Luxury brand Louis Vuitton sells NFTs for €39,000

Luxury on the blockchain. With an NFT collection, Louis Vuitton awards exclusive memberships to customers. The limited NFTs are not transferable.

According to Vogue Business French luxury fashion house Louis Vuitton is launching an NFT series called "Treasure Trunks." The collection reportedly consists of "a few hundred" pieces at a price of about 39,000 euros.

These are so-called "souldbound" NFT's. This means that they are not transferable and thus cannot be traded between individuals.

Only the original owner of a "Treasure Trunk" can use them to gain access to exclusive products, early releases and experiences. These will be both physical and digital products.

Interested parties can sign up for a waiting list starting June 8. Selected participants will then be contacted by the company in the coming weeks.

The launch of the "Treasure Trunks" is part of a new project called "Via." In the future, the company plans to continue focusing on exclusivity using the blockchain. Again, the concept is to obtain "products and experiences" that are inaccessible to others by owning the NFTs.

The NFT series is not the luxury brand's first foray into the Web3 sector. Back in 2019, the company partnered with Microsoft and ConsenSys to launch a platform for tracking luxury items.