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Louis Vuitton Will Issue $42,000 Physically Backed NFTs

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Louis Vuitton

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According to Vogue Business, the Via Treasure Trunks are being sold as soulbound tokens, indicating that once purchased, they are non-transferable.

Louis Vuitton is preparing to release a new physical-linked non-fungible token (NFT) collection called Via Treasure Trunks, which will pave the way for members-only products and experiences.

On June 8, consumers from the United States, Canada, France, the United Kingdom, Germany, Japan, and Australia will be able to register for “a few hundred” new digital trunks. On June 16, select clients will be able to acquire the NFTs for €39,000, or approximately $42,000. As part of the utility roadmap for the token, token holders will receive a physical replica of their digital Treasure Trunk, which will also grant access to forthcoming Louis Vuitton products and immersive events. The brand plans to release limited products and experiences “at regular intervals” throughout the year, according to a press release.

The collection is a component of Louis Vuitton’s more significant project titled “Via,” which is derived from the Latin word for the road. Treasure Trunk owners can purchase digital keys that grant access to future Louis Vuitton NFT collections that are physically linked. According to Vogue Business, the collectibles are being sold as soulbound tokens, indicating that once purchased, they are non-transferable. NFT holders will not be able to sell their Treasure Trunks, but they will be able to sell future objects they mint individually.

For several years, Louis Vuitton has expanded into blockchain projects. In March of 2019, its owner LVMH announced plans to launch the Aura blockchain for tracking the provenance of luxury products. In April 2021, it formed the Aura Blockchain Consortium with fellow luxury retailers Cartier and Prada to combat counterfeit goods.

In honor of its 200th birthday, the design house published “Louis The Game,” a free-to-play gamified experience that offered players the chance to win 30 NFTs.