming sector, but just for kids.

Porsche to launch 7,500 NFTs for use in a ‘virtual world’

German luxury car manufacturer Porsche has suggested it will be significantly ramping up its Web3 efforts after unveiling an upcoming NFT project consisting of 7,500 customizable tokenized vehicles.

In a Nov. 29 announcement, Porsche stated that the NFTs will be launched in January, and users will be able to customize various aspects of the cars in relation to performance and appearance.

The NFT art itself is being designed by designer and 3D artist Patrick Vogel, with all pieces revolving around the famous Porsche 911 model.

Notably these virtual assets will be designed in Epic Games’ Unreal Engine 5, suggesting that gaming integrations are afoot.

NFT car designs: Porsche

The company gave a sneak peek into the project at the Art Basel conference in Miami on Nov. 30. While specific details have not been mentioned, the company noted that owners will be able to use the cars in the “virtual world,” most likely meaning some sort of Metaverse.

More broadly, Porsche suggested that it is looking to significantly ramp up its exposure to Web3 moving forward, with the announcement noting that:

“Digital art is just one aspect of Porsche’s Web3 strategy. The sports car manufacturer is working to integrate the potential of blockchain technology into existing and future processes and solutions.”

Porsche previously had a hand in launching soccer-themed NFT collectibles in June 2021 as part of a project called Fanzone, but now appears to be taking the tokenization of its cars more seriously.

BMW to get Web3 trademarks

Speaking of German luxury car manufacturers, BMW has reportedly applied to trademark its logo in relation to a host of Web3 products and services.

The move was highlighted by USPTO licensed trademark attorney Mike Kondoudis, who frequently shares news regarding Web3 trademark applications in the U.S. from major companies.

BMW outlined intentions for its logo to span across collectibles such as virtual clothing, footwear, headwear and vehicles, while also indicating plans for downloadable virtual goods such as online environments and games.

Baby Shark’s Web3 arc

Content from Pinkfong’s massively popular children’s song/music video Baby Shark is set to be tokenized as part of a family-focused blockchain game.

Pinkfong reportedly penned a licensing agreement with Toekenz Collectibles to create and issue Baby Shark characters in a child safe digital environment.

Baby Shark NFT partnership: Toekenz

Toekenz Collectibles is an NFT platform targeted at children aged 12 and under, and the focus of the game is to educate kids aged five to nine “about the trading economy of digital collectibles.”

The kids will also be able to customize the NFT art to their own liking, and even participate in a Tokenz DAO where they “can exercise democratic decision-making.”

This is not Pinkfong’s first dip into NFTs, Cointelegraph previously reported that the South Korea-based company launched a series of limited editions Baby Shark NFTs in December last year.

Related: Two Bored Apes sell for $1M each: Nifty Newsletter, Nov. 23–29

Deadmau5 rolling out music metaverse

A Web3 startup co-founded by popular crypto-friendly DJ Deadmau5 (Joel Zimmerman) is gearing up for the launch of a music and gaming focused Metaverse platform.

Announced at the Art Basel event on Nov. 29, the start-up known as Pixelynx stated that the Polygon-based platform will launch this week, and kick things off with an Augmented Reality (AR) scavenger hunt set on Miami Beach.

The firm’s CEO and co-founder Inder Phull described the AR scavenger hunt as a “Rock Band meets Pokémon Go experience,” in which virtual gaming features are merged with real locations on maps via smart devices.

Users who hold Deadmau5’s Droplet NFTs will gain early access to Pixelynx’s metaverse with the platform aiming to provide a host of virtual experiences for fans of particular musicians and artists.

More Nifty News

NFTs depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea at the tail end of November.

On Nov. 30, decentralized exchange (DEX) Uniswap announced that users can now trade NFTs on its native protocol. The function will initially feature NFT collections for sale on platforms including OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.

