As the fashion industry continues to embrace the “phygital” evolution, French luxury house Louis Vuitton announced the launch of the VIA Treasure Trunk, the virtual representation of its iconic travel trunk.
The digital world can match how exclusive ownership feels in the real world with blockchain technology. By providing an immutable, transparent 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 objects started giving birth to their equally unique digital twins on the blockchain, leading to the rise of the phygital trend in the Web3 era. Given the nature of digital ownership, objects that put aesthetic value over utility are pioneering the trend — from designer shops in the Metaverse to digital art collections.
As the physical world gets more interwoven with the digital universe, major companies continue to expand their craftsmanship and innovation in a bid to discover new horizons. The latest milestone of the phygital evolution comes from the luxury brand Louis Vuitton, a company that is no stranger to blockchain.
The French luxury house is known for its adoption of technology and innovation. To provide better transparency and traceability for the entire luxury industry, Louis Vuitton previously took part in the Aura blockchain project, using the technology for its LV Diamonds collection. To celebrate the 200th anniversary of its founder, Louis, the company released a video game titled ‘Louis The Game’ for players to hunt 30 NFTs hidden within its metaverse.
To speed up its voyage into the Web3 space, the French luxury house is now reimagining its most iconic piece of luggage, the Louis Vuitton trunk, as a digital collectible.
Louis Vuitton’s iconic trunk is on a digital voyage in the Web3 universe. Source: Louis Vuitton
First launched in the middle of the 19th century, Louis Vuitton’s renowned trunk has adopted fresh forms and materials for over 160 years. 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 seek to travel through new dreams and new realities.” VIA, also the name of the community of Treasure Trunk owners, will act as a gateway where enthusiasts can acquire bespoke keys to unlock 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 exclusive access to its physical counterparts.
How to get Louis Vuitton’s VIA Treasure Trunk
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 selected from the waitlist on June 14. Chosen invitees will then get a chance to purchase their VIA Treasure Trunk on June 16.
As part of its journey into the Web3 space, Louis Vuitton (LVMH) announced that cryptocurrencies can be used as a payment method to purchase digital collectibles. The soulbound nature of VIA Treasure Trunks prohibits users from transferring or selling them after the initial purchase, ensuring that only the selected people will have access to the VIA portal. However, users will be able to sell future digital collectibles they acquired through VIA on various NFT marketplaces.
Thanks to innovations and technological opportunities presented by Web3, the digital universe has become an expansion of the physical world rather than a separate reality. 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.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.