Louis Vuitton, the esteemed French luxury fashion house, is preparing to unveil its novel physical-linked non-fungible token (NFT) collection – Via Treasure Trunks. This innovative initiative offers an exclusive membership with privileged access to future products and experiences. As reported by Vogue Business, the digital trunks, limited to a few hundred pieces, will be available for registration on June 8 to customers in U.S., Canada, France, U.K., Germany, Japan, and Australia.
The Purchasing Process and Perks
Those who register successfully will have the opportunity to purchase these NFTs on June 16 for €39,000 (around $42,000). The perks that come with these tokens include receiving a physical replica of their digital Treasure Trunk. This not only is a collectible item but also serves as a key to unlock access to upcoming Louis Vuitton products and immersive events. According to a press release, Louis Vuitton will be releasing such exclusive benefits at regular intervals throughout the year.
Soulbound Tokens and Future Access
The intriguing factor about this collection is that these tokens are soulbound, signifying that they cannot be transferred after purchase. While NFT holders cannot sell their Treasure Trunks, they can sell individual items they mint in the future. Treasure Trunk owners will also have the opportunity to buy digital keys for access to future physical-linked NFT collections from Louis Vuitton.
Louis Vuitton’s Blockchain Journey
Over the years, Louis Vuitton has steadily been incorporating blockchain technology into its operations. In 2019, LVMH, the owner of Louis Vuitton, announced the introduction of Aura blockchain for tracking luxury goods’ provenance. Furthermore, in April 2021, it joined hands with Cartier and Prada to launch the Aura Blockchain Consortium, aiming to combat counterfeit products. Additionally, Louis Vuitton introduced “Louis The Game” in August 2021, a free-to-play game that provided players with the opportunity to win 30 NFTs to celebrate the brand’s 200th anniversary.
Unveiling of ‘Phygital’ Treasure Trunk NFTs
On June 6, Louis Vuitton made a remarkable announcement of releasing the ‘phygital’ Treasure Trunk NFTs, giving owners access to unique future products, experiences, and a community of like-minded individuals. These tokens are exclusive collectibles, representing a unique blend of physical and digital luxury that is inaccessible to the average consumer due to the hefty price tag. However, Louis Vuitton expects that this initiative will offer a unique pathway to products and experiences that would otherwise be inaccessible, mirroring the direction other luxury brands are taking in Web3.
Registration and Purchase Procedure
The registration process begins on June 8, and those interested in owning Treasure Trunks must register via a waiting list on a yet-to-be-announced website. Once personal details and crypto wallets are linked, selected registrants will receive an invite on June 14 to explore Via through a private webpage. Then, on June 16, they will have the opportunity to purchase their physical-backed NFT, using either cryptocurrency or fiat currency, on a dedicated platform.
Louis Vuitton’s embrace of NFTs, blending the digital and physical worlds, demonstrates a progressive outlook on the evolving landscape of Web3. As a leading brand in the fashion industry, Louis Vuitton’s approach provides a fascinating perspective in balancing