Porsche To Enter Web3 With NFT Market

November 30, 2022

Porsche, a German automobile manufacturer specialized in producing high-performance sports cars, SUVs and sedans, is going to enter into NFT market.

"Our journey begins with a timeless icon – the Porsche 911. There are over 150k design combinations to unlock when creating your 911 NFT, Porsche tweeted.

In an official statement, Porsche deputy chairman Lutz Meschke said this project is an additional element of company’s digitalization strategy.

He also said Porsche Innovation Management also sees potential in the purchasing experience, the metaverse and the supply chain.

With this, Porsche will be the most recent automaker to enter the non-fungible token (NFT) market.

Porsche's first Web3 project is a 7,500-piece NFT collection based on the classic Porsche 911.

The Porsche NFTs will be available in the market from January 2023.