When the distinguished Louis Vuitton launched its first NFT recreation in 2021, the world was shocked: little did they know this was only the start. Lately, Louis Vuitton additionally made headlines with its ultra-limited NFT Treasure Trunk drop, which grants entry to its unique group – and it could be definitely worth the $39,000 worth.
In any case, that is the second hottest luxurious model of the yr and some of the influential style corporations of all time. It loves innovation whereas additionally staying true to its roots and core idea courting again to 1854.
The truth is, this title had already entered the NFT area in August 2021 as one of many first bodily luxurious style NFTs to debut the market. By June sixth, 2023, Louis Vuitton had bought over $41,700 value of NFTs.
Its newest assortment, the VIA Treasure Trunk NFTs, brings the idea of exclusivity to a brand new stage whereas that includes the identical design as its authentic 1858 trunks.
However how does the posh style large keep related within the ever-changing world of NFTs?
Let’s return to the roots to seek out out.
Louis Vuitton, a Style Icon
In 2023, the phrases ‘Louis Vuitton’ are nearly synonymous with ‘luxurious style.’ Based in 1854, the French model’s empire now has a $500 billion market worth.
From footwear to perfumes, jewellery, and equipment, the corporate expanded its success past clothes. Their costliest merchandise, the Steiff Louis Vuitton Teddy Bear, prices greater than $2.1 million – a report worth for a style model.
One of many principal causes Louis Vuitton stayed related for over 150 years is its want to innovate. As we speak, the rising Web3 style area of interest gives the proper event to evolve within the digital future – right here’s how:
Style within the NFT World
These days, the style NFT market is a power to be reckoned with within the Web3 world. This business has amassed over $250 million in gross sales by 2023, and for an excellent cause: folks’s digital look is now extra essential than ever.
Festivals, firm conferences, and holidays all occur within the metaverse proper now. Folks care about their digital seems to be simply as a lot as they do in actual life. After all, that is the proper setting for high-profile manufacturers equivalent to Louis Vuitton to affix the Web3 area and set the usual for style luxurious through NFTs.
The Historical past of Louis Vuitton and NFTs
On the time of writing, Louis Vuitton is making headlines with its VIA treasure trunk NFT drop. Nonetheless, the posh style large has been current on the NFT marketplace for over two years. From PFP collections to commissioned digital property and video games, this model takes a distinct method with each new launch.
With that mentioned, let’s journey again to August 2021 when Louis Vuitton launched its first blockchain recreation expertise: ‘Louis, The Sport.’
Louis Vuitton NFT Sport
In August 2021, the NFT market was exploding with new initiatives. As a pioneer of the posh style NFT area of interest, Louis Vuitton partnered with web3 artist Beeple for an NFT recreation.
In essence, ‘Louis: The Sport’ stars the model’s mascot, Vivienne, on a digital journey by way of France. For the reason that recreation celebrated what would’ve been Louis Vuitton’s 2 hundredth birthday, the journey additionally resembles the one Vuitton himself took when he was 14.
Whereas exploring the whimsical environment, gamers might accumulate 30 NFTs (ten of which had been designed by Beeple). As well as, the blockchain recreation additionally shocked gamers with digital candles that exposed 300 trivia postcards about Louis Vuitton.
The immersive expertise additionally got here with a themed PFP assortment, additionally starring the mascot Vivienne. Though Louis Vuitton has lengthy ended the mint, Vivienne NFTs can be found on Opensea with a prime worth of 200 ETH.
Obtainable through Android and Apple app shops, ‘Louis: The Sport’ sparked curiosity amongst gamers. In any case, Louis Vuitton was no stranger to the video gaming business. The model beforehand partnered with League of Legends for a themed assortment.
Quick-forward to 2023, the posh style model makes headlines with a brand new unique drop: the VIA Trunk NFT assortment.
The Louis Vuitton VIA Treasure Trunks NFT Assortment
On June sixth, Louis Vuitton revealed its most unique (and costly!) NFT assortment but: the Treasure Trunks. Very like their title suggests, the digital property supply entry to restricted Louis Vuitton objects and experiences.
However wait! There’s a catch: every Treasure Trunk NFT will come locked. With a view to really unlock the experiences it gives, you additionally must mint a digital key that Louis Vuitton will launch sooner or later. If you open your digital Treasure Trunk, additionally, you will obtain its corresponding bodily model.
By way of design, the NFT assortment shares the identical particulars because the very first trunks designed by Louis Vuitton in 1858. The truth is, the model celebrated the distinctive launch at its household Maison in Paris!
Surprisingly, the attendee record additionally featured a few of the prime names within the NFT business. As an illustration, the Deadfellaz co-founder BETTY joined the occasion and described it as a ‘deep-dive on the following period of the model.’ The NFT group shared her pleasure and curiosity as to how luxurious style manufacturers will proceed their web3 journeys.
Louis Vuitton NFT Mint
Accordingly, the model will solely launch a couple of hundred collectibles. The worth of a Louis Vuitton Treasure Trunk NFT is €39,000 with taxes or $39,000 with out taxes for US residents.
Collectors can mint their Treasure Trunk on the official Louis Vuitton platform. Be aware that the model solely accepts fiat, so crypto funds aren’t obtainable. The truth is, even this element speaks for the model’s want to maintain its worth and status intact within the unstable crypto world.
In accordance with Louis Vuitton, the Treasure Trunk NFT assortment is not going to be tradeable on secondary platforms like OpenSea. So, the few hundred of people that purchase a VIA Treasure Trunk NFT may have entry to the portal ceaselessly. Nonetheless, members will be capable of promote any digital asset launched for the VIA group.
The Web3 Way forward for Louis Vuitton
From web3 video games to unique NFTs, Louis Vuitton is among the few manufacturers to form the time period ‘luxurious’ within the Web3 area. Regardless of its innovation, the corporate showcases the founder’s legacy with each new launch.
These ideas show how a lot Louis Vuitton goals to protect the picture it has created IRL for over 150 years. In contrast to many rivals who modified their method primarily based on the NFT communities, Louis Vuitton has its personal roadmap.
Contemplating that their NFTs are tradeable on OpenSea, too, Louis Vuitton NFTs could be a super long-term digital funding.
