Prada is launching the 32nd Time capsule today, the third month includes a NFT. This drop features a shirt made from a variety of recycled Prada fabrics, including a Frankenstein-inspired print created by artist Jeanne Detallante and an NFT of the shirt itself. A Timecapsule NFT holder will get access to events, including a Prada experience in Milan and an invitation to her fashion show in September.
Only NFT owners who are also verified on the Prada Crypted Discord server are eligible to be selected.
Since December 2019, the Timecapsule initiative has been held monthly by Prada, in which limited edition items go on sale for 24 hours in selected markets. There are often only 50 editions available on a first-come, first-served basis. Limited edition physical items have come with an NFT ever since June 2022,
Before incorporating NFTs with Timecapsule, Prada’s first NFT venture was in January 2022, a collaboration with Adidas which featured 3,000 images from fans.
Considering how Prada has increased its digital presence with Prada Crypted, the brand apparently wants to attract a customer base that is more familiar with digital assets. Apparently, the use of NFTs will open up new ways for Prada to engage with customers. The unique experiences it plans to attach to its NFTs will increase digital and personal engagement and create an elite group within its community.
In terms of technology, Prada is a member of the AURA luxury consortium and is using AURA’s NFT solution.
Many other luxury brands have started experimenting with NFTs as well. Recently, Tiffany launched NFTiffs, a project exclusively available to CryptoPunk holders. Tag Heuer launched a watch that features proprietary NFTs on the watch face. In contrast, Bulgari has a more conventional offering that provides access to NFT art for certain watch owners.
