The NFT industry is expanding at a rapid pace, and there is no stopping it now. Several luxury brands and companies have now entered the NFT and metaverse space to provide their consumers with the most interactive and fun user experience ever.
In the long line of luxury brands, Prada has become the latest project to enter the NFT space with a utility-based NFT collection. Prada, with this launch, will expand its presence on Web 3 and will correspond to the series of physical shirts that have been on sale since December 2019.
One Shirt, One NFT
Prada is launching an NFT collection with 100-Ethereum-based NFTs that corresponds to the physical Prada Timecapsule, a series of fashionable white or black shirts launched three years ago in 2019. The physical project with the NFT collection involves designing 100 gender-neutral shirts in collaboration with Cassius Hirts, a designer and artist.
“ Each Timecapsule drop will be linked to both a gender-neutral physical product and a gifted NFT, a GIF of the capsule video which represents the digital version of the physical item.”
The collection is named Cass x Prada collection and will reinterpret the Pradas America’s Cup sneaker style earlier this month. The NFT collection will go live on Thursday in sync with the brand’s Timecapsule Initiative, where since 2019, Prada has featured an exclusive edition item drop from the series on the website.
In this phase, starting this Thursday, every owner of the physical shirt will also receive an NFT that will act as the digital record documenting the drop’s serial number and a unique number associated with every shirt. Moreover, every buyer of the previous drops dating back to the very first launch in December 2019 will also receive NFTs.
However, this is not Prada’s first venture into the digital collectible space, as earlier this year, the luxury brand partnered with Adidas, a sporting brand, to launch a Beeple-inspired NFT collection.