Luxury house Louis Vuitton has made an exciting entrance into the world of non-fungible tokens (NFTs) with the launch of its first collector’s item. The brand introduced the Trésor VIA trunk as the starting point for its commercial NFT project. This unique trunk, available both digitally and physically, was offered to a select group of customers through a lottery system. With an entry price of €39,000, only a few hundred copies of the trunk were produced.
But the Trésor VIA trunk is more than just a valuable object; it also grants exclusive access to future products and experiences from Louis Vuitton. Similar to “drops,” where limited edition products are released in a timed manner, the Trésor VIA trunk serves as a prerequisite for accessing upcoming releases.
As part of this NFT project, Louis Vuitton has unveiled its first collector’s item called the Speedy 40 VIA. This special edition of the popular Speedy bag was created by Pharrell Williams, the Artistic Director of Louis Vuitton’s menswear collections. The Speedy 40 VIA takes the form of a digital collectible, accompanied by the right to claim its physical counterpart. Customers have the option to claim the physical bag during specific periods, with the first retrieval phase scheduled for January.
One interesting aspect of this project is that the collector’s items can be resold on specialized marketplaces. Owners of the Speedy 40 VIA can choose to sell the NFT and the associated retrieval right instead of claiming the physical bag. This opens up opportunities for speculative strategies, although Louis Vuitton has stated that it cannot be held responsible for the prices set on these platforms. However, the brand will receive a 10% royalty on the resale price.
To participate in this NFT project, customers can use crypto payment via Bitpay. At the moment, the project is only available in France, the United States, Canada, the United Kingdom, Germany, Japan, and Australia.
With its foray into the world of NFTs, Louis Vuitton is tapping into a growing market that combines luxury and digital assets. This move highlights the brand’s willingness to embrace technology and explore new ways to engage with its customers.
Useful links:
– Louis Vuitton
– Bitpay
