Luxury brands such as Gucci, Balmain, and Balenciaga are getting into cryptocurrency, and Prada is following suit with the release of its own NFTs.

Prada will launch 100 Ethereum NFTs this Thursday to coincide with the release of its latest Timecapsule apparel. NFTs are one-of-a-kind blockchain tokens that represent asset ownership.

Buyers of Prada's latest collaboration with Cassius Hirst, son of artist Damien Hirst, will receive a free airdropped NFT in addition to their physical merch purchase.

The Prada x Cassius Hirst unisex button-down shirts are available in black or white, and the corresponding NFTs are a GIF of the pill capsule in black or white. The NFTs will include a number associated with each physical shirt as well as the drop's serial number.

The Hirsts are no strangers to NFT, first Damien's collection, "The Currency," was released in July of last year and now has a floor price of 5.2 ETH ($9,360) per NFT nearly a year later.

In contrast to Damien's NFT drop, Prada's NFTs from its Cassius drop will not force buyers to choose between a digital or physical asset—they will receive both.

Prada's latest NFT release is the work of the Aura Blockchain Consortium. Aura is a charitable organization founded by LVMH, Prada, and Cartier. It makes use of Quorum, an Ethereum-based blockchain platform that provides blockchain as a service, ConsenSys Rollups, and other blockchain products.

Prada's Timecapsule releases began in 2019 as a way for the brand to release limited edition items. According to a statement, buyers of previous Timecapsule drops will also receive NFTs at a later date.

However, this is not Prada's first NFT project. The brand previously collaborated with sportswear brand adidas to release the "adidas for Prada re-source" collection on Polygon in January (that collection has only seen 469 ETH in total volume traded, and its floor price is only 0.08 ETH, or $160, per NFT).

Prada's latest foray into NFTs suggests that the brand's primary focus remains on physical items, with NFTs serving as an added bonus. While some may still regard NFTs as a novelty, luxury brands could greatly benefit from blockchain-based product authentication.