Home
News
- Following a successful initial foray into NFTs with Adidas Originals back in January, Prada is unveiling NFTs “Timecapsule.”
- Loyalty and rewards are the essential elements in the NFT strategy of Prada, as the tangible Timecapsule holders will be given corresponding NFTs.
- Prada is one of the growing lists of brands to peg virtual items with physical products.
Prada Extends Its Web3 Offer
Following the successful entry into the NFT space with Adidas Originals in January, Prada is rolling out its own limited edition Timecapsule product NFT channel, the luxury Italian house states.
The Timecapsule initiative, which made its entry back in December 2019, drops on the official e-commerce website of Prada on the first Thursday of every month, accessible for 24 hours only.
This Thursday’s release will include gender-neutral shirt models in collaboration with Cassius Hirst, this time with a free NFT to go alongside their tangible product, an escalating preference for the luxury sector.
The black or white shirt, representing the signature mask of Hirst and brain scan designs, and corresponding NFTs of GIF of timecapsule, will feature a distinct serial number corresponding with the tangible item.
Rewards and loyalty are the essential elements in the NFT strategy of Prada. Anyone who has acquired tangible timecapsule pieces, will e rewarded with corresponding NFTs, giving accessibility to exclusive perks as well as experiences, to be unveiled in the new Discord channel created by Prada dubbed “Prada Crypted” and their official website.
The timecapsule release comes after the Italian luxury house made its initial NFT collection in collaboration with Adidas Originals, launched back in January on Polygon, the platform known for its diminished energy consumption.
Prada’s new NFT collection is issued on the Ethereum blockchain, which enables a “safe and user-friendly experience, as per the brand, and is backed by Aura Blockchain Consortium, an NPO discovered by Prada, Cartier, and LVMH.
Prada is one of the greatest fashion brands known all over the globe and is amongst the booming list of luxury brands to tie virtual items with physical products. Just the previous week, Gucci unleashed its virtual Blondie-Bags at its Gucci Town location in Roblox metaverse.
Prada might link the physical items to an NFT through radio frequency identification microchips.
This technology will allow every product to receive a distinct virtual identity, as same as a passport, which the organization can utilize in the creation and dispersion of its products to authenticate and keep an eye on them.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
