French luxury fashion house Louis Vuitton has announced that it will be launching a new physical-linked NFT collection called Treasure Trunks.
The collection is the first in a series of projects by the luxury brand that look to offer the brand’s elite clientele with exclusive perks and experiences.
The collection will consist of a few hundred NFTs, with each Treasure Trunk NFT coming with a matching made-to-order Louis Vuitton trunk. A Louis Vuitton trunk sells for tens of thousands of dollars. The collection will open for registration on the 8th of June, 2023. It will only be available to consumers who are based in the United States of America, France, Canada, the United Kingdom, Japan, Australia, and Germany.
Select customers will be able to purchase the NFTs from the 16th of June onwards, with each NFT priced at $42,000. Treasure Trunk NFT holders will also receive a physical replica of their Treasure Trunk. This will unlock exclusive access to upcoming Louis Vuitton products and exclusive immersive events. The luxury brand also plans to release further limited-edition experiences and products regularly.
Part Of A Larger ProjectThe collection is part of a larger initiative by Louis Vuitton called Via, from the Latin word for road. Treasure Trunk NFT owners can also purchase digital keys and gain access to future Louis Vuitton NFT collections. Furthermore, the Treasure Trunk NFTs and future NFTs will be sold as soulbound tokens. This means holders will not be able to transfer them to others once they have been purchased. Holders will also not be able to sell their Treasure Trunks.
The luxury brand has been expanding its presence in the blockchain ecosystem for several years. In 2019, its parent entity, LVMH, announced plans to roll out the Aura blockchain to help with the tracking of luxury goods. In 2021, Louis Vuitton announced a partnership with fellow luxury brands Prada and Cartier to create the Aura Blockchain Consortium. The primary aim of this consortium was to crack down on counterfeit products. It also released a free-to-play game called “Louis The Game,” offering players the chance to win 30 NFTs to celebrate the brand’s 200th birthday.
Several other brands have also looked at experimenting with NFTs and blockchain. Balmain has been developing an NFT-backed club exclusively for its niche customers. Another brand, Ralph Lauren, is hosting exclusive events for Web3-initiated customers.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
