Famous French luxury brand Louis Vuitton has announced a collaboration with Japanese artist Yayoi Kusama to launch a collection of non-fungible tokens (NFTs). Although the outlines are still unclear, this shows the company’s strong desire to diversify into new sectors, including Web3.
Louis Vuitton launches into NFTs
The non-fungible token (NFT) sector has regained interest with the recent bull run in the cryptocurrency market. The famous luxury brand Louis Vuitton has decided to capitalize on this trend and announces the launch of a collection of NFTs.
On the occasion of its 200th anniversary, the iconic brand has teamed up with Yayoi Kusama to create a new series of clothing. The 93-year-old Japanese artist is well known in the art world and fashion for its distinctive style, which often combines repeating patterns and bright colors.
#YayoiKusama inTokyo. Following her collaboration with the Maison, the Japanese artist visited #Louis Vuitton‘s Omotesando and Harajuku pop-up stores. Learn more about #LVxYayoiKusama at https://t.co/3XNZoaFWOF. pic.twitter.com/UYR8RIoZyV
— Louis Vuitton (@LouisVuitton) February 3, 2023
As part of this collaboration, and according to information from our colleagues The Crypto Times, Louis Vuitton and Yayoi Kusama will create a series of NFTs based on original Kusama artwork. Nothing has yet been revealed, but it seems that the collection contains 10,000 NFTs, sold at a price of 4 Ether (ETH) each (or approximately $6,621).
The price is obviously high in a market context where the majority of investors are showing losses – despite the recent rally – but could be justified. Indeed, the luxury brand should allow holders of NFTs to convert their digital work into a physical product.
This initiative shows the growing enthusiasm for NFTs in the world of fashion and art. More and more brands and artists are turning to NFTs to help monetize their work in innovative ways, while reconnecting with their customers and fans.
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Louis Vuitton and the Web3
This collection of NFTs does not mark Louis Vuitton’s debut in Web3. In 2021, the Parisian luxury house had launched the game “Louis: The Game” – on iOS and Android platforms – which featured the Vivienne mascot.
Through various adventures, players could collect one of 30 collector coins as NFTs. An initiative that appeared very early in the history of the metaverse and NFTs and which was renewed in April 2022.
Louis Vuitton had indeed added 2 levels to its game. These universes housed 16 pages of the autobiographical novel of the creator of the luxury brand and allowed those who picked them up to be eligible for the draw of one of the 10 NFTs of the collection released in parallel.
As part of the project announced this week, in partnership with Yayoi Kusama, Louis Vuitton has launched a new mobile application downloadable on iOS and Android. Through 4 levels, the player must collect unique items to fill his trunk and hope to get a special rewardwhich could be an entry ticket to the collection of NFTs.
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Source: The Crypto Times, Louis Vuitton press release
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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