July 06: Prada has released its second Timecapsule NFT Collection, a monthly online event where for 24 hours exclusive items are dropped on its website in limited quantities and in selected markets. The collection follows the collaboration with artist Cassius Hirst, which was dropped in early June and sold out, according to Prada.
Swati Bhat
Pic Courtesy: Prada
Some items, including a shirt which is #31 in the drop, are made from upcycled fabrics from the Prada archives.
Each limited-edition Timecapsule item is given a unique serial number and is delivered with custom packaging. Timecapsule, customers will be able to redeem the related NFT which will be available, in a second phase, also for those who bought the Timecapsule dating back to the first launch in December 2019. As such, there is a synergy between the Prada Timecapsule and the scarcity and desirability of NFTs, the company said in a press release.
NFTs are issued on the Ethereum blockchain and the drop facilitated by leveraging the Aura Blockchain Consortium’s NFT Solution and technology.
Pic Courtesy: Prada
META-TIP: An NFT drop is the release of a non-fungible token project. A drop refers to the exact date, time, and generally the minting price of the NFT. Many NFT drops have purchase limits that apply to the number of NFTs you are able to mint in one transaction. Purchasing at drop time is a great way to save money as well.