In order to produce a brand-new collection that celebrates unheard-of innovation, Louis Vuitton collaborated with Japanese artist Yayoi Kusama.
Although there are reports of a related NFT decline, there has been no official confirmation from the key sources.
The partnership might be a sign that NFT adoption in the luxury market will continue.
Yayoi Kusama, a modern Japanese artist, and international fashion label Louis Vuitton have collaborated on a brand-new collection. The new collection, according to the official Louis Vuitton website, includes
“Reinterprets legendary pieces from the Maison while adding the artist’s distinctive motifs.”
Following the successful launch of their NFT game in May 2022, Louis Vuitton unveiled the collection in January 2023.
Since the release of the Louis Vuitton x Yayoi Kusama collection, rumours of a 10,000 NFT drop have appeared. The information source appears to be an unverified OpenSea collection.
According to reports, 10,000 NFTs will be made available to commemorate Louis Vuitton’s 200th birthday.
Numerous news outlets have speculated about the NFT decline, and WuBlockchain tweeted the following:
“Customers will be able to turn these NFTs into actual goods thanks to Louis Vuitton.”
According to some remarks, the NFTs will cost around four ETH when compared to the cost of NFTs from other luxury brands.
The Louis Vuitton x Yayoi Kusama collection, which was unofficially launched on OpenSea in February 2023, featured 46 products with an average price of four ETH on February 7th, 2023.
Several Web 3.0 news outlets have confirmed the information in the description, but intriguingly, there has been no mention of the NFT decline in big fashion periodicals like Harper’s Bazaar and High Snobiety.
On the other hand
The OpenSea NFTs are not linked to on the Louis Vuitton x Yayoi Kusama official website, only an Instagram filter and a selection of LVxYK mini-games.
Famous supermodels, specialised pop-up shops, like Harrods in London, and the adornment of Louis Vuitton stores all over the world with Kusama motifs all contribute to the global celebration of the collection.
Why It’s Important
If the rumours are accurate, projects like the Louis Vuitton and Yayoi Kusama partnership may serve as an example of NFT acceptability in the luxury sector and the coexistence of conventional and digital art.