When the celebrated Louis Vuitton launched its first NFT sport in 2021, the world was shocked: little did they know this was just the start. Just lately, Louis Vuitton additionally made headlines with its ultra-limited NFT Treasure Trunk drop, which grants entry to its unique group – and it is perhaps well worth the $39,000 worth.
In spite of everything, that is the second hottest luxurious model of the yr and one of the vital influential trend corporations of all time. It loves innovation whereas additionally staying true to its roots and core idea relationship again to 1854.
In actual fact, this identify had already entered the NFT house in August 2021 as one of many first bodily luxurious trend NFTs to debut the market. By June sixth, 2023, Louis Vuitton had offered over $41,700 value of NFTs.
Its newest assortment, the VIA Treasure Trunk NFTs, brings the idea of exclusivity to a brand new degree whereas that includes the identical design as its authentic 1858 trunks.
However how does the luxurious trend large keep related within the ever-changing world of NFTs?
Let’s return to the roots to seek out out.
Louis Vuitton, a Vogue Icon
In 2023, the phrases ‘Louis Vuitton’ are nearly synonymous with ‘luxurious trend.’ 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 trend model.
One of many essential causes Louis Vuitton stayed related for over 150 years is its want to innovate. At present, the rising Web3 trend area of interest presents the right event to evolve within the digital future – right here’s how:
Vogue within the NFT World
These days, the style NFT market is a drive to be reckoned with within the Web3 world. This business has amassed over $250 million in gross sales by 2023, and for a great motive: folks’s digital look is now extra essential than ever.
Festivals, firm conferences, and holidays all occur within the metaverse proper now. Individuals care about their digital seems simply as a lot as they do in actual life. In fact, that is the right setting for high-profile manufacturers akin to Louis Vuitton to hitch the Web3 house and set the usual for trend 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. Nevertheless, the luxurious trend 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 strategy with each new launch.
With that stated, let’s journey again to August 2021 when Louis Vuitton launched its first blockchain sport expertise: ‘Louis, The Sport.’
Louis Vuitton NFT Sport
In August 2021, the NFT market was exploding with new initiatives. As a pioneer of the luxurious trend NFT area of interest, Louis Vuitton partnered with web3 artist Beeple for an NFT sport.
In essence, ‘Louis: The Sport’ stars the model’s mascot, Vivienne, on a digital journey by means of France. For the reason that sport 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 acquire 30 NFTs (ten of which had been designed by Beeple). As well as, the blockchain sport additionally stunned 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.
Out there through Android and Apple app shops, ‘Louis: The Sport’ sparked curiosity amongst gamers. In spite of everything, 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 luxurious trend 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 similar to their identify suggests, the digital property provide entry to restricted Louis Vuitton gadgets and experiences.
However wait! There’s a catch: every Treasure Trunk NFT will come locked. To be able to really unlock the experiences it presents, you additionally should mint a digital key that Louis Vuitton will launch sooner or later. While 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. In actual fact, the model celebrated the distinctive launch at its household Maison in Paris!
Surprisingly, the attendee checklist additionally featured a few of the prime names within the NFT business. As an example, the Deadfellaz co-founder BETTY joined the occasion and described it as a ‘deep-dive on the subsequent period of the model.’ The NFT group shared her pleasure and curiosity as to how luxurious trend manufacturers will proceed their web3 journeys.
Louis Vuitton NFT Mint
Accordingly, the model will solely launch just a few 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. Observe that the model solely accepts fiat, so crypto funds usually are not out there. In actual fact, even this element speaks for the model’s want to maintain its worth and status intact within the unstable crypto world.
Based on 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 eternally. Nevertheless, members will be capable to 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 house. 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. Not like many opponents who modified their strategy primarily based on the NFT communities, Louis Vuitton has its personal roadmap.
Contemplating that their NFTs are tradeable on OpenSea, too, Louis Vuitton NFTs is perhaps a really perfect long-term digital funding.
