Louis Vuitton Enters NFT Market With $41,000 Luxury Digital Assets
- Louis Vuitton to debut a limited series of NFTs, each priced at about $41,712, which will unlock exclusive products and experiences for high-level customers.
- The NFTs are called “Treasure Trunks,” which will come with a matching, made-to-order physical Louis Vuitton trunk.
- Beginning June 8, potential holders can register on a waitlist and only selected registrants will then be invited to purchase a Treasure Trunk with cryptocurrency or fiat on a dedicated site.
French luxury fashion house Louis Vuitton is taking the next step in the world of blockchain technology by debuting a limited series of non-fungible tokens (NFTs), known as “Treasure Trunks,” that is set to unlock exclusive products and experiences for high-level customers.
The Treasure Trunks NFTs will be priced at about $41,712 (€39,000) each and will consist of only a few hundred. The collection is inspired by Louis Vuitton’s iconic luggage trunk and each NFT comes with a matching, made-to-order physical Louis Vuitton trunk that is sold for tens of thousands of dollars.
The NFTs will be “soulbound,” which means they cannot be traded or transferred between individuals. The original owner of a Louis Vuitton Treasure Trunk is the only one who will be able to use it to access exclusive customizable products, early releases of new products, and bespoke experiences.
Beginning June 8, potential holders who reside in the U.S., Canada, the U.K., France, Germany, Japan, and Australia can register on a waitlist. Only selected registrants will then be invited by LV the following week to purchase a Treasure Trunk with cryptocurrency or fiat on a dedicated site.
The Treasure Trunk collection is reportedly just the first project in an ongoing Louis Vuitton series called “Via,” which will focus on granting exclusive and rarified access to the Louis Vuitton brand to high-paying, select clientele.
Louis Vuitton is not the only luxury brand that has taken an interest in blockchain technology. Many luxury brands, including Louis Vuitton, have previously experimented with NFT games and programs intended to reach wide audiences. However, in the last year, these brands have pivoted away from such plays and towards expensive, limited lines of NFTs that reward high-impact customers.
Balmain has been developing an exclusive NFT-backed club for top-tier customers since last summer. In April, Ralph Lauren began hosting exclusive events for Web3-initiated customers at a themed private waterfront estate in Miami. Louis Vuitton, therefore, is following in the footsteps of these brands by creating a series of NFTs that cater to a select few, turning blockchain technology into an ultra-elite membership club.
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