Blockchain-friendly French posh house Louis Vuitton ramps up Web3 efforts by presenting its iconic trunk as a digital collectible.
As the fashion industry continues to accept the “phygital” change, the French luxury house Louis Vuitton announced the launch of the VIA Treasure Trunk, a digital version of its famous travel trunk.
The digital world can match how exclusive ownership feels in the real world with blockchain technology. By providing an immutable, open and public infrastructure to prove ownership, blockchain made owning a piece of unique digital asset such as a nonfungible token (NFT) as satisfying as possessing its physical version.
Physical things started giving birth to their equally unique digital twins on the blockchain, leading to the rise of the phygital trend in the Web3 era. Because of how digital ownership works, the first things to follow this trend are things that are more about how they look than how they work. This includes designer shops in the Metaverse and digital art collections.
As the real world and the digital world become more connected, big companies keep improving their craftsmanship and creativity to find new horizons. The latest milestone of the phygital evolution arrives from the luxury brand Louis Vuitton, a company that is no stranger to blockchain.
The French luxury house is known for using new technologies and coming up with new ideas. Louis Vuitton took part in the Aura blockchain project and used the technology for its LV Diamonds collection to make the whole luxury industry more transparent and easy to track. To celebrate the 200th anniversary of its founder, Louis, the company released a video game named ‘Louis The Game’ for players to hunt 30 NFTs hidden within its metaverse.
Since it was first made in the middle of the 19th century, Louis Vuitton’s famous trunk has taken on new shapes and materials. Handcrafted by artisans on the outskirts of Paris, France, each Louis Vuitton Trunk is a trademark in luxury fashion.
A new voyage of creation with Web3
The 160-year-old collection’s latest design, named VIA Treasure Trunk, comes with a Web3 twist: it’s designed as a soulbound token (SBT) that lets owners unlock never-before-seen creations of the Maison, Louis Vuitton’s design house.
The Treasure Trunk grants access to VIA, Louis Vuitton’s portal to the world of digital collectibles. The luxury house said its first digital trunk is “designed for those who look to travel through new dreams and fresh realities.” VIA, which is also the name of the community of Treasure Trunk owners, will be a way for fans to get keys to Louis Vuitton designs that have never been seen before. Marking a new step toward the phygital experience, each collectible from new launches will provide buyers only access to its physical counterparts.
How to get the VIA Treasure Trunk by Louis Vuitton
Each Treasure Trunk has a €39,000 price tag, and “only a few hundred” of them will be available for purchase. Louis Vuitton aficionados need to register on the waiting list on June 8 with a crypto wallet. The luxury house will send an invitation for a private preview page of VIA to those who are chosen from the waitlist on June 14. Then, on June 16, those who were invited will be able to buy their VIA Treasure Trunk.
As part of its journey into the Web3 space, Louis Vuitton announced that cryptocurrencies can be used as a payment method to purchase digital collectibles. Because VIA Treasure Trunks are soulbound, users can’t give them away or sell them after they buy them. This means that only the people who were chosen will be able to use the VIA site. However, users will be able to sell future digital collectibles they acquired through VIA on different NFT marketplaces.
Content Source: cointelegraph.com