French luxury fashion brand Louis Vuitton has entered the world of NFTs with its limited edition “Treasure Trunk” collection.
Each NFT in the collection comes with a hefty price tag of €39,000 ($41,693), granting select customers access to exclusive products and experiences.
Louis Vuitton aims to provide a unique gateway to unparalleled offerings through its NFT launch called “Via.”
Louis Vuitton’s Via project allows customers from various countries to join a waitlist on a dedicated website, starting June 8.
After connecting their crypto wallets and providing personal details, selected registrants will gain access to the Via private webpage from June 14.
By June 16, they can purchase their Via Treasure Trunk using either crypto or fiat currency. As a special touch, participants will receive a physical replica of their trunk.
Unlike other exclusive communities, Louis Vuitton has implemented strict rules prohibiting the sale or transfer of Via trunks. These NFTs are considered “soul-bound collectibles” using non-transferrable NFTs, also known as soulbound tokens.
This approach aims to foster loyalty and deter quick reselling. While a change of mind is allowed within 14 days of ordering in EU countries, the trunks are generally non-returnable.
Louis Vuitton’s latest NFT venture marks a significant departure from its previous project, Louis The Game, which focused on interactive gameplay to educate players about the brand’s history.
LVMH CEO Bernard Arnault expressed interest in leveraging technologies like NFTs for high-value items, recognizing their potential impact when executed thoughtfully. The brand’s priority remains maintaining exclusivity and value in its NFT offerings.