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Luxury Fashion Brand Prada will release Ethereum NFTs
Jun, 07 2022
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Prada will release 100 Ethereum NFTs along with its Timecapsule collection next Thursday. NFTs are unique blockchain tokens that represent ownership of a digital asset.
Luxury brands like Prada have affluent
taste, so it makes sense for brands like Prada to enter the NFT and metaverse
space. It's not just about chasing after shiny objects; it's a marketing
strategy.
Those who purchase Prada's latest
collaboration with Cassius Hirst, son of artist Damien Hirst, will receive a
free airdropped NFT along with their physical merchandise purchase.
Timecapsule NFT, the brand's new project
for Web 3.0, will be released on June 2, which is an upgrade of Timecapsule,
which started in December 2019. The statement says that previous Timecapsule
buyers will also receive NFTs in the future.
The Prada x Cassius Hirst unisex
button-down shirts are available in black and white, the GIFs that correspond
to the shirt drops will be black and white. The NFTs will be randomly assigned
based on the drop's serial number as well as the shirt's number.
NFTs aren't a requirement by any means;
they're just a kind of bonus for Prada. While NFTs may still be seen as a
novelty to some, luxury brands have a good chance of profiting from
blockchain-based product authentication.
Although this is Prada's first NFT collaboration, it was previously partnered with sportswear brand does, which released the "Prada for Adidas Re-source" collection on Polygon in January.
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Pavan A
CBW - External Analyst
INDIA
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