Earlier this week, Porsche minted its first major NFT collection, which was notable for two reasons. Firstly, a lack of demand resulted in the automotive company halting the mint [priced at .911 ETH ($1,500)], reducing the supply from the proposed 7,500 NFTs to 2,363. The price on OpenSea is now well above the mint price. The other novel feature was a clear statement about the purchaser’s right to be reimbursed, a topic we’ll explore here.
European law has a fairly well-known requirement that there’s a 14 day cooling off period for online and mail order purchases, allowing consumers to return items for no reason.
Hence, Porsche explicitly included wording to this effect at the point of checkout. And the more detailed terms also imply a refund of blockchain gas fees.
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