This year, the world of NFTs has been surrounded with top players across different areas. Now, Prada is the latest luxury brand to join the bandwagon, following Gucci, Balmain, and Balenciaga.
The Italian fashion house announced today the release of 100 NFT collectibles associated with the upcoming Cassius Hirst Timecapsule apparel drop.
Prada Enters The Next-Generation Internet of Web3
The new Prada NFT will be open this Thursday as part of the Cassius Hirst Timecapsule apparel release.
The Cassius Hirst Timecapsule is a groundbreaking collaboration between Prada and the son of legendary artist Damien Hirst, Cassius Hirst. Each item purchased from this collection comes with one NFT airdropped to the customer.
The featured unisex button-down, designed in collaboration with Cassius Hirst, is the highlight of Prada’s latest collection.
The item comes in two colors: black and white, with matching NFTs in the form of a GIF of either a black or white item. The NFTs will include a reference to the drop’s serial number as well as a number associated with each actual garment.
Being part of the Hirst family, the artistry is in Cassius’s wheelhouse. His father Danmien Hirst, popular British artist, gained traction with the first collection – The Currency – dropped in July last year. The NFT is now valued at 5.2 ETH ($9,360).
Customers will be able to obtain both digital and physical assets as part of the Prada x Cassius drop.
The Aura Blockchain Consortium, a Switzerland-based non-profit association supported by LVMH, Prada, and Cartier, three prominent luxury houses, is behind the NFTs.
It uses Quorum, an Ethereum-powered blockchain solution that offers blockchain-as-a-service, ConsenSys Rollups, and a variety of other blockchain-related products.
Prada and Adidas, the sports apparel and equipment giant, collaborated in January this year to launch a new NFT project that invites customers to contribute their own designs.
Prada and Adidas’ collaborative effort is one of the significant milestones for high-end to more casual fashion companies that are aggressively entering the space in an effort to provide clients with more unique experiences.
Aside from the collaborative efforts, each party’s business has explored various opportunities to develop their own future product lines especially in combination with innovative technologies.
Top Fashion Brands Are Betting Big On NFTs
The emergence of revolutionary technologies such as NFT and metaverse has put the fashion business back on track, especially as the year 2022 approaches.
The NTF game, as well as the metaverse revolution, will alter our way of life as well as the standards by which we work.
Not only that, but this will have the greatest impact on the fashion industry, where both the NFT and the metaverse play an important role.
Luxury fashion brands such as Dolce & Gabbana and Jimmy Choo are early adopters, launching NFT lines during New York Fashion Week 2021.
UNXD, a fashion industry pioneer and boutique curator for iconic luxury labels, created the nine-piece NFT collection for Dolce & Gabbana. At the crossroads of identity creation, fashion collides with NFT.
The creation of digital fashion products is the first step toward fashion digitization. This covers anything from Louis Vuitton video games to Gucci.
They not only provide digital content in place of physical products, but they also create high-quality fashion films for us to enjoy.
According to reports, leading fashion brands are focusing on blockchain breakthroughs such as NFTs, Metaverse, and Web3.
The extension of a fashion brand’s or company’s basic ideas and goals, as well as the incorporation of technology into its operational procedures, are two critical variables that will determine the brand’s or company’s success.
Otherwise, it will be just another form of flashy marketing and fad that has come and gone throughout history.