Prada Joins Gucci, Balenciaga, Balmain in Web 3 Launching Ethereum NFTs

UTC by Darya Rudz · 3 min read
Prada Joins Gucci, Balenciaga, Balmain in Web 3 Launching Ethereum NFTs
Photo: Unsplash

As a result of the NFT drop, Prada customers will be able to get a free airdropped NFT as a bonus along with their physical purchase from Prada’s latest collaboration with Cassius Hirst, the son of famed artist Damien Hirst.

Numerous luxury fashion brands like Gucci, Balmain, Louis Vuitton, and Balmain have already started encompassing the Web 3 world. Now, Italian luxury fashion house Prada is following their example by dropping its own non-fungible tokens (NFTs). The release of as many as 100 Ethereum NFTs will take place this Thursday, along with Prada’s monthly Time Capsule Collection event. The collection will be dubbed “Timecapsule NFT.”

Prada’s Time Capsule Collection event started back in December 2019. It takes place monthly, every first Thursday, and always includes a release of limited-edition items available for purchase in selected markets for 24 hours. There are usually 50 editions available on a first-come, first-served basis. And starting next week, every purchase will be accompanied by an exclusive NFT.

As a result of the NFT drop, Prada customers will be able to get a free airdropped NFT as a bonus along with their physical purchase from Prada’s latest collaboration with Cassius Hirst, the son of famed artist Damien Hirst. The collection of Prada and Cassius Hirst consists of unisex button-down shirts that come in black or white. The corresponding NFTs will be a GIF of the black or white pill capsule. Besides, the NFTs will refer to the drop’s serial number and include a number associated with each physical shirt. Such an approach will allow customers to avoid the dilemma of which Prada product to buy. Instead, they will get both a shirt and an NFT.

Aura Blockchain Consortium, a non-profit organization created by LVMH, Prada Group, and Cartier and secured by Microsoft Corp (NASDAQ: MSFT) and ConsenSys technology, will be the tech partner of the drop.

In addition to the NFTs release, Prada has also launched a new community server on Discord, Prada Crypted. The server is open to anyone.

Prada and Its NFTs Experience

The upcoming release is not the first time Prada deals with NFTs. Previously, the brand partnered with sportswear company Adidas AG (ETR: ADS) to release the “Adidas for Prada re-source” collection back in January. The collection was linked to Prada and Adidas Originals’ recurring Re-Nylon collection. The latter uses regenerated nylon yarn in select handbags and accessories. It was launched on Polygon. The proceeds from the NFT sale went for donations to a charity supporting artists and creators.

With the growth of metaverse, luxury brands have discovered a new way to make millions of dollars. Gucci, Louis Vuitton, Burberry, Nars, Balmain, Givenchy, and Clinique have all issued their own NFTs, and we can expect more to come.

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Darya Rudz
Author Darya Rudz

Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding the ways blockchain can change different industries and bring our life to a different level.

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