Porsche announced it would end its first NFT outing Wednesday at 6 am ET. The project’s Twitter account showed that just over 25% of its first-ever 7,500-piece NFT collection had been sold.Only 1,909 of the 7,500 available tokens were minted at the time of writing.<h2 id="header-0">Collectors blast Porsche for ‘cash grab’ NFT collection</h2>The price of each NFT, a digital clone of its iconic 911 model, when the mint first opened on Monday morning was 0.911 ether (ETH), or roughly $1,490. In the hours that followed, criticism of the collection grew on Twitter as creators and collectors expressed their disappointment about the firm rushing into a Web3 strategy without taking the condition of the NFT market as a whole into account.“Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community,” the project’s official Twitter account <a href="https://twitter.com/eth_porsche/status/1617942323563991040" rel="noopener noreferrer nofollow">announced</a>.The move was <a href="https://twitter.com/eth_porsche/status/1616451028508987393" rel="noopener noreferrer nofollow">slammed</a> as “clueless,” “tone deaf,” and a “cash grab” by prominent builders and collectors in the market as the tweet gained more than one million impressions, mostly as a result of mocking shares.Porsche originally planned a three-phase NFT minting process that would cap consumers at three NFTs for an arbitrary period of time.In November, the carmaker made its <a href="https://micky.com.au/porsche-ready-to-engage-in-the-nft-market/" rel="noopener noreferrer nofollow">official debut</a> of the NFT collection at Art Basel, describing it as “rare, iconic, and timeless like its sports cars.”

Porsche NFT fails to impress; mint stopped

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