Louis Vuitton to Launch $41,712 NFTs for Elite Clients, “Treasure Trunks”
Louis Vuitton’s exclusive NFT series, called “Treasure Trunks,” draws inspiration from their iconic luggage trunks. With just a limited quantity of a few hundred NFTs available, each “Treasure Trunk” NFT will be accompanied by a custom-made physical Louis Vuitton trunk, known for their high price tags reaching tens of thousands of dollars. Vogue Business reports the details.
The Louis Vuitton Treasure Trunk NFTs will be soulbound, restricting their transfer or trading between individuals. The unique feature of these NFTs is that only the original owner will have the privilege to utilize them, unlocking a range of exclusive customizable products, early access to new releases, and personalized experiences.
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Starting from June 8, individuals who meet residency requirements (limited to the U.S., Canada, the U.K., France, Germany, Japan, and Australia) will have the opportunity to join a waitlist for the Louis Vuitton Treasure Trunks. After registration, a selection process will take place, and chosen participants will receive invitations from Louis Vuitton in the following week. These invited participants will be able to purchase a Treasure Trunk using either cryptocurrency or traditional fiat currency through a dedicated website.
The “Treasure Trunk” collection is said to be the inaugural project of an ongoing Louis Vuitton series named “Via.” This series aims to provide privileged and exclusive access to the Louis Vuitton brand for a select group of high-paying customers. The focus of “Via” is to offer unique and rare experiences, further enhancing the exclusivity associated with the Louis Vuitton brand.
Louis Vuitton joins a growing list of luxury brands that view blockchain technology not as an equalizing force to include and connect a broader audience, but rather as an exclusive membership club catering to a privileged few. In this regard, blockchain technology is leveraged to further enhance the exclusivity and prestige associated with the brand.
Although many luxury brands, including Louis Vuitton, have previously explored NFT games, pop-ups, and programs with the aim of reaching broader audiences, there has been a shift in the past year. These brands are now moving away from such approaches and focusing on creating costly, exclusive collections of NFTs that cater specifically to high-value customers. The emphasis has shifted towards rewarding and engaging with customers who have a significant impact on the brand.
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Since the summer of last year, Balmain has been working on a distinctive NFT-supported club tailored for its top-tier customers. In April, Ralph Lauren initiated exclusive events specifically for Web3-engaged customers, held at a themed private waterfront estate in Miami.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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