Prada Joins Balenciaga And Gucci Web3 Foray With Own NFT Launch

If you have affluent taste, then you’ll know what Prada is all about. Luxury brands today seem to be hedging into the NFT and metaverse space. And it’s not just about chasing the shiny object or the clout effect; it’s a marketing strategy.

Prada, dubbed to be the ninth most expensive luxury brand in the world alongside Gucci, Louis Vuitton, Balenciaga, and the like, is set to launch Timecapsule Apparel on Thursday plus 100 ETH NFTs.

The Timecapsule NFT initiative is founded on Ethereum blockchain pegged on the Aura Blockchain Consortium.

Prada’s Timecapsule NFT Launch, June 2

With the NFT launch, shoppers will get free NFTs to be airdropped to match the physical goods they buy from the latest designs of Prada by artist Cassius Hirst.

Prada is tapping on Web 3.0 with the Timecapsule NFT to be released on June 2, which is an upgrade of the brand’s Timecapsule project founded in December 2019.

Prada is the ninth most expensive luxury brand in the world. (YouTube)

This latest NFT drop is coined as Cass x Prada which is an art inspired by Prada America’s Cup sneaker. Timecapsule shirts are unisex and come in black and white featuring the signature art design of Hirst.

The luxury brand will be airdropping limited-edition merchandise every first Thursday of the month; which people can buy within 24 hours.

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The online event is the cream of the crop because it showcases over 100 gender-neutral shirts that are designed by the artist Hirst. The physical merchandise or shirts are paired with a free NFT which is a GIF that has the unique serial number of the matched physical item.

The price is yet unknown but reports say that it will not be available for crypto purchase. Buyers can buy it in fiat currency.

Crypto total market cap at $1.29 trillion on the daily chart | Source: TradingView.com

Prada Rewards Loyal Buyers With NFT

In the second phase, every buyer of the Timecapsule apparel launched back in 2019 will all be given free NFTs. More so, buyers will get into the nitty gritty details of NFT utilities as it will be announced via Prada Crypted, a community server that you can find on Discord which is now live.

Despite the NFTs being airdropped for free, holders can freely sell them on marketplaces.

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The Timecapsule initiative aims to reward people who purchase on the spot or early on. However, unlike other luxury brands, Prada isn’t aiming for an entirely new market. The brand is set to reward their loyal clients who have been supportive from the beginning with this NFT initiative.

Featured image from NFT Drops Calendar, chart from TradingView.com