Prada To Drop an NFT a Month: What To Know

NFTs, aka non-fungible tokens, are the digital assets which over the past year, have become the hot ticket for fashion brands who want to tick the Web3 box. Back in January, Prada jumped on the bandwagon, launching an NFT in collaboration with sports giant adidas where the public were invited to submit artworks with 3,000 participants chosen at random to have their designs minted for free as an NFT. Unlike other brands, however, Prada are committing to NFTs as a long-term strategy, combining them with their Timecapsule Collection which sees a gender-neutral fashion item dropped on the first Thursday of every month, available for 24 hours only.

Launching their own Discord channel, 'Prada Crypted', the Italian luxury powerhouse is engaging directly with the digital fashion and gaming community. This will be a source of information for fans of the brand who want to stay abreast of the limited-edition drops. A gender-neutral physical item will become available on Prada.com/prada-crypted, sold with a unique serial number aligning with an accompanying gifted NFT, purchased on the Ethereum blockchain. Buyers will be rewarded for their loyalty, whilst Prada keeps the physical and digital realms in conjunction.

The next launch on June 2 at 14:00 BST, will see 100 editions of two shirts designed by Cassius Hirst, whose capsule collection of spray-painted Prada America's Cup trainers launched with Prada last week, released for purchase. Following this, Prada Timecapsule drops will be reduced to 50 items per launch.