Louis Vuitton releases €39,000 digital collectible treasure trunk.

The French luxury fashion house Louis Vuitton has released its iconic travel trunk as a digital collectible in a collection called the VIA Treasure Trunk. This launch is part of Louis Vuitton’s commitment to digital adoption and Web3.

The Treasure Trunks are part of Louis Vuitton’s broader “Via” project. Via, which means “road” in Latin, is the fashion house’s project that offers several products and experiences to a select few.

Each Treasure Trunk costs a pricey €39,000. Although Louis Vuitton has not specified the exact number, it has said that it will mint “only a few hundred”. Interested parties must join a waiting list by completing a registration process using a crypto wallet. Registration begins on June 8.

After the registration process, the company will select qualified individuals and send them invitations to view a private VIA page on June 14. However, these individuals will not be able to purchase 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.

The Louis Vuitton travel trunk was first launched in 1858.

Treasure Trunks Continue Louis Vuitton’s Blockchain Involvement

The launch of Treasure Trunk SBTs is not Louis Vuitton’s first foray into 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 of the consortium 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 Metaverse

LVMH may also have its sights 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 approaching this consideration “carefully”. He said at the time that the metaverse was promising but still nascent. Nonetheless, the CFO assured that LVMH will be a part of the metaverse boom. However, CEO Bernard Arnault warned that LVMH must be “wary of bubbles”.