Prada Will Launch NFT Series Based on Ethereum

Prada’s latest attempt emphasizes the utility based interaction between NFT and physical objects.

Prada, a well-known luxury brand, has expanded its influence in the Web3 field through the upcoming new NFT series. It will correspond to a range of physical shirts sold from december2019.
One shirt, one NFT

According to the company’s website, these 100 Ethereum based NFTs are a corresponding supplement to Prada timecapsule, a series of fashionable black or white shirts launched as early as 2019. This entity project, including 100 gender neutral shirts designed in cooperation with artist Cassius Hirst (son of Damien Hirst), will be directly linked to the NFT to be airdropped.

Each timecapsule launch will be associated with a gender neutral physical product and a complimentary NFT. This is a GIF of capsule video, representing the digital version of physical items.The release of the NFT is intended to mark the evolution of the timecapsule initiative. Since 2019, on the first Thursday of each month, this world-famous brand will launch the exclusive version of the series on its website.

In the second stage, after the air drop on the coming Thursday, the owner of each physical shirt will also obtain an NFT, which will be used as a digital record to record the serial number of the air drop and include the unique number associated with each shirt.

Ways to Focus on Physical Objects

Forbes’ report shows that the price of each NFT will be denominated in legal currency rather than cryptocurrency. Aura blockchain alliance, supported by LVMH, prada group and Cartier, provides solutions for authenticity, ownership and traceability. This alliance is Prada’s latest attempt in NFTs.

The report points out that, unlike its main competitor Gucci, which mainly targets Web 3.0 aborigines from the game community, Prada’s strategy focuses on “meta space resisters” who are not interested in web 3 or blockchain technology, because it tries to integrate its NFTs into predetermined physical projects. In this way, it aims to build its virtual Empire around its loyal or existing customers.

The brand’s first NFT project – “Adidas for Prada re source”, based on polygon, cooperated with Adidas, a sporting goods giant, and indeed became vivid in a unique way. In cooperation with Adidas originals and artist Zach Lieberman, the brand purchased art projects featuring user generated and creator owned art.