The third edition of the Prada Timecapsule NFT Collection drops August 4. Like the first two rounds, it involves a gender neutral physical component along with a gifted NFT. However, both are evolving; the physical offerings are becoming more deeply rooted in Prada’s DNA while The utility aspect of the NFTs are now being realized.
Here’s how he Prada Timecapsule Collection is blurring decades and fusing digital and physical assets with experience to engage true fans of the brand on all levels.
Prints from Prada’s physical archive
Take the physical component, the poplin shirt. Underscoring Prada’s commitment to circularity, like the previous drops, it’s made using repurposed textiles. But if you really know your Prada, this new drop will resonate beyond just its sustainability value.
Prada aficionados will recognize the Frankenstein-inspired print with its lightning bolts and monster hands as that created by artist Jeanne Detallante for the men’s fall 2019 collection that showed in Milan in the January of that year.
Further back even than pre-pandemic, comes lurex silk brocade in floral motif sourced from Prada’s 1950s archive and a silk lamas from a 1920s archive textile. The shirt is also decorated with a Lattice Badge featuring a graphic created by OMA studio — the design studio behind Milan’s Fondazione Prada building.
Experience is everything
The utility aspect of the the gifted NFTs is also now 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 fashion show taking place during Milan Fashion Week.
Each NFT has a unique serial number corresponding to the accompanying physical item.
According to the Prada Crypted Discord channel, Holders of Prada Timecapsule NFTs (June, July and August), will be entered into a draw to win tickets. With holders totalling just 200, everyone is in with a decent chance.
Results are in
Meanwhile the numbers are adding up across the board. First half results are up year on year. According to reporting by WWD, retail sales, 90% of group revenue, rose 26% to $1.72 billion, while overall revenue for the period was up 22 percent to $1.92 billion. Net income nearly doubled to $191 million.
The Prada Timecapsule NFT Collection launched June 2 as an evolution of the brand’s preexisting, physical, Timecapsule initiative established in December 2019.
Drops to date
The first drop in June was a collaboration with Cassius Hirst featuring black and white shirts bearing the artist’s signature brain scan designs while the second, July edition, involved an archive fabric collage of the Prada tulip print, a jacquard animal print brocade, a jacquard floral brocade silk from from an early 20th century French archive and a deco inspired badge. Both drops sold out immediately.
The online event takes place on the first Thursday of every month with a limited edition item drop on Prada’s website, available for 24 hours only. Prada’s Timecapsule NFT project is built on the Ethereum blockchain leveraging the technology of the Aura Blockchain Consortium.
The third drop takes place August 4 at 3P.M. CEST and consists of 50 tokens.