The Louis Vuitton NFTs are back with a €7,900 phygital varsity jacket

This helped to avoid the scrutiny of the open market as well as solve the technical difficulties that can occur with open dips. It's also a departure from the traditionally transparent, hands-free nature of NFT drops, but consistent with the luxury mindset. At a time when NFT falls have slowed to a slow trickle, it also offers some brand protection, as the Via project was introduced at a time when cryptocurrency valuations and consumer interest were waning.

Image may contain Louis Vuitton Pharrell Williams Clothing Pants Accessories Bag Handbag Hat Belt Footwear Shoes Jewelry...

Pharrell Williams, who was named Creative Director of Louis Vuitton Men's in 2023, was an early advocate of NFT communities.

Photo: Filippo Fior /

As part of the launch, influential personalities from the Web3 fashion space were gifted via NFTs, including Rug Radio founder Farokh Sarmad, NFT Collection founder and CEO Deadfellaz Betty and Web3 fashion investor Megan Kaspar. Other owners include DJ Steve Aoki, Ledger CXO Ian Rogers.

The brand also launched a Discord server in September. Discord has become a core social networking platform for Web3 projects, enabling chats, polls, and two-way dialogue with community members. Like luxury NFT drops, the Discord chats have become much quieter in recent months, although Louis Vuitton is still posting news to its wider community (it also has a token access area for holders) . He recently shared information about his LV Nanogram connected speaker, his presence at the NFT Paris conference, Louis Vuitton trivia, and promoting podcast episodes.

Interest remains in trendy NFTs. Syky Collective designers have sold a number of high-value fashion NFTs in recent months, including a Taskin Goec figital baseball cap for 1 ETH (about $3,000 at the time) during London Fashion Week; and six total pieces from designers Stephy Fung and Nextberries ranging from 0.1 ETH to 0.7 ETH (about $300 to $2,300 at the time) during the NFT Paris conference. Artist Claire Silver's digital fashion collection, created using generative AI, sold out in January for an estimated total of $1.17 million.

Still, what's next for luxury NFT strategies remains to be seen. While crypto ratings have increased, the influence of the Web3 'degens' community has not. By chasing ultra-high-net-worth clients and leaning on exclusivity, Louis Vuitton is tapping into an existing audience that might be intrigued by the added benefit of accessing via a new technology, rather than hoping to tap into the curiosity of larger fashion. crypto crowd.

Fix: Updated to reflect owners who received the Via NFT. April 22, 2024

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