NFTs at the heart of a project by Prada and the Kalush Orchestra group

Following its first foray into the non-fungible token (NFT) space with the Adidas for Prada project in partnership with digital artist Zach Lieberman and SuperRare, iconic fashion brand Prada has just announced its first independent collection of NFTs accompanying the Prada Timecapsule. At the same time, the Ukrainian group Kalush Orchestra plans to support Ukraine using non-fungible tokens (NFT).

Prada Timecapsule at the heart of critics

Launched in December 2019, Prada Timecapsule, an event that takes place online on the first Thursday of every month, gives millions of people exclusive access to items from the famous brand on its website for 24 hours. it allows the fashion brand to use NFT to promote its products and promote it.

Some members of the NFT community have criticized Prada’s NFT efforts, arguing that the Adidas for Prada project has provided relatively little utility value since its release. The asset currently trades on OpenSea for 0.08 ether (ETH) and has 2,700 owners.

Support Ukraine using Non-Fungible Tokens (NFT)

As Prada continues to think about what solutions it can implement to keep its audience happy, Eurovision winner Kalush Orchestra has announced that it aims to raise $900,000 for Ukraine. To this effect, after he won the hearts of millions of people around the world during the 66e edition of the Eurovision Song Contest in Italy, he made an important decision.

Kalush Orchestra has revealed that it wants auction hot pink hat and trophy of the glass microphone awarded to him at the global ceremony to raise funds for Ukraine. On this occasion, an NFT representation of the microphone will soon be unveiled on the WhiteBIT cryptocurrency exchange which has proven to be the most generous company. She released 50 ETH, or $900,000, to support Kalush Orchestra.

All funds raised from fiat and NFT auctions will be donated to the Serhiy Prytula Foundation, headed by Ukrainian TV presenter and actor Serhiy Prytula. “You are amazing. We appreciate everyone who has donated to this auction and a special thank you to the WhiteBit team who purchased the trophy for $900,000 and are now its rightful owner,” the group said on Facebook.

All over the world, cryptocurrencies and non-fungible tokens (NFTs) are used for the purpose of performing various actions. As the Prada brand plans to step up a gear when it comes to its Prada Timecapsule project, in Ukraine, Kalush Orchestra wants to use NFTs to bring some support to Ukraine.

Source : Cointelegraph

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NFTs at the heart of a project by Prada and the Kalush Orchestra group

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