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<ul><li><keyword id="27448" type="General" weightage="80" keywordseo="prada" source="Orion">Prada</keyword> is launching its first solo non-fungible token (<keyword id="4668945" type="General" weightage="100" keywordseo="nft" source="Orion">NFT</keyword>) on Thursday, June 2.</li><li>Anyone who purchases one of Prada’s new limited-edition shirts, designed by <keyword id="14098661" type="General" weightage="50" keywordseo="cassius-hirst" source="Orion">Cassius Hirst</keyword>, will get the NFT.</li><li>The exclusive perks and experiences that come along with the NFT will be unveiled on the Prada’s new <keyword id="451967" type="General" weightage="50" keywordseo="discord" source="Orion">Discord</keyword> server once the sale is live. </li></ul> Prada has no plans to get left behind as global luxury brands swarm to the metaverse and make their mark in the web3 world. The marquee Italian fashion designer will <a href="https://www.prada.com/us/en/pradasphere/special-projects/2022/prada-timecapsule.html?utm_source=twitter&amp;utm_medium=social_post&amp;utm_campaign=prada_timecapsule">debut</a> its first solo non-fungible tokens (NFTs) on Thursday, June 2. The NFTs are a part of Prada’s <keyword id="14098662" type="General" weightage="50" keywordseo="timecapsule-initiative" source="Orion">Timecapsule Initiative</keyword>. Each Timecapsule drop is linked to a gender-neutral product and a gifted NFT, which the brand describes as, “A GIF of the capsule video which represents the digital version of the physical item.” The physical part of the drop are black or white button-down unisex shirts – each designed by artist Cassius Hirst, son of NFT artist <keyword id="171262" type="General" weightage="50" keywordseo="damien-hirst" source="Orion">Damien Hirst</keyword>. The shirts are decorated with Cassius Hirst’s signature mask and brain scan designs. The accompanying NFT is a pill that opens to show the same mask and brain scan. To create a community experience, which is an integral part of the narrative around web3, Prada has also jumped onto Discord and set up its own server called ‘<a href="https://www.prada.com/prada-crypted/">Prada Crypted</a>’. This is where Prada will unveil the perks and experiences that will be exclusively available to its NFT owners. <cmsannotation type="cmsannotation" annotationid="The growing ‘phygital’ trend" comment="subhead" text="The growing ‘phygital’ trend">The growing ‘phygital’ trend</cmsannotation> Taking what exists in the physical world, and linking it to a digital experience, is what influencers are calling the ‘phygital’ trend. And, this isn’t Prada’s first foray in this direction. The fashion house launched another NFT earlier this year in collaboration with Adidas. Balenciaga and <keyword id="75186" type="General" weightage="50" keywordseo="gucci" source="Orion">Gucci</keyword>, Prada’s contemporaries in the fashion world, have taken similar initiatives. Balenciaga, the Spanish luxury fashion house, recently launched an animated pixel game and NFT avatar. Gucci, which has the first-mover advantage in terms of fashion entering web3, recently launched ‘Gucci Town’ on Roblox. The platform offers games and virtual handbags to players in exchange for Robux, the virtual currency on Roblox that can be purchased with a credit card. Gucci even has its own Web3 team, called the ‘Dream Big’ team. It is dedicated to experimenting more in the blockchain and crypto area and turning it into a sustainable revenue stream.

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This Italian luxury brand is joining the NFT bandwagon

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