June 8, 2023
By Sharan Kaur Phillora
Louis Vuitton, the renowned French luxury brand, is preparing to launch a novel collection of non-fungible tokens (NFTs) tied to physical assets, dubbed Via Treasure Trunks, opening up the avenue for members-only merchandise and experiences. The high-end fashion brand has revealed its intention to issue 42,000 NFTs linked to physical items.
Here’s what we know:
This exclusive collection, consisting of several hundred digital trunks, will commence registration on June 8 for customers in the U.S., Canada, France, U.K., Germany, Japan, and Australia. Chosen customers will have the opportunity to acquire these NFTs on June 16 for a price of €39,000, roughly equivalent to $42,000.
The tokens come with a promise of utility; holders will receive a physical reproduction of their digital Treasure Trunk that also serves as a gateway to forthcoming Louis Vuitton products and immersive experiences. The company has expressed plans to unveil limited products and experiences “at regular intervals” throughout the year, as per a recent press release.
The collection is part of a larger initiative by Louis Vuitton named “Via”, derived from the Latin term for ‘path’ or ‘way’. Owners of Treasure Trunks will have the ability to purchase digital keys that allow them access to future Louis Vuitton NFT collections linked to physical items.
As reported by Vogue Business, these collectibles are sold as soulbound tokens, implying they cannot be transferred post-purchase. While NFT holders cannot resell their Treasure Trunks, they are free to sell individual items they mint subsequently.
In the upcoming months, the fashion industry and blockchain aficionados will closely watch the release of these physical-linked NFTs. This innovative approach by Louis Vuitton promises to create a unique and coveted offering for individuals who appreciate both art and fashion, leaving an indelible mark on the integration of blockchain technology within luxury fashion and beyond.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
