The third edition of the Prada Timecapsule NFT collection drops on August 4. Like the first two rounds, it involves a gender-neutral physical component with a gifted NFT. However, both evolve; physical offerings are becoming more and more rooted in Prada’s DNA while the utilitarian aspect of NFTs is now materializing.
Here’s how the Prada Timecapsule collection blurs decades and merges digital and physical assets with experience to engage the brand’s true fans at every level.
Prints from Prada’s physical archives
Take the physical component, the poplin shirt. Underlining Prada’s commitment to circularity, like previous versions, it is made from repurposed textiles. But if you really know your Prada, this new drop will resonate beyond its simple durability value.
Prada aficionados will recognize the Frankenstein-inspired print with his lightning bolts and monster hands as the one created by artist Jeanne Detallante for the men’s fall 2019 collection presented in Milan in January of the same year.
Going even further than before the pandemic comes floral-patterned lurex silk brocade from the 1950s Prada archives and a silk llamas from a 1920s archival textile. The shirt is also adorned with a lattice badge featuring a graphic created by studio OMA, the design studio behind the Fondazione Prada building in Milan.
Experience is everything
The utilitarian aspect of gifted NFTs is also being revealed. Billed as access to unique events and experiences, Prada has announced that the first of these will be an invitation to its September show which will take place during Milan Fashion Week.
Each NFT has a unique serial number corresponding to the physical item that accompanies it.
According to the Prada Crypted Discord channel, Prada Timecapsule NFT holders (June, July and August) will enter a raffle to win tickets. With only 200 total holders, everyone has a decent chance.
The results are in
Meanwhile, the numbers add up at all levels. First-half results are up year-on-year. According to WWD reports, retail sales, 90% of group revenue, rose 26% to $1.72 billion, while overall revenue for the period rose 22% to $1.92 billion. dollars. Net income nearly doubled to $191 million.
The Prada Timecapsule NFT collection was launched on June 2 as an evolution of the brand’s pre-existing physical Timecapsule initiative established in December 2019.
Drops so far
The first drop in June was a collaboration with Cassius Hirst featuring black and white shirts featuring the artist’s signature brain scan designs while the second edition in July involved an archival fabric collage of the Prada tulip print, an animal print jacquard brocade, a silk brocade floral jacquard from early 20th century French archives and a deco-inspired badge. Both drops sold out immediately.
The online event takes place on the first Thursday of each month with a limited-edition item on Prada’s website available for 24 hours only. Prada’s Timecapsule NFT project is built on the Ethereum blockchain by leveraging technology from the Aura Blockchain Consortium.
The third drop takes place on August 4 at 3 p.m. CEST and consists of 50 tokens.