Luxury brand Louis Vuitton and famous 93-year-old Japanese artist Yayoi Kusama, have partnered to launch their first NFT collaboration, which consists of 10,000 NFTs (digital assets) that customers can access. Additionally, as part of the celebrations for Louis Vuitton’s 200th anniversary, the company is making it simple for customers to switch over from digital to physical products of the purchases.
After a 10-year hiatus, Louis Vuitton and Yayoi Kusama are collaborating again.
Louis Vuitton is one of the first brands to capitalise on the trend of launching an NFT collection to gain traction in the NFT market. This makes Louis Vuitton one of the first movers’ brands, and by imposing a 7 per cent loyalty fee, Louis Vuitton intends to capitalise on the revenue streams provided by the OPENSEA Marketplace.
Additionally, based on the prices of other luxury brands’ NFTs, industry experts estimate that the NFT collaboration between Louis Vuitton and Yayoi Kusama will cost somewhere around 4 ETH.
Yayoi Kusama is well-known for her infinity rooms and her polka-dot pumpkin that has become her trademark. Collaborating with Louis Vuitton will provide visibility to reach a wider audience, and this partnership is one such example of how the fashion industry as a whole, including the luxury segments, is embracing innovation and the digital space.
