Louis Vuitton Set to Launch $42,000 Physical-Backed NFT Trunks
French luxury fashion house Louis Vuitton has announced its first non-fungible token (NFT) collection, with each iconic-trunk-turned-digital-collectible coming with a tag of nearly $42,000.
According to Vogue Business, the fashion giant has prepared a collection of phygital "Treasure Trunks". These NFTs will also serve as access passes to future products, experiences, and the community of holders.
There will be "several hundred" trunks available, with each piece costing €39,000 ($41,685). Their owners will not be able to sell them or gift them to somebody else. They can't be returned either.
To get a trunk, customers from the US, Canada, France, the UK, Germany, Japan, and Australia can put their names on a waiting list on June 8.
They'll need to connect their crypto wallets and provide some personal details. Both crypto and fiat can be used to buy a trunk.
On June 14, the company will invite selected customers to first learn about the 'Via' project and then to buy a trunk two days later. The physical trunk will also be delivered to the NFT holders.
This particular launch is a part of Via, a project created by the company to include novel technologies, such as blockchain and NFTs.
Via (meaning 'road' in Latin) is a new chapter in the company's existence, the report noted, and one of the things the house focuses on is traceability. For example, it uses the Aura blockchain for its LV Diamonds collection.
That said, 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 30 available postcards.
Also, in January last year, LVMH chief executive Bernard Arnault suggested that
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