When the prestigious Louis Vuitton launched its first NFT game in 2021, the world was taken aback: little did they know this was just the beginning. Recently, Louis Vuitton also made headlines with its ultra-limited NFT Treasure Trunk drop, which grants access to its exclusive community – and it might be worth the $39,000 price.
After all, this is the second most popular luxury brand of the year and one of the most influential fashion companies of all time. It loves innovation while also staying true to its roots and core concept dating back to 1854.
In fact, this name had already entered the NFT space in August 2021 as one of the first physical luxury fashion NFTs to debut the market. By June 6th, 2023, Louis Vuitton had sold over $41,700 worth of NFTs.
Its latest collection, the VIA Treasure Trunk NFTs, brings the concept of exclusivity to a new level while featuring the same design as its original 1858 trunks.
But how does the luxury fashion giant stay relevant in the ever-changing world of NFTs?
Let’s go back to the roots to find out.
Louis Vuitton, a Fashion Icon
In 2023, the words ‘Louis Vuitton’ are almost synonymous with ‘luxury fashion.’ Founded in 1854, the French brand’s empire now has a $500 billion market value.
From shoes to perfumes, jewelry, and accessories, the company expanded its success beyond clothing. Their most expensive item, the Steiff Louis Vuitton Teddy Bear, costs more than $2.1 million – a record price for a fashion brand.
One of the main reasons Louis Vuitton stayed relevant for over 150 years is its desire to innovate. Today, the growing Web3 fashion niche offers the perfect occasion to evolve in the digital future – here’s how:
Fashion in the NFT World
Nowadays, the fashion NFT market is a force to be reckoned with in the Web3 world. This industry has amassed over $250 million in sales by 2023, and for a good reason: people’s digital appearance is now more important than ever.
Festivals, company meetings, and vacations all happen in the metaverse right now. People care about their virtual looks just as much as they do in real life. Of course, this is the perfect setting for high-profile brands such as Louis Vuitton to join the Web3 space and set the standard for fashion luxury via NFTs.
The History of Louis Vuitton and NFTs
At the time of writing, Louis Vuitton is making headlines with its VIA treasure trunk NFT drop. However, the luxury fashion giant has been present on the NFT market for over two years. From PFP collections to commissioned digital assets and games, this brand takes a different approach with every new release.
With that said, let’s travel back to August 2021 when Louis Vuitton launched its first blockchain game experience: ‘Louis, The Game.’
Louis Vuitton NFT Game
In August 2021, the NFT market was exploding with new projects. As a pioneer of the luxury fashion NFT niche, Louis Vuitton partnered with web3 artist Beeple for an NFT game.
In essence, ‘Louis: The Game’ stars the brand’s mascot, Vivienne, on a virtual journey through France. Since the game celebrated what would’ve been Louis Vuitton’s 200th birthday, the journey also resembles the one Vuitton himself took when he was 14.
While exploring the whimsical surroundings, players could collect 30 NFTs (ten of which were designed by Beeple). In addition, the blockchain game also surprised players with digital candles that revealed 300 trivia postcards about Louis Vuitton.
The immersive experience also came with a themed PFP collection, also starring the mascot Vivienne. Although Louis Vuitton has long ended the mint, Vivienne NFTs are available on Opensea with a top price of 200 ETH.
Available via Android and Apple app stores, ‘Louis: The Game’ sparked interest among players. After all, Louis Vuitton was no stranger to the video gaming industry. The brand previously partnered with League of Legends for a themed collection.
Fast-forward to 2023, the luxury fashion brand makes headlines with a new exclusive drop: the VIA Trunk NFT collection.
The Louis Vuitton VIA Treasure Trunks NFT Collection
On June 6th, Louis Vuitton revealed its most exclusive (and expensive!) NFT collection yet: the Treasure Trunks. Much like their name suggests, the digital assets offer access to limited Louis Vuitton items and experiences.
But wait! There’s a catch: each Treasure Trunk NFT will come locked. In order to truly unlock the experiences it offers, you also have to mint a digital key that Louis Vuitton will launch in the future. When you open your virtual Treasure Trunk, you will also receive its corresponding physical version.
In terms of design, the NFT collection shares the same details as the very first trunks designed by Louis Vuitton in 1858. In fact, the brand celebrated the unique launch at its family Maison in Paris!
Surprisingly, the attendee list also featured some of the top names in the NFT industry. For instance, the Deadfellaz co-founder BETTY joined the event and described it as a ‘deep-dive on the next era of the brand.’ The NFT community shared her excitement and curiosity as to how luxury fashion brands will continue their web3 journeys.
Louis Vuitton NFT Mint
Accordingly, the brand will only launch a few hundred collectibles. The price of a Louis Vuitton Treasure Trunk NFT is €39,000 with taxes or $39,000 without taxes for US residents.
Collectors can mint their Treasure Trunk on the official Louis Vuitton platform. Note that the brand only accepts fiat, so crypto payments are not available. In fact, even this detail speaks for the brand’s desire to keep its value and prestige intact in the volatile crypto world.
According to Louis Vuitton, the Treasure Trunk NFT collection will not be tradeable on secondary platforms like OpenSea. So, the few hundred of people who buy a VIA Treasure Trunk NFT will have access to the portal forever. However, members will be able to sell any digital asset launched for the VIA community.
The Web3 Future of Louis Vuitton
From web3 games to exclusive NFTs, Louis Vuitton is one of the few brands to shape the term ‘luxury’ in the Web3 space. Despite its innovation, the company showcases the founder’s legacy with every new launch.
These concepts prove how much Louis Vuitton aims to preserve the image it has created IRL for over 150 years. Unlike many competitors who changed their approach based on the NFT communities, Louis Vuitton has its own roadmap.
Considering that their NFTs are tradeable on OpenSea, too, Louis Vuitton NFTs might be an ideal long-term digital investment.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
