Prada celebrates first year on Web3 with exclusive Tokyo invite

By

Dominique Muret

Translated by
Nicola Mira

Published
May 3, 2023

On Thursday May 4, Prada is celebrating its first Web3 anniversary, having launched its first NFT a year ago. For the occasion, the Italian luxury label has decided to give one of its most loyal customers the chance to enjoy a special experience. With the 12th drop of Prada’s limited-edition Timecapsule NFT, the label will add to the non-fungible token that comes with each product an exclusive invitation to its itinerant Prada Mode private club, which will be stopping over in Tokyo on May 12 and 13.
 

The Timecapsule project was launched in December 2019. It is a limited-edition ready-to-wear collection that, on the first Thursday of each month, introduces a new exclusive model produced in 50 copies, available for purchase only for 24 hours on the label’s e-shop in a limited number of markets. Each item is associated with a serial number and delivered in a customised package.
 
In June 2022, Prada added a virtual dimension to the project, by creating for each new edition an NFT that comes with each item purchased. The token gives buyers priority access to future drops, as well as the chance to enjoy additional experiences and benefits, such as being able to access the Prada Crypted community, on the label’s shared server on Discord.

From the outset, the Timecapsule NFT initiative has met with unprecedented success, with each launch immediately running out of stock. The May drop consists of a performance fabric tank top with wide vertical stripes in yellow, grey and black. It is model no. 41 of the Timecapsule collection.
 
“Through this initiative, Prada is creating a unique experience that combines its rich heritage and creativity with innovative technology, and uses archival materials to offer a phygital experience to collectors,” said the label in a press release, underlining that the project has, among other things, enabled the winners within the Prada Crypted community “to attend shows and cultural events organised by the label.”
 
For example, the August edition’s winner, who hailed from Dubai, won a trip to Milan with a guest of their choice. The two attended the label’s show in September and were treated to a meal at a Michelin-starred restaurant in Bergamo. They also received a total look by Prada and were given a guided tour of the Prada Foundation, and a dinner at the foundation’s Ristorante Torre.
 
The next winner will be able to fly to Tokyo, where they will have the chance to attend the ninth edition of Prada Mode, on May 12 and 13. The event will be hosted by Tokyo’s Teien Metropolitan Museum of Art, where visitors will be able to explore art in different forms and discover the museum’s historical architecture and the artworks selected by Kazuyo Sejima, the museum director, an architect and long-time collaborator of Prada.