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 details 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 market in cryptocurrencies. The famous luxury brand Louis Vuitton has decided to capitalise on this trend and announced the launch of a collection of NFTs.
To mark 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 and fashion world for her distinctive style, which often combines repetitive patterns and bright colours.
YayoiKusama in Tokyo. Following her collaboration with the Maison, the Japanese artist visited LouisVuitton‘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 the collaboration, according to The Crypto Times, Louis Vuitton and Yayoi Kusama will create a series of NFTs based on Kusama’s original artworks. Nothing has been revealed yet, but it seems that the collection will contain 10,000 NFTs, sold at a price of 4 Ether (ETH) each (about $6,621).
The price is obviously high in a market where most investors are making losses – despite the recent rebound – but could be justified. Indeed, the luxury brand should allow NFT holders to convert their digital work into a physical product.
This initiative shows the growing popularity of NFTs in the fashion and art world. More and more brands and artists are turning to NFTs as an innovative way to monetize their work, while reconnecting with their customers and fans.
Louis Vuitton and the Web3
This collection of NFTs does not mark Louis Vuitton’s debut in Web3. In 2021, the Parisian luxury house launched the game “Louis: The Game” – on iOS and Android platforms – which featured the mascot Vivienne.
Through various adventures, players could collect one of 30 collector’s items in the form of an NFT. This initiative appeared very early in the history of the metaverse and NFTs and 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 luxury brand’s creator and allowed those who picked them up to be eligible for a draw for one of the 10 NFTs in the collection released at the same time.
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 four levels, players must collect unique items to fill their trunk and hope to obtain a special reward, which could be a ticket to the NFTs collection.
