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Prada high-end fashion brand released NFT on Ethereum

After luxury brands such as Gucci, Balmain and Balenciaga, Prada Fashion Company also officially announced the 100 NFT release plan with the Timecapsule offering, its latest collection.

Specifically, Prada will launch 100 Ethereum NFT along with the latest Timecapsule outfit in cooperation with Cassius Hirst, son of artist Damien Hirst.

Customers will be free Airdrop 1 NFT when participating in buying Prada products. The new collection includes Unisex Prada X Cassius Hirst buttons black or white. Comes with NFT in the form of a GIF with a black or white tablet. Each NFT will be represented by a separate number of Sees.

He, customers who have participated in buying products in Prada Timecapsule collections from 2019 will also be given NFT. NFT utilities will be revealed in the coming time on the brand’s Discord channel. Instead of targeting a new market, Prada chose the other direction to reward traditional customers who have accompanied for a long time.

Part 1: (Decode) What is NFT? Future or just a fad?

Part 2: (Decode) What is NFT? Future or just a fad?

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The Hirst family is no stranger to NFT. Damien’s first collection called “The Currency” was Mint in July last year and is still being traded at a floor price of 5.2 ETH (equivalent to 9,360 USD) for each NFT.

Aura Blockchain Consortium is the basis after supporting Prada. Aura is a non -profit organization established by LVMH, Prada and Cartier. Aura uses Quorum, an Ethereum -based blockchain platform that helps solve problems of authenticity, ownership and traceability.

However, this is not the first NFT project of Prada. In January, this brand cooperated with Adidas to release the collection “Adidas for Prada Re-Source” on Polygon. The collection has reached a total trading volume of 468 ETH.

The latest breakthrough of Prada into NFT shows that the focus of the brand is still real life items. But this brand is also trying with NFT as a reward of customer gratitude. Although NFT is still strange in the subconscious of many people, it is still undeniable that the benefits that blockchain products bring to high-end brands.