Unzipping the future: Louis Vuitton’s luxurious €39,000 NFT trunks
In a blend of luxury and technology, Louis Vuitton has found an unchartered course, leading the high-end brand into the world of NFTs. Not just any digital asset, the fashion powerhouse is offering an exclusive collection of phygital “Treasure Trunks,” which act as an access pass to a host of future products, privileges, and a community of like-minded holders.
A new chapter in luxury
Louis Vuitton‘s new stride into the world of non-fungible tokens isn’t a mere dabbling in the current trend, but a thoughtful stride into the future of luxury. The brand’s “Treasure Trunks” comes at a whopping €39,000 a piece, and only a few hundred will be up for grabs. It’s part of a new project, appropriately named “Via,” the Latin word for road. As a luxury pioneer, Louis Vuitton seeks to use this digital pathway to offer exclusive products and experiences, both physical and digital, setting a unique trend in the NFT ecosystem.
Navigating the metaverse
Louis Vuitton’s initial venture into the realm of NFTs took form in a free-to-play game, Louis the Game, designed to educate players on the brand’s illustrious history. However, this time around, the fashion giant is focusing on cultivating a long-term community of NFT holders, rewarding them with exclusive access to products and experiences. This digital evolution reflects LVMH Chief Executive Bernard Arnault’s outlook on the NFT scene, hinting at high-value items being the ideal approach in blending luxury with the metaverse.
The road to Via
Aspiring owners can register for one of these prized trunks starting from 8 June on a dedicated website, provided they reside in selected countries. The chosen registrants will then receive an invitation to delve deeper into the world of Via through a private webpage. Following this, on 16 June, they will have the chance to purchase their Via Treasure Trunk using either cryptocurrency or fiat currency.
The Luxury locked within
But the journey doesn’t end there. Holders will periodically have the opportunity to purchase bespoke “keys” that unlock access to additional products. Unlike the conventional NFT market, these trunks are “soul-bound collectibles,” aiming to foster brand loyalty and prevent flipping. These future products come with a unique record of ownership and proof of authenticity. This selective approach aligns with the brand’s exclusive luxury ethos, ensuring that these digital assets retain the prestige associated with the Louis Vuitton name.
Luxury’s digital transformation
Louis Vuitton’s controlled foray into the NFT space reflects a strategy at odds with its competitors, such as Gucci‘s prolific and varied approach. Their methodology resonates more with the likes of Tiffany’s strategy and the traditional luxury market. With the appointment of NFT early adopter Pharrell Williams as the new men’s creative director, it seems that Louis Vuitton’s leap into the digital sphere is just the beginning of a long-term journey, promising a unique fusion of luxury and technology.
