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Louis Vuitton bets on the metaverse with a new NFT collection

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After taking its first steps into the world of NFTs in August 2021, Louis Vuitton is launching a new collection of NFTs.

The beginnings of Louis Vuitton in the world of gaming

On the occasion of the 200th anniversary of its founder, fans of the brand were able to discover a video game entitled “ Louis: The Game.” Its main character is Vivienne, a small monogrammed flower iconic of the House.

His quest allows him to trace the key moments in the life of Louis Vuitton. The label had already approached the world of video games by partnering with the “League of Legends” franchise in 2019. With Louis: The Game, it tackled the notion of digital property through 30 pieces to collect

Created by Beeple and its start-up Venew Labs, players could win 30 postcards telling the story of Louis Vuitton. Beeple is incidentally the best-selling digital artist in the world, with the most expensive NFT in history at $69 million

Michael Burke, CEO of the brand, then clarified that these NFTs did not have a commercial but rather educational purpose. Eventually, although LVMH CEO Bernard Arnault announced his mistrust of the metaverse “bubble”, the house seemed willing to slowly make its way into Web3.

The luxury craze for the metaverse

 

The Louis Vuitton brand is now strengthening its position by preparing to launch new NFT rewards linked to this mobile application game. By collecting a sufficient number of these tokens, players will be able to participate in the draw scheduled for August 8.

They may be able to win one of 10 new Vivienne NFTs that can be used on various platforms across the metaverse. It is always Beeple who collaborated in the edition of these tokens, minted from the Ethereum wallet of Louis Vuitton.

However, LV’s first steps into the NFT sector are not surprising. Indeed, many luxury and fashion brands are trying to take advantage of web 3.0. Like LV, Burberry last August released an NFT character for its online game, Blankos Block Party.

The character, called Sharky B, is dressed in monochrome Burberry TB. Burberry Chief Marketing Officer Rob Manley said:

Pushing boundaries through experimentation is at the heart of what we do at Burberry, and we continually seek to connect with our communities in the spaces they love.

Brands are indeed seeking to make themselves known to a younger audience. NFTs and web 3.0 are major allies in this quest. Last month, Decentraland hosted the Metaverse’s first fashion week. Several brands such as Gucci or Dolce & Gabbana paraded there.

Despite the potential of these concepts, the enthusiasm of the brands seems to exceed the current interest of the public. A study conducted by Piper Sandler proves it. Indeed, out of 7,100 American teenagers surveyed, only half said they were interested in the Metaverse. Still, in the same sample, only 26% of them have a virtual reality headset necessary to access the Metaverse.

Nevertheless, the brands do not seem to be discouraged by these figures at all. Perhaps with good reason: more than two million players have downloaded Louis: The Game.  

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