Louis Vuitton joins a group of luxury brands stepping their foot into the world of non-fungible tokens.
The iconic French luxury label, Louis Vuitton, is set to introduce a unique series of non-fungible tokens (NFTs) valued at roughly $41,712 (€39,000) each to cater to their elite clientele with specialized products and experiences.
As per a report by Vogue Business, drawing inspiration from the brand's signature luggage trunk, the limited "Treasure Trunks" series comprises merely a few hundred NFTs.
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Each NFT in this series comes bundled with a corresponding custom-made physical Louis Vuitton trunk, known for the price tags of thousands of dollars.
These NFTs, designated as "soulbound," cannot be exchanged or transferred among individuals. Only the original purchaser of a "Treasure Trunk" NFT will gain access to unique, customizable products, priority access to new launches, and tailor-made experiences.
Starting June 8th, aspirants residing in the US, Canada, the UK, France, Germany, Japan, and Australia will have the opportunity to register on a waiting list. Louis Vuitton will also invite selected registrants to acquire a Treasure Trunk using fiat or cryptocurrency, such as Bitcoin (BTC) or Ether (ETH).
The "Treasure Trunk" initiative is reportedly only the first project in Louis Vuitton's ongoing series titled "Via," which aims to provide elite clientele with unparalleled and unique access to the brand.
In adopting this approach, Louis Vuitton joins other luxury brands that are using blockchain technology to create an elite membership club catering to a select group rather than promoting inclusivity and mass engagement.
In April, the luxury brand Gucci teamed up with Yuga Labs to introduce a unique pendant for the Otherside Metaverse, named the "KodaPendant."
It's evident that the world of luxury fashion is increasingly merging with the realm of blockchain, and Louis Vuitton's move into exclusive NFTs is just another manifestation of this trend.
