Prada joins other luxury brands in the Web3 movement and bets on NFT
From Gucci to Balenciaga and Balmain, many luxury fashion brands have jumped into the NFT frenzy. Prada (OTC 🙂 is the latest to join the party.
The Italian luxury fashion house launched its first independent NFT collection on Thursday. The 100 NFT drop, called Timecapsule NFT, will accompany the brand’s latest Timecapsule apparel.
Starting June 2, #PradaTimecapsule customers will have the opportunity to become the first Prada NFT owners by purchasing a Timecapsule product that also appears #NFT-gifted. #Prada is also launching #PradaCrypted, the brand’s new community server on Discord. https://t.co/0ZZMaeKL1B pic.twitter.com/WofZryJp2K
– Prada (@prada) May 30, 2022
Prada has also launched a new community server on Discord, Prada Crypted, to expand its digital footprint. The server is open to anyone who wants to join.
Timecapsule Drops from Prada launched in December 2019. The company releases limited-edition items for purchase in select markets for 24 hours on the first Thursday of every month. Typically 50 editions are available on a first come first serve basis. Items are shipped to buyers in custom packaging. However, starting next week, the purchase will be accompanied by an exclusive NFT. Previous owners will also get NFTs at a later time.
According to the announcement, customers will get free airdrops for digital collectibles when they purchase physical items from Prada’s latest collaboration with Cassius Hirst, son of artist Damien Hirst.
Since the unisex Prada x Cassius Hirst shirts come in black or white, the corresponding NFTs are black and white GIF capsules. Collectibles are associated with the drop serial number as well as the physical shirt number.
Drop faucets on the Aura Blockchain Consortium. Aura is a non-profit organization founded by Prada, LVMH and Cartier with the goal of using blockchain technology to combat counterfeiting and assure the source.
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