Louis Vuitton Enters the NFT Market
Louis Vuitton is jumping on the NFT bandwagon. Today the brand has announced the launch of its own NFT collection called the Trunk. The collection features four rare digital artworks created in collaboration with renowned digital artists. It also includes a digital soundtrack created by musician GRANT.
Previous Collaborations with Artists
This marks the first time the luxury fashion house has released a collection of digital art. Louis Vuitton hasn’t shied away from digital art in the past, having collaborated with artists such as Daniel Arsham and Takashi Murakami on various projects.
The Trunk Collection: Unique Digital Artworks and Limited-Edition Trunks
The Trunk collection is composed of four unique digital artworks created by Jayde Fish, Mad Dog Jones, Pak and Quarantine. The artworks can be purchased through a unique digital token
with each digital token backed by a physical object — a limited-edition Louis Vuitton trunk. The trunks, which are hand-crafted in the brand’s historic workshops in Asnières, France, will be released later this year for $10,000 each.
GRANT’s Digital Soundtrack in the Collection
The Trunk collection also includes a digital soundtrack created by musician GRANT. GRANT is best known for scoring the film Blade Runner 2049, as well as writing music for the video game Death Stranding. The soundtrack is limited edition and will be available for purchase at a price of $2,000.
Incorporating Physical Objects in the Artworks
With the launch of the Trunk collection, Louis Vuitton is making a sizable entry into the NFT market. The brand is embracing the notion that NFTs can exist as luxury goods, exclusively for luxury clients. For many, this luxury market approach to digital art and the crypto sphere is an interesting development.
Digital Art as a Response to Changing Fashion Trends
It’s no surprise Louis Vuitton is now focusing on the digital sphere. As fashion is evolving with more people wearing athleisure at home, many fashion houses are looking to digital art as a way to expand their presence and offer up something unusual. Now, by creating the Trunk collection, Louis Vuitton is providing a platform for those who appreciate digital art and have the funds to be able to own a piece of digital history.
The Implications of Louis Vuitton’s Entry into NFTs
What we love about the Trunk collection is how it incorporates physical objects as part of the artworks. By having the limited-edition Louis Vuitton trunk connected to the tokens, it creates a one-of-a-kind experience and makes it special for the individual who went out of their way to obtain such a unique item. It’s also worth noting that the trunk comes with a certificate of authenticity.
It’ll be interesting to see how Louis Vuitton’s entrance into the world of NFTs plays out and how it’ll shape the industry. The possibilities are seemingly endless and if the development of digital art is embraced by more fashion houses, then it could be a great tool for creating an even more immersive experience when it comes to fashion.