The renowned French luxury fashion house, Louis Vuitton, recently made a noteworthy move into the non-fungible token (NFT) arena. Unveiling an exclusive collection of NFT “Treasure Trunks”, the brand has taken a bold step towards integrating blockchain technology into its operations.
Louis Vuitton lance une nouvelle collection NFT appelée “Treasure Trunks”.
Chaque NFT coûtera 42 000 $.
Ces NFT seront des soulbound token et ne seront pas transférables.
Leurs détenteurs auront droit à des produits et des expériences exclusives. pic.twitter.com/zpm3S64ZhD
— Goku 🗞 (@Crypto__Goku) June 6, 2023
Decoding the ‘Treasure Trunks’
Transforming their iconic trunks into digital collectibles, Louis Vuitton has priced these unique NFTs at a substantial €39,000 ($41,685) each. In a unique twist, these digital assets aren’t available for resale, gifting, or returns.
Exclusive Perks for Trunk Holders
Interestingly, these NFTs are not just digital representations of the brand’s iconic luggage. They also serve as VIP passes to a variety of benefits. Trunk owners gain exclusive access to upcoming products, novel experiences, and a vibrant community of fellow holders.
Acquiring a ‘Treasure Trunk’
Prospective buyers from selected countries including the US, Canada, France, the UK, Germany, Japan, and Australia, can express their interest by signing up on a waiting list starting today, June 8. The purchase process will involve linking their crypto wallets, supplying some personal information, and using either crypto or fiat currencies for payment.
The ‘Via’ Project and Beyond
This launch is part of Louis Vuitton’s wider ‘Via’ project, a novel initiative that introduces blockchain and NFT technology into the company’s operations. Via (Latin for ‘road’) represents a new phase in the fashion house’s evolution, placing a particular emphasis on product traceability.
Louis Vuitton’s Previous NFT Experiment
Louis Vuitton isn’t entirely new to the NFT landscape. They first dipped their toes into the digital waters in 2021 with ‘Louis the Game’, a free-to-play experience aimed at educating players about the brand’s history. This move into NFTs comes at a relatively quiet time in the market, amidst a wider tech focus on AI.
Future Plans for NFTs
Despite the market’s current lull, Louis Vuitton remains committed to its NFT venture. Going forward, Treasure Trunk Holders will periodically receive opportunities to purchase keys to unlock additional products. These items will come with a certificate of ownership and authenticity. Interestingly, unlike the trunks themselves, these unlocked products can be sold.