Prada Launches New Fashion NFT, As P2E Gaming Grows In India And Hong Kong

Prada Launches New Fashion NFT, As P2E Gaming Grows In India And Hong Kong

The non-fungible token (NFT) space continues thriving despite the recent general crypto market dump, with Prada Timecapsule, Eurovision Winner Kalush Orchestra, and RTFKT, among others, announcing crypto developments this week.

Mid this week, Prada, an iconic fashion brand, launched its first independent NFT, featuring the Prada Timecapsule. The recent development appears a few months after a similar project in partnership with Adidas, digital artist Zach Lieberman, and SuperRare, for Prada re-source.

Prada's New Timecapsule NFT Collection

Prada Timecapsule has been hosting an online event on the first Thursday of each month since December 2019, opening up exclusive access to clothing items on its website for 24 hours. Interestingly, the #30 series will integrate with an NFT.

According to Prada, the highly anticipated video artwork will consist of Cassius Hirst’s signature mask and unique brain scan, both elements symbolizing unity and togetherness.

Some members of the NFT community have criticized Prada’s initial foray with Adidas for Prada re-source, arguing that it has delivered relatively low utility value since its release. Prada’s re-source is currently trading for 0.08 Ether (ETH) and has 2,700 owners.

Eurovision Winner Orchestra Raises $900,000 In NFT For Ukraine

In a related crypto development, Kalush Orchestra, the Ukrainian hip-hop group and Annual Eurovision Winner, has successfully secured more than $900,000 in NFT sales to help out amid the current Russian invasion of Ukraine. Last month, the Ukrainian hip-hop group won the world’s 66th Eurovision Song Contest in Turin, Italy.

Kalush Orchestra received a vibrant pink hat and glass microphone, with the group launching new NFTs from these trophies. An NFT depicting the microphone was presented to the highest bidder on the European cryptocurrency exchange WhiteBIT, with an entry of 50ETH, equivalent to $900,000.

According to the hip-hop group “Kalush Orchestra,” all proceeds raised from fiat and NFT auctions will go towards the Serhiy Prytula Foundation, a non-profit organization led by Ukrainian TV presenter and actor Serhiy Prytula. The band said:

“You guys are amazing. We appreciate each and every one of you who donated to this auction, and a special thanks to the team WhiteBit who purchased the trophy for $900,000 and are now the rightful owners of our trophy.”

P2E Gaming Increases Across India And Hong Kong

Despite the recent crypto market tumble, the adoption of blockchain-based play-to-earn (P2E) gameplay has soared in many parts of the Asian region. According to a recent Finder survey, a market research firm for the geographical proportion of NFTs, India and Hong Kong is the leading gaming hub out of 26 countries surveyed.

Gaming giants like Axie Infinity, The Sandbox, Decentraland, and Solana-based StepN, have flooded the developing Asian regions to provide gaming fanatics with arguably more interconnected to medium gameplay.

What Are P2E Games?

According to the new survey, 28% of respondents revealed their experiences with the NFT gaming, with India and Hong Kong representing the highest figures of 33.8% and 28.7%, respectively. The United States came in at 9.4%.

More NFTs Developments

Elsewhere, the leading NFT fashion brand RTFKT Studios announced the winner of its Metaverse challenge mid this week, narrowing down a top list from more than a thousand submissions.

The avant-garde landscapes and immersive architectural designs showcased its viewers with a glimpse into the future of Metaverse worlds. The two winning loot pods will be on the creator marketplace before the end of this year.

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