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Each Treasure Trunk from Louis Vuitton is a soulbound token that opens owners to exclusive experiences and designs.
French luxury fashion house Louis Vuitton has launched its iconic travel trunk as a digital collectible in a collection called the VIA Treasure Trunk. The launch is part of Louis Vuitton’s affinity for digital adoption and Web3.
The Treasure Trunks are part of Louis Vuitton’s broader “Via” project. Translated from Latin as “road”, Via is the fashion house’s project that offers several products and experiences to a select few.
Each Treasure Trunk will cost a pricey €39,000. Although there is no specific number yet, Louis Vuitton has said it will mint “only a few hundred”. Interested persons would have to join a waiting list by completing a registration process using a crypto wallet. Registration will begin on June 8.
After the registrations, the company will select qualified persons and send them invitations to view a private VIA page on June 14. However, these persons will not be able to buy a Treasure Trunk until June 16.
Each Louis Vuitton Treasure Trunk is a soulbound token (SBT). An SBT is a non-fungible token (NFT) that is unique and non-transferable. SBTs help to track the token’s reputation, and instead of being sellable, they are permanently bound to specific accounts or wallets. This supports Louis Vuitton’s plan for each Treasure Trunk owner to enjoy exclusive access to a special experience that includes designs never seen before.
Louis Vuitton’s travel trunk was initially launched in 1858.
Treasure Trunks Continue Louis Vuitton’s Blockchain Involvement
The launch of Treasure Trunk SBTs is not Louis Vuitton’s first dalliance with blockchain technology. In 2021, Louis Vuitton’s parent company LVMH launched the Aura Blockchain Consortium with a few other luxury brands. The Aura Blockchain is a blockchain solution available to any luxury brand interested in extra product traceability and transparency.
Founding members include Mercedes-Benz, Prada Group, Richemont, OTB Group, and LVMH. Other members include Maison Margiela, Cartier, Bvlgari, Hennessy, Givenchy, and Hublot, among others. The consortium says it is open to any luxury brand.
The Aura Blockchain is secured using technology from ConsenSys and Microsoft Corp (NASDAQ: MSFT). The infrastructure helps customers of these luxury brands easily authenticate their products. For example, Swiss luxury watchmaker Hublot has an e-warranty feature on the Aura Blockchain that allows customers to confirm product genuineness.
LVMH may also have its eyes set on Web3 goals, including gaming and the metaverse. During an earnings call last year, LVMH chief financial officer Jacques Guiony mentioned that the company is considering blockchain gaming and metaverse endeavors.
Regardless, Guiony said LVMH is doing its consideration “carefully”. He said at the time that the metaverse was promising although still nascent. Nonetheless, the CFO assured that LVMH will be a part of the metaverse boom. However, he said he was unsure of specific plans, while CEO Bernard Arnault warned that LVMH must be “wary of bubbles”.