Reports said that Louis Vuitton and the famous Japanese artist Yayoi Kusama are releasing their first nonfungible token (NFT) collaboration.
It has been reported that this is after the successful launch of their first NFT game a few months ago. This partnership between two international icons offers customers access to 10,000 digital assets.
However, Louis Vuitton celebrates their 200th anniversary by allowing customers to easily exchange these digital assets for tangible copies. The NFT market has gained attention due to the rise in crypto prices and increased NFT trades. Louis Vuitton is capitalizing on this trend by launching their own NFT collection.
The report said that the company plans to generate income through the OpenSea marketplace by charging customers a 7% royalty. Based on the prices of other luxury brands’ NFTs, experts estimate that Louis Vuitton X Yayoi Kusama’s NFT collaboration will cost around 4 ETH.
Likewise, Yayoi Kusama, famous for her Infinity Rooms and signature polka-dotted pumpkin, ranks as one of the world’s most famous artists. Her growing influence on social media has made her a household name. By continuing to collaborate with Louis Vuitton, a brand with a large customer base, both reach new heights.
Thus, the surge in NFT popularity, along with the legacy of Louis Vuitton and Kusama, is expected to bring a new era in the digital arena as many luxury brands embrace innovation and adapt to the digital space.
Source: NFT Evening
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