From Gucci to Balenciaga, and Balmain, several leading luxury fashion brands have made a foray into the NFT business. Prada is the latest to join the party.
Prada has announced its debut NFT release. Following its maiden excursion into this arena in conjunction with adidas Originals, the brand plans additional releases.
The solo release is associated with the Prada Timecapsule, a monthly online event in which a different exclusive item is made available in limited quantities in specific areas for only 24 hours.
This week, Prada Crypted also debuts a new community server on Discord, free to anyone who wishes to join.
Each Timecapsule limited edition item is accompanied by a unique serial number and shipped in a customized box.
Customers in Australia, Austria, Belgium, Brazil, Canada, China Mainland, Denmark, Finland, France, Germany, Greece, Hong Kong S.A.R., and Ireland can become the first owners of Prada NFTs beginning on June 2.
The NFTs will also be available in these countries: Italy, Japan, Luxemburg, Monaco, Netherlands, New Zealand, Norway, Portugal, Republic of Korea, Singapore, Spain, Sweden, Switzerland, Taiwan, Turkey, UAE, UK, and United States.
Customers can now purchase a Timecapsule product, for which they will also receive NFTs in a second phase, dating back to the initial launch in December 2019.
In the most recent Timecapsule release, a shirt developed in conjunction with Damien Hirst's son, artist Cassius Hirst, will be available for purchase.
The Prada x Cassius Hirst unisex button-down shirts are available in black or white, and the NFTs are a GIF of a black or white pill capsule.
In addition to referencing the drop's serial number, the NFTs will provide a number for each physical shirt.
The Hirst family is no stranger to NFTs. "The Currency" was minted back in July of last year and currently has a floor price of 5.2 ETH ($9,360) per NFT.
This collaboration follows the recent release of Cass x Prada, Hirst's rendition of the Prada America's Cup sneaker.
The shirt features Hirst's trademark mask and brain scan patterns.
The Aura Blockchain Consortium is responsible for Prada's recent NFT release. Aura is a charitable organization established by LVMH, Prada, and Cartier.
It utilizes Quorum, a blockchain platform based on Ethereum that delivers blockchain-as-a-service, ConsenSys Rollups, and other blockchain solutions.
In order to have a perfect correlation, the NFT comprises both the drop serial number and the numbering of each physical item.
