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Prada, Adidas Launch NFT Project on Polygonon January 2022

Prada, Adidas Launch NFT Project on Polygonon January 2022. Italian luxury fashion house Prada and sportswear giant Adidas. which recently ventured into the metaverse, have joined forces to launch a new non-fungible token (NFT) project built on the Polygon network. The project will allow fans to contribute their own designs.

Prada and Adidas Originals said they will auction a collection of NFTs designed by the digital artist Zach Lieberman on SuperRare between Jan. 28 and Feb. 3. The proceeds from the NFT sale will be donated to a charity supporting artists and creators.

adidas and @Prada explore a selection of apparel & accessory pieces carrying the DNA of both partners. Complementing the collection with a reinterpretation of the Forum through the addition of Prada’s signature Re-Nylon textile and mini-pouch attachments.

— adidas Originals (@adidasoriginals) January 5, 2022

Luxury metaverse

“Prada sees the emergent metaverse as a new space for the brand to re-define luxury for the next generation and cultivate shared experiences that honor the brands’ spirit of experimentation and creativity,” Lorenzo Bertelli, Prada’s marketing director and head of corporate social responsibility, told CoinDesk in a statement.

Most recently, leisure footwear company Crocs filed a trademark application on Jan. 11 that would expand its brand into the realm of NFTs. In January, The Gap announced it teamed up with InterPop to launch its first collection on the Tezos blockchain.

Luxury fashion brands are already making millions of dollars from auctioning off NFTs. In September, Italian haute couture label Dolce & Gabbana launched its NFT collectionCollezione Genesi, which fetched approximately $5.65 million in a sale.

The latest high-fashion foray into Web 3 includes a metaverse angle as well.Read MoreCoinDesk

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