Louis Vuitton wants to sell $41,000 of NFTs to customers

Great Louis Vuitton enters the world of Web3 and NFTs as so-called “treasure trunks”. This is the first in a series of projects that Louis Vuitton is trying to persuade its customers to enter into its elite digital products.

A limited series of NFTs will each fetch $41,712 (or 39,000 euros).

What do you get?

Customers of the popular fashion brand will get access to exclusive products and experiences on acquiring NFT, the company announced on Tuesday. The first collection contains “several hundred” NFTs, according to one Reported in Vogue Business.

Each “treasure trunk” comes with a matching body bag from Louis Vuitton, which typically sells for several tens of thousands of euros.

That way, you get not just a digital version of a bag, but a physical item as well. Otherwise customer acquisition will not be interesting.

The fun fact is that NFTs are “spirit controlled,” meaning you can’t trade or send them. Only the owner of the Louis Vuitton Treasure Trunk can access certain things using NFT, for example, the first to purchase new products.

The Netherlands was excluded

Dutch interested parties seem to be more excluded at present. Only residents of the United States, Canada, United Kingdom, France, Germany, Japan, and Australia will be eligible to register on the waiting list.

Then, based on that list, a selection of people who received an invitation to buy NFTs from Louis Vuitton in crypto or fiat money is made.

Ultimately, Louis Vuitton’s plan is to create several collections in a series called “Via,” which will give customers exclusive access to some of the luxury brand’s exclusive items.

Louis Vuitton isn’t the first big brand to come up with this idea. Parties such as Balmain and Ralph Lauren also participate in similar matters in the Web3 world. Still, it’s great to see mainstream brands still interested in crypto.