NFT: the luxury brand Prada dresses on the blockchain

Alone – Launch of Prada non-fungible tokens (NFT) paired with limited edition t-shirts, designed with artist Cassius Hirst. More and more luxury fashion brands want to integrate web3 into their content strategy, to create new forms of connection with their community.

NFTs dress in Prada for 24 hours

Prada launched on June 2, 2022, 100 NFT on Ethereum (ETH). These NFTs accompany the launch of his latest Timecapsule article.

Timecapsule is a monthly online event that takes place on the first Thursday of each month. An exclusive Prada item, in limited quantities, is available on the brand’s website for 24 hours for selected markets.

The highlights of the June 2022 Timecapsule the shirt designed by Prada with Cassius Hirstson of artist Damien Hirst whose first NFT collection was minted in July 2021.

Buyers of the object thus receive a free NFT. NFTs have a serial number and vault numbering associated with each physical folder.

This is not Prada’s first NFT initiative. The brand had already launched with Adidas in January 2022 the “adidas for Prada re-source” collection on Polygon (MATIC). These NFT Timecapsules are however the first solo dive of Prada in the NFT.

However, Prada’s latest move was met with some criticism. These are a reminder that the adidas NFT asset for Prada has had relatively low utility since its launch. The NFT currently has 2,700 holders and trades at 0.08 ETH on OpenSea.

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For the Love of NFT: Fashion Brands in the Web Age3

NFTs are increasingly integrating the content marketing of fashion brands like Prada. For day 520 of 2022 – Virtual Valentine’s Day celebrated in China – the Balenciaga brand has launched two retro mini-games integrated into its Wechat program.

The NFT Avatar players can explore different parts of the game and click on hidden product icons to collect Balenciaga’s flagship items.

Lancôme offered 520 exclusive personalized gift boxes for this event. The owner of each box receives NFT jointly created by the Jingdong Lingxi brand and platform.

The luxury sector is therefore looking to combine their limited edition physical items with NFTs. Prada links them to its T-shirts created with Cassius Hirst, while this Swiss watchmaker launches 2 NFTs linked to two watches designed with Japanese artist Takashi Murakami.

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