Louis Vuitton has reintroduced NFTs with the launch of a €7,900 phygital varsity jacket, designed by Pharrell Williams. This exclusive release is part of the brand’s Via NFT project and is available only to 200 holders of Louis Vuitton’s Via NFTs. The jacket, which debuted on the Autumn/Winter 2024 men’s runway, combines physical craftsmanship with digital innovation, offering both a tangible garment and a corresponding digital collectible. (LinkedIn, Vogue Business)
The Via project, initiated in June 2023, began with the sale of €39,000 phygital treasure trunks linked to non-transferable NFTs. These initial NFTs grant holders access to subsequent exclusive releases, such as the varsity jacket. While ownership of the original treasure trunks cannot be transferred, the NFTs associated with subsequent purchases like the varsity jacket can be sold on the secondary market. (Vogue Business, Highsnobiety)
Louis Vuitton’s approach to NFTs emphasizes exclusivity and controlled distribution. Interested parties had to apply and connect their crypto wallets for approval to obtain the initial Via NFTs. This strategy aims to protect against market volatility and technical issues common in open NFT drops. The brand also engages its community through a Discord server, providing updates and promotions to NFT holders. (Vogue Business)
This release reflects Louis Vuitton’s commitment to blending luxury fashion with digital innovation, targeting ultra-high-net-worth clients and offering unique, exclusive experiences in the evolving Web3 landscape.
