Louis Vuitton to launch $42k NFT trunks.

The French luxury fashion house, Louis Vuitton, has announced its first non-fungible token (NFT) collection. Each iconic trunk has been transformed into a digital collectible and will cost nearly $42,000. According to Vogue Business, the fashion giant has created a collection of phygital “Treasure Trunks”. These NFTs will also serve as access passes to future products, experiences, and the community of holders. A limited number of several hundred trunks will be available, and each piece will cost €39,000 ($41,685). Customers from the US, Canada, France, the UK, Germany, Japan, and Australia can put their names on a waiting list starting from June 8. Customers will need to connect their crypto wallets and provide personal details, and both crypto and fiat can be used to buy a trunk. On June 14, the company will invite selected customers to learn about the ‘Via’ project and then buy a trunk two days later. The physical trunk will also be delivered to the NFT holders.

The Via project is a new chapter in the company’s existence and includes novel technologies, such as blockchain and NFTs. Via (meaning ‘road’ in Latin) is focused on traceability, and for example, Louis Vuitton uses the Aura blockchain for its LV Diamonds collection. In January last year, LVMH chief executive Bernard Arnault suggested that the company had more plans for NFTs and the metaverse. He said during an earnings call that, “We have to see what will be the applications of the metaverse and NFTs. It can undoubtedly have a positive impact—if it is well done—on the activity of the brands, but it is not our objective to sell virtual sneakers at €10. We are not interested in that.”

Louis Vuitton is not a complete stranger to NFTs. It launched its free-to-play ‘Louis the Game’ in 2021. The goal was to provide a way for players to learn about the company’s history and potentially win one of the 30 available postcards.

The Via Treasure Trunks Holders will be given a chance to periodically buy keys that give them access to additional products, starting in mid-June. New products will come with a record of ownership and proof of authenticity, and some of the products will be customized for each trunk owner. Owners are allowed to sell the products they unlock with keys.

It is interesting to note that Louis Vuitton made its move at a time of general calm in the NFT realm. While it’s very likely that NFTs will be back in the spotlight eventually, many seem to be currently focused on other tech categories, notably artificial intelligence (AI).

For more information on the fashion industry’s collaboration with the metaverse/NFT realm, please see below:

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Learn more:

– Luxury Brand Gucci Collaborates with Bored Ape Creator Yuga Labs for Metaverse Project – Crypto Adoption on the Rise? – TAG Heuer to Allow Users to Display NFTs on Their Smartwatches – How Fashion and NFTs Found Themselves in a Beneficial Partnership – How to Create an NFT?

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