As the luxury industry’s physical products continue to climb in value and exclusivity, so do its metaverse contributions. Prada dipped its toe in NFTs with Adidas earlier this year, but now it’s standing on its own two feet. Following an almost immediately sold-out NFT collection in June, the luxury label is gearing up to present an even more exclusive drop for July.
Digital digs — The second Timecapsule NFT collection’s rollout will follow a similar structure to the first. For 24 hours on the first Thursday of every month, Prada will release an exclusive item on its website. Each item is equipped with a unique serial number and delivered in custom packaging. (Last month, the item was a T-shirt designed by Cassius Hirst.)
Shoppers will then be able to redeem an accompanying gifted NFT with the purchase of the gender-neutral physical shirt, which is limited this month to 50 pieces compared to last month’s 100. The next event will take place on July 7 at 3 p.m. ET.
With a focus on sustainability, the physical shirt is constructed using upcycled fabrics from Prada’s archive. Starting with the back, “July” is spelled in white and fitted inside the label’s signature triangle logo. It features a message that describes the shirt’s upcycled origins and its edition out of 50. The front of the shirt features a louder design, stitching together bits of Prada’s archival styles.
It puts bits of Prada’s history on display and fuses them into one bold pattern. Bits of the design include a “Jacquard Animalier” silk brocade and lurex fabric and a Holliday & Brown tulip print to match the shirt’s black cotton poplin base. A “Jacquard Thrush” flower print is sourced from silk produced from an early 20th-century French archive and a “Poplin Loto” print contributes to the deco details.
Don’t get your hopes up — Although Prada’s price points and accessibility are out of reach for many already, the label isn’t shy about making sure its digital offerings are up to par. “There is a synergy between the Prada Timecapsule and the scarcity and desirability of NFTs,” it said in the price release.
Keep in mind it will only be available to customers in Australia, Austria, Belgium, Brazil, Canada, China Mainland, Denmark Finland, France, Germany, Greece, Hong Kong S.A.R, Ireland, Italy, Japan, Luxemburg, Monaco, Netherlands, New Zealand, Norway, Portugal, Republic of Korea, Singapore, Spain, Sweden, Switzerland, Taiwan, Turkey United Arab Emirates, United Kingdom, and the United States.
Nonetheless, the lucky 50 that scoop up the shirt and NFT will have exclusive benefits and experiences, including access to future releases. The Timecapsule NFT will be hosted on the Ethereum blockchain and “facilitated by leveraging the Aura Blockchain Consortium’s NFT Solution and technology.” Even if you’re not an NFT owner, you can join the “Prada Crypted” server on Discord to discuss NFTs and luxury fashion, if you’re into that kind of thing.