<\/p>\n
Two years after its first NFT foray, Luxury fashion house Louis Vuitton is again turning heads in the world of Web3. On June 6, the brand announced a collection of \u2018phygital\u2019 Treasure Trunk NFTs that will give owners access to exclusive future products, experiences, and a community of fellow holders. <\/p>\n
Priced at \u20ac39,000 (over $41,000) a piece, the production of these unique tokens \u2014\u00a0and their physical twin counterparts \u2014will be limited to several hundred pieces. According to Vogue Business<\/em><\/a>, this venture is part of the brand\u2019s new \u201cVia\u201d initiative \u2014 derived from the Latin word for \u201croad.\u201d<\/p>\n While this price tag will likely be far out of reach for the average consumer, the company hopes that the collection offers a pathway toward products and experiences that may not be available otherwise \u2014 a move we\u2019ve seen from other luxury brands<\/a> in Web3.<\/p>\n Louis Vuitton trunks are iconic due to their historical significance and craftsmanship<\/a>, embodying luxury and status that set them apart in the market. Each collectible will be a Soulbound NFT<\/a>, meaning it will not be able to be sold or given to another person. <\/p>\n According to the press release, the brand will release additional utility to holders \u201cat regular intervals\u201d throughout the year. Further, Treasure Trunk owners will have the opportunity to purchase digital keys that grant them access to future phygital Louis Vuitton NFT collections. <\/p>\n #LouisVuittonVIA<\/a> Treasure Trunks \u2013 digital + physical trunk, \u00a339k each \u2014 Megan Kaspar (@Megan_Kaspar) June 6, 2023<\/a><\/p><\/blockquote>\n On June 8, those interested in Treasure Trunks (based in the U.S., Canada, France, U.K., Germany, Japan, and Australia) are invited to register via a waiting list on a to-be-announced website. After providing personal details and linking their crypto wallets, selected registrants will be invited on June 14 to explore the world of Via through a private webpage. <\/p>\n Subsequently, on June 16, they will have the opportunity to purchase their physical-backed NFT, using either cryptocurrency or fiat currency, on a dedicated platform. <\/p>\n The announcement marks a new era after the brand\u2019s previous NFT foray, Louis the Game<\/a><\/em>, a free mobile gaming experience launched in August 2021, designed to enlighten players on the company\u2019s illustrious history. The game also rewarded successful players with a chance to acquire one of 30 unique digital postcards. <\/p>\n This latest bold step by Louis Vuitton underlines the brand\u2019s conviction in the NFT market, representing a distinctive blend of the physical and digital worlds. As the fashion industry navigates the landscape of Web3, Louis Vuitton\u2019s approach serves as an intriguing case study in striking a balance between tradition and innovation.<\/p>\n<\/p><\/div>\nPhygital luxury<\/h2>\n
\n
TL;DR:<\/p>\n
\u2013 soulbound collectible
\u2013 periodical bespoke purchasable keys available to VIA holders
\u2013 keys are not soulbound & unlock physical products
\u2013 IRL events only accessible to VIA holders pic.twitter.com\/cEXuNF7jK9<\/a><\/p>\n