Here’s an exclusive look at Porsche’s NFT prices, tools and more

Update: On 24 January The Porsche team announced plans to cut the supply of NFTs and stop the coin, citing the need to create “the best experience for an exclusive community.”

NFTs allow budget-conscious fans of high-end brands to get their hands on what was once unattainable – affordable luxury goods. It sounds like an oxymoron, but a number of innovative companies have found ways to make luxury goods more accessible thanks to Web3. Specifically, top fashion brands such as Balenciaga, Prada, and Gucci offer digital collectibles at a fraction of the price of their real designer items, allowing a new wave of fans to connect (and collect).

But the world of Web3 luxury extends far beyond the digital runway.

In November 2022, car manufacturer Porsche announced its first official NFT collection. Now, in materials shared exclusively with nft now, the Porsche team relayed everything you need to know about the project – price, utility, mint date, accompanying airdrops and more.

Fasten the seat belt

Each of the 7,500 NFTs in Porsche’s collection will have a premium price point of 0.911 ETH, and they will be available in four waves. Interested? Selected people can start participating in the promotion on 23 January at 9:10 UTC-5. A public coin will follow at 16:00 UTC-5.

Here’s what you need to be eligible for each wave:

• Wave 01: Hold a Porsche POAP, Partner NFT, and be registered on the Porsche NFT website.
• Wave 02: Keep a partner NFT and be registered on Porsche’s NFT website.
• Wave 03: Hold a Porsche POAP and be registered on the Porsche NFT website.
• Wave 04: Get registered on Porsche’s NFT website.

While Porsche says they have plans for future dops, they note that if you make a digital collectible from this first project, you’ll become part of what Porsche calls the “Pioneers Circle.”

As a pioneer, you’ll have the chance to help shape Porsche’s Web3 future, get limited-edition merchandise, access unique features from artists and partners, join a token-gated Discord, and attend virtual and in-person events . Furthermore, Porsche states that there will be an exclusive airdrop for Pioneers.

Define your journey

One of the most interesting aspects of the project is that holders will have the opportunity to co-create the final look and feel of their NFT design.

Every Porsche NFT begins as a blank slate – a white Porsche 911 Carrera with a personalized license plate. Over several months, holders will be able to tailor the NFT to their personality by choosing from three possible “paths:” performance, legacy or lifestyle.

In terms of customization options, there are more than 150,000 possible design combinations with variables spanning different backgrounds, colors and related design elements. The company notes that there will also be elements of randomization that come into play.

The team notes that the project was structured this way to allow participants to connect more closely with both the brand and their particular NFT.

“In creating the visual interpretation, we drew on Porsche heritage, typical Porsche elements and modern lifestyle to assemble an exciting set of possible layers in a creative journey,” noted Lars Krämer, Head of Innovation and Methods, in press material that exclusively shared with nft now. “We leave some freedom to the owners so that they can let the style and situational mood flow into the visualization,” he added.

For this project, Porsche has partnered with Hamburg designer and 3D artist Patrick Vogel. Vogel will create the various design elements of the NFTs and work with user input obtained from the initial sale to prepare each NFT as a special 3D effort in Unreal Engine 5.

While some artists may be uncomfortable giving up so much control through collaboration, Vogel embraces it.

“Web3 is always about what comes next,” he explained. “You always have this co-creation in mind. It is different from normal creation in Web2. I love working with iconic things. I love doing really weird art. Colorful, playful. And if Porsche calls you and says “Hey, can you do this?” You say, “Of course.”

Also contributing their artistic skills to the project are Belgian visual artist Vexx, who is responsible for hand-painting the Porsche Vision Gran Turismo, and digital artist Chris Labrooy. Labrooy created the physical “Dream Big” installation at Art Basel Miami.

Building a complete digital environment

The NFT collection is just the first phase of Porsche’s journey into Web3. The company has expressed an interest in eventually bringing the buying experience of its luxury cars into Web3. In addition to this, they are considering further securing their supply chain through blockchain technology.

Some of these plans are still in flux, but Porsche notes that this is by design.

“We look at [these releases] almost like seasons in a TV show,” explained Deniz Keskin, Porsche’s director of brand management and partnerships, speaking at nft now’s The Gateway: A Web3 Metropolis. “What you see now is like season one. We’ll see what we learn from this [first collection] and how we write history going forward. Don’t expect a second season to be exactly like this one. We really want to [evolve] together with society.”

Krämer echoed Keskin’s sentiments, noting that the central focus of the project is ultimately about co-creation with their community.

“The heart of the project is the community,” Krämer said during the panel. – We want to get in touch with [the community] and have co-creation. That is the goal. I look forward to having the first co-creation session with holders in the future. We can test the designs of the artists in the future and bring you together with the artists and our whole team.”

Editor’s note: This article has been updated to clarify the holder’s benefits.