One of Louis Vuitton’s (LV) most storied luxury handbags, the ‘Speedy,’ is being transformed into a digital collectible 93 years after it was created.
The ‘Speedy 40 VIA’ non-fungible token, designed with the help of legendary producer and fashion mogul Pharrell Williams, is currently available to be claimed — but the release of the IRL bag will not occur until sometime in 2024.
The new NFT and its accompanying IRL products will be limited to Treasure Trunk NFT holders, the access token from LV that was released on June 8 for the hefty price of €39,000, or around $43,750 at the time. The Treasure Trunk NFTs came with several hundred physical twin products, as well as the promise of future access to exclusive merchandise and experiences.
Pharrell Williams has been the LV’s Men’s Creative Director since February of this year. The award-winning recording artists is heavily involved in Web3. He has also been serving as the Chief Brand Officer of Doodles blue chip NFT collection since June 2022.
The Speedy handbag was first inspired by the travel revolution of the 20th century. It quickly rose to fame In the 1960s when actress Audrey Hepburn requested a smaller version of the bag — subsequently named the ‘Speedy 25.’ Over the years, the Speedy has found its way into the wardrobes of the world’s top celebrities, including stars such as Nicole Richie, Lindsey Lohan, Dua Lipa, and Rihanna.
VIA is LV’s latest venture into Web3, where physical and digital products and experiences are seamlessly merged in an aim to redefine luxury products and travel. Although the release of the VIA Treasure Trunk NFTs wasn’t the brand’s first move in Web3, it was certainly its biggest and set the groundwork for future drops and experiences.
By creating a Web3 community through the release of its high-priced NFTs, LV can now isolate its super fans and continue to provide them value for years to come. The Speedy 40 VIA is the likely the first in a long line of gifts and experiences for Treasure Trunk NFT holders.
Luxury Fashion Embraces Web3
Louis Vuitton’s latest NFT drop is exciting for the select holders of its Treasure Trunk NFTs. But LV isn’t the only luxury fashion brand that’s been all-in on Web3 lately. At Rarity Sniper, we’ve covered dozens of stories about luxury fashion entering Web3. Here are some of the top headlines from this year.
First, last week, Gucci partnered with renowned auction house Christie’s for a generative NFT collection. The collection features 21 works from Claire Silver, Botto, Emily Xie, and other digital artists. It was inspired by a specific Gucci handbag collection called ‘Bamboo 1947.’
Next, on July 3rd, the French fashion house Dior dropped a set of NFT sneakers that come with IRL digital twins. The drop was limited to only 470 pairs, with each pair fetching a price tag of $1,350. The outside of the IRL shoes is made from turquoise oblique mohair.
Finally, three weeks ago, Lacoste, a more accessible luxury fashion brand, launched a dynamic NFT contest to engage its Web3 community. The project is called “The Mission,” and it aims to challenge previously held ideas about the intersection of NFTs, loyalty programs, and brand building.
NFT’s ability to connect brands and communities through novel experiences, token-gated access to products, and more , is a big reason why many luxury brands are experimenting with the technology. At Rarity Sniper, we’ll keep our eyes and ears open for any developing news about Louis Vuitton’s latest NFT drop.