NFT's launched by Prada case study thumbnail image which is showcasing some of their released NFTs

NFTs Are Changing the Face of Luxury Brands

‘Web3 is like social media 10 years ago or e-commerce 20 years ago. We need to build our own space in Web3.’ — Txampi Diz

Introduction

NFTs have become a new social norm. Every major brand is getting in on the trend, teaming with digital artists to create their own NFTs.

From fashion houses to eyewear, time pieces and spirits, luxury goods companies are leading the digital charge. 

NFT marketing, when coupled with existing luxury brand marketing strategies, is proving to be an effective way for companies to connect with customers more closely. In 2021, Prada, LVMH, and Cartier teamed up to create the Aura Blockchain Consortium.

This blockchain solution platform can track product history and ownership while verifying product authenticity.Louis Vuitton and Burberry have also launched their own NFT collections, providing digital apparel for video games. 

Case Study 1

Tag Heuer debuted the Connected Calibre E4 smartwatch, enabling users to display their collection of NFTs.

The luxury watch can be securely paired with a smartphone to showcase NFT artworks in three unique ways.

As the first of its kind, the technological accessory allows NFTs and digital identity to enter the physical world in a new and exciting form. 

Case Study 2

Prada just launched its 32nd Timecapsule collection along with NFTs.

This drop features a shirt made from a variety of Prada’s upcycled fabrics, including a Frankenstein-inspired print created by artist Jeanne Detallante and an NFT of the shirt itself. A Timecapsule NFT holder will have access to events, including a Prada experience in Milan and an invitation to its upcoming fashion show.

Since December 2019, the Timecapsule initiative has been held monthly by Prada in which limited edition items go on sale for 24 hours in certain markets.

There are often only 50 editions available on a first-come, first-served basis. The limited edition physical items have become paired with NFTs since June 2022.

Case Study 3

Dolce and Gabbana’s collaboration with UNXD was an undeniable success. Titled Collezione Genesi, the collection consisted of nine pieces:  five NFTs that were accompanied by custom physical pieces and four strictly digital NFTs. The collection sold out for a shocking $6 million.

Case Study 4

Gucci marked its entrance into NFTs through auctioning  its short film Aria as an NFT.

The four minute video was created and co-directed by Alessandro Michele, the brand’s creative director, together with photographer Floria Sigismondi. The NFT sold at Christie’s for $25,000 in June 2021.

How Supercraft Can Help

At Supercraft, we are simplifying the process of launching Phygital and Digital Product NFTs for brands, enabling you to unlock multi-tiered community and membership features around your product.

With our tools and API, you can reach out to your existing customers and engage new buyers with special experiences ranging from access passes to events to giving you feedback on the next best-selling product you should create!  

Buyers are able to showcase their ‘Proof of Possession’ of your product using the NFT they hold, which they can share on their social media channels; they can join your buyer community through the Digital Community Pass. 

Conclusion

If you are a sports shoe brand, or any brand whose product has a strong brand recall, unlocking new ways of engaging your fanbase might be just round the corner. Schedule a call with us to learn more.