On Thursday, world-renowed luxury brand Prada is anticipated to release their own NFT set: Prada Timecapsule.
Prada has previously involved intself in the non-fungible token (NFT) space when earlier this year it partnered with digital artist Zach Lieberman and Super rare for an Adidas project collab. This set will not be a collaboration and instead a Prada set all on it’s own.
An online event hosted on the first Thursday of every month, Prada Timecapsule has, since December 2019, opened up exclusive access to clothing items on its website for 24 hours. Drop #30 in this series will be coupled with an NFT.
According to Prada, the asset’s design will be “decorated with Cassius Hirst’s signature mask and brain scan designs, both symbolizing unity and togetherness.”
NFT members criticize the move
Some people in the NFT space have criticized the luxury brand’s involvement in the NFT space, suggesting that it’s previously released NFT set that they did with Adidas hasn’t been delivering in the way they initially promised and their holders have still yet to see viable utility value. At the tine of posting this article, the digital asset is currently trading on Opensea for a value of 0.08 ETH and has roughly 2,700 holders.