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(Kitco News) - French luxury fashion brand Louis Vuitton has become the latest company to enter the world of Web3 and non-fungible tokens (NFT) with the release of its “VIA Treasure Trunk” limited edition NFT collection, with each piece priced at €39,000 ($41,693)
“Louis Vuitton is embarking on a new voyage of creation with Web.3, where the physical and digital are seamlessly woven into one material for the Maison to create and dream with, and to craft the exceptional with which the Maison can create, dream and craft the exceptional,” a press release posted on Tuesday said. “Today, Louis Vuitton has created the VIA Treasure Trunk, its first digital trunk, designed for those who seek to travel through new dreams and new realities, and collect unique creations along the way.”
The company referred to the new collection as “A trunk inspired by the vision of the Maison and designed to energize future creative drops and endeavors.”
The release of the Treasure Trunk NFTs will be followed by a key drop in a few weeks that will “unlock the first digital collectible, stitching exceptional product and digital culture together,” Louis Vuitton said. The fashion brand will also be offering token holders the opportunity to register on a dedicated page of the Louis Vuitton website.
“The VIA Treasure Trunks will be available in a very limited and exclusive edition of a few hundred pieces,” the release said. “The Trunks, priced at 39 000€, will act as portals into the world of Louis Vuitton, revealing new, limited products and experiences through immersive drops which will be progressively launched at regular intervals throughout the year.”
The VIA Treasure Trunks will come in the form of soul-bound tokens, which, among other attributes, are not able to be transferred to other wallets. Louis Vuitton elected to release the NFTs in this form to encourage “enduring ownership.”
“The world of VIA will Open Wonder through an ongoing series of digital keys which owners of a Treasure Trunk will be able to purchase to unlock the new and unseen collectibles of the Maison,” the company said. “Each collectible is revealed through the Treasure Trunk in a digital form that is twinned with exclusive access to a physical counterpart, taking owners on a journey unlike any other before.”
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The waitlist for VIA Treasure Trunks will open on June 8, allowing residents in the United States, Canada, France, the UK, Germany, Japan and Australia to sign up for a chance to purchase the limited edition NFTs.
Once an interested buyer has connected their crypto wallet and provided personal details, those who qualify will be able to start exploring VIA on a private webpage beginning June 14. The purchase of VIA Treasure Trunks will begin on June 16, and the NFTs can be paid for using either fiat or cryptocurrencies.
All sales of Treasure Trunks are final except in EU countries where, by law, you are permitted to change your mind within 14 days of purchase.
In 2021, Louis Vuitton released an NFT-themed game, dubbed Louis The Game, in celebration of its 200-year anniversary. The game took players on an action-packed adventure through six imaginary worlds that exist outside of time and was designed to educate players about the brand’s history via interactive gameplay.
