Prada has made a significant breakthrough in the fashion industry by introducing its inaugural Web3 collectible, a highly popular tank top that has gained worldwide acclaim. This iconic piece from Prada’s Spring/Summer 2021 collection has now become available as a non-fungible token (NFT) stored on the Ethereum blockchain, allowing collectors to own a digital piece of fashion history.
Following Prada’s lead, The Hundreds, a streetwear label with hip-hop influences, has also joined the trend of releasing limited edition digital collectibles on the blockchain. They have introduced an exclusive collection of T-shirts, hoodies, and accessories as NFTs, further pushing the boundaries of the fashion industry.
This groundbreaking move by Prada and The Hundreds paves the way for other fashion brands to embrace digital collectibles and engage with their fans on a new level. By adopting these innovative technologies, fashion labels have the opportunity to enhance customer interaction and drive sales. The future of digital fashion looks promising, and we are excited to witness further developments in this space. #DigitalFashion #OnChain #Blockchain
Prada’s Limited-Edition Timecapsule Collection and the Gifted NFT Experience
Prada’s renowned tank top is now a part of the brand’s Timecapsule nonfungible token collection, while The Hundreds joins other brands in experimenting with on-chain e-commerce. Prada is set to release its thirteenth limited-edition Timecapsule Collection, accompanied by a corresponding gifted NFT, on June 1. The latest collection features a floral-patterned version of the viral tank top, which originally debuted on the fall ’22 runway and is typically priced at $1000. The tanks showcase Prada’s enameled triangle logo on the front and the month of June on the back, with the jacquard terry cloth fabric sourced from the Prada archives. Acquiring the gifted NFT grants membership to Prada’s Crypted NFT community, providing access to future projects and drops.
The Prada Crypted community has enjoyed exclusive opportunities over the past year, including VIP trips to fashion week shows in Milan and invitations to cultural events like Prada Extends and Prada Mode. The Prada Timecapsule NFT initiative launched in May 2022 as an evolution of the brand’s preexisting Timecapsule concept, which began in 2019 as a monthly online event featuring ultra-limited edition item drops available for only 24 hours.
A New Era of On-Chain Rewards in Retail, Collaborating with The Hundreds
In the realm of on-chain rewards, the retail sector is witnessing a growing interest. The newest addition is a platform called some.place, which combines blockchain-based loyalty programs with e-commerce. It has recently entered private beta in collaboration with The Hundreds, a popular streetwear brand. Holders of The Hundreds founder’s Adam Bombsquad nonfungible token project can connect to the beta version using their wallets. Presented as a new way of shopping centered around storytelling, socializing, and rewards, some.place and The Hundreds have recreated the L.A. Fairfax district, where the brand’s flagship store is located. The platform utilizes Unreal Engine 5, enabling brands to produce assets more efficiently through self-managed web-based tools. The vision of some.place founders Lana Hopkins and Juliana Di Simone is to prioritize intimacy and rewarding experiences for fans while empowering brands to engage with their audience in novel ways, moving away from social media and third-party data. David Yoshida, VP of Web3 Strategy & Partnerships at Razorfish, considers some.place a user-friendly option for brands to explore Web3 while remaining rooted in Web2. Bobby Kim, co-founder of The Hundreds, enthusiastically labels the platform as “the future of commerce” and emphasizes its potential for community engagement, shopping, and socializing, free from gamification.
The collaboration between Prada and The Hundreds demonstrates the incredible outcomes that can arise when two iconic brands unite to innovate. We commend them for their trailblazing efforts in the fashion industry and their willingness to explore the cutting-edge technologies of blockchain and Web3 collectibles. #DigitalTrailblazers #BlockchainInFashion #PradaAndTheHundreds