Nifty News: Porsche 911 NFTs, BMW files Web3 trademarks, Baby Shark’s NFT game and more

BMW and Porsche have both recently ramped up their own Web3 plays, while Baby Shark is dipping into the blockchain gaming sector, but just for kids.

Porsche to launch 7,500 NFTs for use in a ‘virtual world’

German luxury car manufacturer Porsche has suggested it will be significantly ramping up its Web3 efforts after unveiling an upcoming nonfungible token (NFT) project consisting of 7,500 customizable tokenized vehicles.

In a Nov. 29 announcement, Porsche stated that the NFTs will be launched in January, and users will be able to customize various aspects of the cars in relation to performance and appearance.

The NFT art itself is being designed by designer and 3D artist Patrick Vogel, with all pieces revolving around the famous Porsche 911 model.

Notably, these virtual assets will be designed in Epic Games’ Unreal Engine 5, suggesting that gaming integrations are afoot.

NFT car designs: Porsche

The company gave a sneak peek into the project at the Art Basel conference in Miami on Nov. 30. While specific details have not been mentioned, the company noted that owners will be able to use the cars in the “virtual world,” most likely meaning some sort of metaverse.

More broadly, Porsche suggested that it is looking to significantly ramp up its exposure to Web3 moving forward, with the announcement noting that:

“Digital art is just one aspect of Porsche’s Web3 strategy. The sports car manufacturer is working to integrate the potential of blockchain technology into existing and future processes and solutions.”

Porsche previously had a hand in launching soccer-themed NFT collectibles in June 2021 as part of a project called Fanzone, but now appears to be taking the tokenization of its cars more seriously.

BMW to get Web3 trademarks

Speaking of German luxury car manufacturers, BMW has reportedly applied to trademark its logo in relation to a host of Web3 products and services.

The move was highlighted by USPTO licensed trademark attorney Mike Kondoudis, who frequently shares news regarding Web3 trademark applications in the United States from major companies.

BMW outlined intentions for its logo to span across collectibles such as virtual clothing, footwear, headwear and vehicles while also indicating plans for downloadable virtual goods such as online environments and games.

Baby Shark’s Web3 arc

Content from Pinkfong’s massively popular children’s song/music video Baby Shark is set to be tokenized as part of a family-focused blockchain game.

Pinkfong reportedly penned a licensing agreement with Toekenz Collectibles to create and issue Baby Shark characters in a child-safe digital environment.

Baby Shark NFT partnership: Toekenz

Toekenz Collectibles is an NFT platform targeted at children aged 12 and under, and the focus of the game is to educate kids aged five to nine “about the trading economy of digital collectibles.”

The kids will also be able to customize the NFT art to their own liking, and even participate in a Tokenz DAO where they “can exercise democratic decision-making.”

This is not Pinkfong’s first dip into NFTs. Cointelegraph previously reported that the South Korea-based company launched a series of limited edition Baby Shark NFTs in December last year.

Related: Two Bored Apes sell for $1M each: Nifty Newsletter, Nov. 23–29

Deadmau5 rolling out music metaverse

A Web3 startup co-founded by popular crypto-friendly DJ Deadmau5 (Joel Zimmerman) is gearing up for the launch of a music and gaming-focused metaverse platform.

Announced at the Art Basel event on Nov. 29, the startup known as Pixelynx stated that the Polygon-based platform will launch this week and kick things off with an augmented reality (AR) scavenger hunt set on Miami Beach.

The firm’s CEO and co-founder, Inder Phull, described the AR scavenger hunt as a “Rock Band meets Pokémon Go experience,” in which virtual gaming features are merged with real locations on maps via smart devices.

Users who hold Deadmau5’s Droplet NFTs will gain early access to Pixelynx’s metaverse, with the platform aiming to provide a host of virtual experiences for fans of particular musicians and artists.

More Nifty News

NFTs depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea at the tail end of November.

On Nov. 30, decentralized exchange (DEX) Uniswap announced that users can now trade NFTs on its native protocol. The function will initially feature NFT collections for sale on platforms including OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20 and NFTX.