NFT News-Louis Vuitton embraces Web3, launches its iconic trunk as a Digital Collectible

French luxury residence that is blockchain-friendly Louis Vuitton expands its Web3 efforts by making its iconic trunk available as a digital collection.

As the fashion industry embraces the "phygital" future, Louis Vuitton announced the release of the VIA Treasure Trunk, a virtual version of its iconic travel trunk.

With blockchain technology, the digital world can mimic how exclusive ownership feels in the actual world. Blockchain made holding a portion of a unique digital asset, such as a nonfungible token (NFT), as fulfilling as owning its physical counterpart by providing an immutable, transparent, and public infrastructure to verify ownership.

Physical items began giving birth to their equally distinct digital twins on the blockchain, ushering in the phygital movement in the Web3 era. Given the nature of digital ownership, products that prioritise aesthetics above utility are foregrounding the trend, from Metaverse designer stores to digital art collections.

As the physical and digital worlds become more intertwined, prominent corporations continue to develop their artistry and creativity in order to seek new possibilities. The latest step in the evolution of phygital comes from the luxury brand Louis Vuitton, which is no stranger to blockchain.

The French luxury house is well-known for its technological and innovative approaches. Louis Vuitton previously participated in the Aura blockchain initiative, employing the technology for their LV Diamonds collection, to improve transparency and traceability for the whole luxury business. To commemorate the 200th anniversary of its founder, Louis, the firm released 'Louis The Game,' a video game in which players seek for 30 NFTs concealed around the metaverse.

The French luxury business is now recreating its most iconic piece of luggage, the Louis Vuitton trunk, as a digital collectible in order to accelerate its journey into the Web3 arena.