The NFT market has been incredibly profitable this year, with many brands jumping on board the frenzy. Louis Vuitton is the latest luxury brand to enter the NFT space by offering a digital collectible version of its iconic travel trunk. Dubbed the VIA Treasure Trunk, this NFT will give holders exclusive access to the brand’s design house, Maison, and never-before-seen Louis Vuitton designs. The NFT is priced at an extravagant €39,000 (approximately Rs. 34 lakh) and is non-transferable. While the exact number of these NFTs to be launched is unclear, Louis Vuitton plans to offer at least a “few hundred” of them. To purchase this NFT, interested individuals will need to register with a legitimate crypto wallet and join the waitlist starting June 8th. Select individuals from the waitlist will be invited to an exclusive preview page on June 14th. Louis Vuitton has previously worked on Blockchain solutions, including joining forces with Prada and Cartier on the aura project. The brand also released a metaverse game. As the utility of NFTs in the Web3 world becomes increasingly important, brands like Nike, Gucci, and Dolce & Gabbana have reportedly earned a total of $260 million (approximately Rs. 2,074 crore) with their NFT sales. The global NFT market valuation hit a nine-month high of over $2 billion (approximately Rs. 17,200 crore) in March amid a 117% increase in NFT sales.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
