The great Luis Vuitton enters the world of Web3 and NFTs with the so-called “Treasure Trunks.” This should be the first in a series of projects with which Luis Vuitton is trying to persuade the elite of his clientele to get into digital products.
The limited series of NFTs should fetch $ 41,712 (or 39,000 euros) each.
What do you get?
Customers of the famous fashion brand who manage to get an NFT will gain access to exclusive products and experiences, the company announced on Tuesday. The first collection consists of “several hundred” NFTs, according to one reporting in Vogue Business.
Each “Treasure Trunk” comes with a matching physical bag from Louis Vuitton, which normally sells for several tens of thousands of euros.
In that respect, you not only get a digital version of a bag, but also a physical object. Otherwise it might not be interesting for customers to join.
Fun fact is also that the NFTs are “soulbound”, which means that you cannot trade or send them. Only the owner of a Louis Vuitton Treasure Trunk can use the NFT to gain access to certain things and, for example, be the first to buy new products.
It seems that Dutch interested parties are currently still excluded. Only residents of the United States, Canada, United Kingdom, France, Germany, Japan and Australia will be given the opportunity to register for the waitlist.
Subsequently, based on that list, a selection is made of people who receive an invitation from Louis Vuitton to actually buy the NFTs with crypto or with fiat money.
Ultimately, Louis Vuitton’s plan is to build multiple collections in a series called “Via” that will give customers exclusive access to certain items belonging to the luxury brand.
Louis Vuitton is not the first major brand to come up with this idea. Parties such as Balmain and Ralph Lauren also participate in similar matters in the Web3 world. However, it is still nice to see that major brands are still showing an interest in crypto.