French luxury fashion house Louis Vuitton is gearing up to release a new physical-linked non-fungible token (NFT) collection called Via Treasure Trunks, paving the way for exclusive members-only products and experiences.
The new collection of “a few hundred” digital trunks will open for registration on June 8 to consumers based in the U.S., Canada, France, the U.K., Germany, Japan and Australia. Select customers can then purchase the NFTs on June 16 for €39,000, or about $42,000. As part of the token’s utility roadmap, holders will receive a physical replica of their digital Treasure Trunk, which will also unlock access to upcoming Louis Vuitton products and immersive events. According to a press release, the brand plans to release limited products and experiences “at regular intervals” throughout the year.
The collection is a part of Louis Vuitton’s larger project called “Via,” which comes from the Latin word for road. Treasure Trunk owners will be able to purchase digital keys that grant them access to future Louis Vuitton physical-linked NFT collections. According to a Vogue Business, the collectibles are being sold as soulbound tokens, meaning they are non-transferable once purchased. NFT holders will not be able to sell their Treasure Trunks, however, they can sell individual items they mint in the future.
Louis Vuitton has been expanding into blockchain projects for several years. In March 2019, its owner LVMH announced plans to roll out its Aura blockchain for provenance tracking of luxury goods. In April 2021, it teamed up with fellow luxury retailers Cartier and Prada to create the Aura Blockchain Consortium to crack down on counterfeit products.
In August 2021, the design house released “Louis The Game,” a free-to-play gamified experience that offered players the chance to win 30 NFTs in honor of its 200th birthday.