Louis Vuitton launches a 10,000 free NFT partnership with Yayoi Kusama
The luxurious apparel brand Louis Vuitton, in conjunction with famous Japanese artist Yayoi Kusama, hit the airwaves as they launched their first NFT collaboration following the success of their first NFT game launched a few months ago.
Iconic first NFT collaboration by Louis Vuitton and Yayoi Kusama
The NFT collaboration by the two iconic figures in the international market brings 10,000 digital assets to the customers. Louis Vuitton prepares to celebrate their 200th anniversary by ensuring its customers have a seamless exchange of the offered 10,000 digital assets with tangible duplicates.
Louis Vuitton and Yayoi Kusama unveiled their first independent NFT game late last year, attracting massive followers. Records indicate that the game has attracted more than 2 million downloads.
Factors such as the recent rise in crypto prices and increased NFT trades across the markets have formed fodder for Louis Vuitton to unveil their free NFT collection.
The company intends to get revenues by subjecting the customers to a 7% royalty fee through the OpenSea marketplace. Yuga Labs implemented the same business model through the Bored Ape Yacht Club project and raised more than $1.8 million from royalties.
Price
The speculated price for the NFT will be about 4 ETH if the current trend of NFT prices released by other luxurious brands applies. The coming together of the two iconic brands of Kusama and Louis Vuitton brings a matchless twist to the NFT world by according collectors a sporadic chance to possess a piece with the legacy of both brands.
Significance of the NFT collaboration
The 93-year-old Japanese artist Yayoi Kusama is famous for her Infinity Rooms and iconic polka-dotted pumpkin signature, placing the artist at the world’s top. Social media and her recognition through different platforms stretch the influence of Kusama. Collaboration with the iconic figure gives Louis Vuitton, which equally has a significant effect in the apparel industry at the apex of customer attraction.
The partnership between artists and established businesses brings a new feature into co-creation and strengthens marketing incentives. Creating an NFT featuring Louis Vuitton and Kusama will appeal to customers of the two sides, thus attracting a higher audience than when the companies launch independent NFTs.
Awakening of luxurious brands in the NFT market
Over the last few months, luxurious brands have shown interest in the NFT market. The launch by Louis Vuitton depicts the outpouring of popularity that the NFT market has gained. Many luxurious brands have joined the bandwagon of embracing innovation to conform to the digital space. The broad customer base of Louis Vuitton and the reputation of Kusama is anticipated to bring a new trajectory in the digital arena.
The iconic e-commerce platform eBay collaborated with Notable Live to build an exciting environment for sports fans. The NFT collaboration between the e-commerce sites that boasts more than 142 million customers with Notable Live is another significant stride in the crypto industry. Although there is scant information on the blockchain to be used by the two iconic platforms, the two are creating an NFT collection.
