LOUIS VUITTON LAUNCHES NFT COLLECTION
Everyone was talking about one thing this week: Louis Vuitton’s new Treasure Trunks NFT collection.
What do we know about the collection so far?
Each of these NFTs will be priced at €39,000, or around $42,000
The supply will be ‘several hundred’
The Treasure Trunks will be soul-bound tokens, meaning they will be tied to the wallet that acquires the NFT
Each of these Treasure Trunks will come with a made-to-order physical twin
Phew, this isn’t just an expensive digital collectible.
What gets interesting is holders of the Treasure Trunks will periodically have the opportunity to purchase Keys. Each of these Keys provides access to never-before-seen Louis Vuitton designs as well as the physical counterparts for them.
The first release of the collection will come out later this month in collaboration with Pharrell, LV’s menswear creative director.
Why does this matter?
Fashion has been one of the more practical applications for NFTs, and many fashion brands are exploring how the digital can augment the physical. Louis Vuitton’s parent company, LVMH, has been exploring crypto and NFTs with its family of brands:
Louis Vuitton launched a mobile game that rewarded players with NFTs
Rimowa partnered with RTFKT for a custom luggage collection
Tag Heuer accepts crypto
Tiffany & Co. launched a limited collection of CryptoPunks pendants
The price tag might be high, but luxury brands understand how to combine exclusivity to make it worth the cost. Meanwhile, I’ll be looking for spare change under Milk Man’s couch cushions.