Prada launches new NFT collection
Prada launches new NFT collection
NFT

Prada launches new NFT collection

By Martina Canzani - 31 May 2022

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Slowly, all the big brands in the fashion world are beginning to embrace the world of NFTs at different times. The latest is the case of Prada, which is not a newcomer in this field. 

In fact, the brand had already collaborated with Adidas to release the “Adidas for Prada re-source” collection on Polygon.

Prada’s new 100 NFTs will be associated with a physical garment

timecapsule nft
The new Prada Timecapsule NFT collection

On Thursday, Prada will launch its new collection in collaboration with Cassius Hirst, son of the famous artist Damien Hirst.

The idea of this major luxury fashion house is to create a fantastic marriage between physical and digital by issuing a free non-fungible token to every customer who decides to purchase one of the garments from the new collection.

Thus, buyers will receive a free NFT along with Prada x Cassius Hirst unisex button-down shirts, available in black or white.

The NFTs will be represented by a GIF of the capsule collection and will include a number associated with each physical shirt.

Prada and its experience with blockchain technology

For both Prada and the Hirst family, this is not the first approach to the world of Non-Fungible Tokens.

In fact, Damien Hirst’s first collection, “The Currency”, dates back to July last year and currently has a floor price of 5.2 ETH.

Prada on the other hand, as already mentioned, had collaborated with Adidas to release the collection: “Adidas for Prada re-source” on Polygon.

The beauty of this new limited collection is that it does not force customers to choose between physical and digital. In fact, the non-fungible token will be given for free with the purchase of the garment, thus using the potential of NFTs more like certificates of ownership than works of art. They will be digital assets that will accompany physical assets.

The collection will rely on the technology of the Aura Blockchain Consortium.

Aura is a non-profit organization founded by LVMH, Prada and Cartier, which uses Quorum, an Ethereum-based blockchain platform offering blockchain-as-a-service, ConsenSys Rollups and other blockchain products.

 

Martina Canzani

Graduated in Law at the University of Milan. After completing her academic studies, she became interested in the world of blockchain, finding it a powerful tool for redemption. Her passion then turned into a job, and now she invests in early-stage projects in decentralised finance and DAO and writes articles on all the news concerning the crypto world.

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