NFTs: how top brands like Nike and Prada are using them – and what could go wrong

Forget real sneakers – soon we'll be more worried about the digital variety. naratrip2

Luxury fashion house Prada has a scheme for customers who want something even more exclusive than its usual range of clothing and accessories. Each month, on a first-come first-served basis, the Time Capsule Collection offers ultra-limited editions of Prada products. They’re only on sale for 24 hours, with purchases delivered straight to customers’ doors.

For the new June edition, there’s an extra twist. Those who buy one of only 100 black and white button-down shirts by Cassius Hirst, son of renowned British artist Damien, will receive an NFT (non-fungible token) as part of the experience. They are GIFs of the black and white capsules that Prada uses to brand these events, and they’re also being made available to purchasers of previous editions.