Prada is executing a series of product and NFT drops in an effort to dive deeper into the metaverse.Virtual worlds are making luxury brands more accessible than ever, and Prada is the newest to get in on the action with a monthly release of their Timecapsule NFT collection, a limited-edition gender-neutral array of products, as well as their launch of Prada Crypted, “a community server on Discord where Prada fans can discuss fashion, art, film, music and Web3.” In a monthly 24-hour long event, the brand will allow consumers to purchase Timecapsule products where they can receive Prada NFTs and access benefits and future product intel. The Prada Timecapsule NFTs are released on the Ethereum blockchain and “it’s facilitated by the Aura Blockchain Consortium’s NFT technology,” similarly to other luxury brands like Cartier, Louis Vuitton, and Bulgari. YPulse’s Buying Into Crypto and NFTs trend report shows how Gen Z and Millennials are fueling the popularity behind NFTs and they’re buying the digital tokens for more than just financial gain but for various other benefits, including access to events, exclusive merch, and more. (Marketing Dive)
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