French luxury brand Louis Vuitton has launched the VIA Treasure Trunk, a virtual representation of its iconic travel trunk, as the fashion industry continues to embrace the “phygital” evolution.
The use of blockchain technology means that the digital world can match how exclusive ownership feels in the real world. By providing an immutable, transparent and public infrastructure to prove ownership, blockchain made owning a piece of unique digital asset such as a non-fungible token (NFT) as satisfying as possessing its physical version. Objects that put aesthetic value over utility, such as from designer shops to digital art collections, are pioneering the trend due to the nature of digital ownership.
The luxury brand Louis Vuitton has previously taken part in the Aura blockchain project, using the technology for its LV Diamonds collection, and released a video game titled ‘Louis The Game’ for players to hunt 30 NFTs hidden within its Metaverse, aiming to provide better transparency and traceability for the entire luxury industry.
Louis Vuitton’s iconic trunk is on a digital voyage in the Web3 universe. Source: Louis Vuitton
Now, the French luxury house is reimagining its most iconic piece of luggage, the Louis Vuitton trunk, as a digital collectible with Louis Vuitton’s VIA Treasure Trunk. The VIA Treasure Trunk is designed as a soulbound token (SBT) that owners can unlock never-before-seen creations of the Maison, granting them access to VIA, Louis Vuitton’s portal to the digital collectibles world. The trunk is priced at €39,000 and only a few hundred of them will be available for purchase. Registration for the waiting list opened on June 8, and a private preview page of VIA will be provided to selected people from the waitlist on June 14. Chosen invitees will then get a chance to purchase their VIA Treasure Trunk on June 16.
Cryptocurrencies can be used as a payment method to purchase digital collectibles. VIA Treasure Trunks are soulbound, prohibiting the transfer or sale of them after initial purchase, ensuring that only the selected people receive access to the VIA portal. However, users will be able to sell future digital collectibles they acquired through VIA on various NFT marketplaces.
Louis Vuitton’s step into the world of digital collectibles shows that Web3 has grown into a global trend that presents exciting interactions even for the high-end sector.
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