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Louis Vuitton NFTs are back with a €7,900 phygital varsity jacket

TokenTalk Staff

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Louis Vuitton NFTs are back with a €7,900 phygital varsity jacket

This helped avoid open market scrutiny as well as resolve any technical difficulties which can occur with open drops. It is also a departure from traditionally transparent and indifferent nature of NFT drops, but consistent with the luxury mindset. At a time when NFTs are falling slowed down to a slow dripit also offers some brand protection, as the Via project was introduced at a time when cryptocurrency valuations and consumer interest were waning.

Pharrell Williams, who was named creative director of men’s Louis Vuitton in 2023, was an early advocate of NFT communities.

Photo: Filippo Fior / Gorunway.com

As part of the launch, influential personalities in the Web3 fashion space were gifted via NFTs, including Rug Radio founder Farokh Sarmad, NFT collection Deadfellaz Betty founder and CEO, and Web3 fashion investor Megan Kaspar. Other owners include DJ Steve Aoki and Ledger CXO Ian Rogers.

The brand also launched a Discord server in September. The discord has become a central social media platform for Web3 projects, enabling tokenized chats, polls, and two-way dialogues with community members. Similarly to luxury NFT drops, conversations on Discord have become much quieter in recent months – although Louis Vuitton is still posting news for its wider community (it also has a tokenized area for holders). She recently shared information about her LV Nanogram connected speaker, her presence at the NFT Paris conference, Louis Vuitton fun facts, and podcast episode promotion.

Interest remains in trendy NFTs. Syky Collective Designers sold a number of high-value fashion NFTs in recent months, including a Taskin Goec phygital baseball cap for 1 ETH (around $3,000 at the time) during London Fashion Week; and six pieces in total from designers Stephy Fung and Nextberries, each ranging from 0.1 ETH to 0.7 ETH (about $300 to $2,300 at the time) during the NFT Paris conference. Artist Claire Silver’s digital fashion collection, created using generative AI, sold out in January for a total of approximately US$1.17 million.

Still, it remains to be seen what’s next for luxury NFT strategies. Although cryptocurrency valuations have risen, the influence of the Web3 ‘degens’ community has not increased. By going after ultra-high-net-worth customers and banking on exclusivity, Louis Vuitton is tapping into an existing audience that may be intrigued by the added advantage of access through new technology, rather than hoping to capitalize on the more fashion-curious audience. encrypted crowd.

Correction: Updated to reflect which owners received the Via NFT. April 22, 2024

Comments, questions or feedback? Send us an email at feedback@voguebusiness.com.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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