Prada, an Italian fashion house, is releasing its third non-fungible token in its Timecapsule series, with the 24-hour auction starting on August 4th. The third drop consisted of gender-neutral t-shirts with accompanying NFTs, some of which come with major perks. Here is everything we know about the drop.
- The Timecapsule drops are 24-hour sales of exclusive merchandise
- Each piece of clothing comes with a unique serial number and custom packaging
- Some of the NFTs in this third drop will allow customers to attend a September fashion show
- The Timecapsule series helps Prada experiment with ways to reach customers digitally
The T-shirts featured in the third Timecapsule drop were made from black cotton poplin and embellished from exclusive Prada fabrics. Also included with the T-shirts was a Frankenstein-inspired print from artist Jeanne Detallante.
The NFTs accompanying the T-shirts came with several perks, just one of which was the possibility to attend Prada’s fashion show in September. Prada plans to include “experiences” for NFT holders, such as attending a Prada event in Milan, Italy, and access to future drops.
In previous Timecapsule, Prada has teamed up with artist Cassius Hirst to create NFTs sent to buyers of the Timecapsule merchandise. In the Cass x Prada collection, for instance, the artist reinterpreted the America’s Cup Sneaker Style.
Luxury Brands Bet Big on Web3
While it may seem strange at first to think of centuries-old luxury brands investing heavily in new technology, that has been the case this year as more companies producing luxury goods have gotten involved in Web3. Here are three stories Rarity Sniper has covered about luxury brands diving into NFTs and the metaverse.
First, there is the main subject of this article: Prada. Two months ago, we covered its June Timecapsule drop, which featured work from artist Cassius Hirst. Rather than T-shirts for this drop, Prada sold black or white button-down shirts. Each came with an NFT, and unlike in some other merch/NFT drops, buyers didn’t have to choose between the two. They received both.
Second, there is Gucci. The company has taken several steps to explore Web3, accepting cryptocurrencies at its IRL locations and partnering with NFT marketplace SuperRare to launch a curated art gallery. It also created a metaverse experience titled “Gucci Town,” where gamers could hang out when they took a break from playing.
Third and finally, there is Dolce & Gabbana. The business partnered with UNXD to launch an NFT collection on Polygon, a Layer-2 scaling solution for the Ethereum blockchain. These NFTs corresponded to membership tiers and came with a variety of rewards.
Prada’s latest Timecapsule NFT drop is certainly exciting news for NFT collectors, especially those who like to attend IRL events like fashion shows. Here at Rarity Sniper, we’ll be watching closely for any further developments in the story.