Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Esteemed fashion brand Louis Vuitton and music producer Pharrell Williams are further exploring Web3 fashion with their newly introduced VIA NFT-linked varsity jacket, as reported on Tuesday. This latest creation was made available to the holders of the company’s VIA NFTs.
The western-inspired varsity jacket, crafted from suede buckskin and adorned with the brand’s logo prominently displayed on the front, made its debut at Louis Vuitton’s Autumn/Winter 2024 men’s runway presentation in Paris earlier this January.
Louis Vuitton Unveils “Phygital” Varsity Jacket For VIA Holders
Those who own the luxury brand’s VIA NFT project and purchase the jacket (priced at approximately $8,450) will also receive its digital counterpart in the form of a collectible NFT, with only 200 units available.
The release of this item emphasizes the emerging concept of “phygital” goods—where both digital and physical versions of a product are created and sold.
The physical varsity jacket is anticipated to be dispatched to buyers by November or December of this year, while its digital version will be accessible for immediate purchase.
Pharrell Williams Engages With The Web3 Sphere
This recent digital launch from Louis Vuitton signifies the French fashion house’s ongoing commitment to leverage Web3 fashion, particularly in relation to exclusive NFT-based offerings.
Related Posts
In June 2023, the luxury brand introduced its application-only VIA project, allowing customers to acquire its inaugural Web3 creation, a digitized version of its iconic LV trunk, aptly named “The Treasure Trunk,” priced at $41,000.
As stated by Louis Vuitton at that time, the trunk was “crafted for those who aspire to journey through new dreams and realities, collecting unique creations along the way.”
This initiative represents the second NFT-related product Williams has launched with the brand, following his initial offering last June, which featured the company’s orange monogram Speedy 40 bag, sold for just over $9,000.
Louis Vuitton VIA. The first VIA journey is now available. Discover the Speedy 40 VIA @Pharrell, revisiting the Maison’s iconic bag crafted in 1930. Discover more at https://t.co/FN7LgduFzK#LouisVuittonVIA #PharrellWilliams pic.twitter.com/X2i5G7w9xQ
— Louis Vuitton (@LouisVuitton) July 17, 2023
Moreover, Louis Vuitton’s women’s creative director, Nicolas Ghesquière, introduced a $6,400 mini trunk for the brand late last year.
Expansion of Web3 Fashion
As the metaverse continues to grow, the Web3 fashion sector is projected to experience significant business growth over the next decade. By 2031, it is anticipated to reach $4.8 billion, with a compound annual growth rate exceeding 26%.
Louis Vuitton has consistently remained at the forefront of emerging technologies in the fashion industry, most recently launching a Discord server related to its future projects.
The luxury brand’s choice to maintain its leadership in the Web3 fashion landscape could establish a foundation for what luxury style may evolve into in the future.
The post Pharrell Williams And Louis Vuitton Launch NFT-Linked Jacket To VIA Holders appeared first on Cryptonews.
