June 16, 2022

Prada’s first #NFT drop

Prada’s first #NFT drop as part of their #Timecapsule collection cements luxury brands moving into the blockchain space.

What happened:

On June 2nd, Prada added NFT to its popular Timecapsule series. For the uninitiated, Timecapsule is an ongoing monthly release of exclusive Prada shirts and accessories since 2019, with each item only available for purchase online for 24 hours. For this month's drop, Prada included 100 NFT shirts along with the physical version designed by artist Cassius Hirst. The addition of NFTs allows buyers to own a physical piece of Prada fashion and a digital collector's item that may hold access to additional perks and VIP experiences down the road. 

Why it matters:

As the digital world continues to grow and evolve, so does luxury fashion brands' role. Brands like Prada and the Timecapsule launch lead the way in this new frontier, creating exclusive, digital fashion pieces. This move has not only allowed Prada to tap into a new market, but it has also helped legitimize blockchain technology's role in the fashion industry. As more and more consumers begin to embrace digital worlds, we will likely see even more luxury brands following suit. With its cutting-edge designs and forward-thinking approach, Prada is setting the stage for a new era of digital luxury.

Audience Demographics of Prada #timecapsule

Since its inception in 2019, Prada's Timecapsule collection has been a hit with users across social media. Since 2021, 71 influencers and celebrities mentioned the collection in 190 posts, which garnered 31.3 million impressions. The week of Prada's Timecapsule NFT release, there were 63 posts published across social networks mentioning the drop #30, which reached 3.53 million users, with the most engagement happening on Instagram.

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