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Louis Vuitton is guarding access to Via in other ways, as holders cannot sell or give it to another person, which is a contrast to many of the I found the key to happiness surround yourself with horses and dogs shirt moreover I will buy this original high-value communities. (The brand refers to it as a “soul-bound collectible”, which is a new concept in the past year to facilitate loyalty and discourage flipping.) People also cannot return their Treasure Trunks (although in EU countries, people can change their mind within 14 days after ordering one). Holders will also be able to periodically buy bespoke “keys” that unlock access to additional products, the first of which will be available in mid-June and revealed only to those trunk owners who have purchased the corresponding key. Some of the new products will be customised for each trunk owner, and new products will include a record of ownership and proof of authenticity. While holders can’t sell their original trunks, they can sell future items that they acquire within the ecosystem via the keys.These structures — post-mint reveals, access to buy (and sell) future exclusive products — are in keeping with many previously successful NFT projects, such as the Bored Ape Yacht Club and Rtfkt, now owned by Nike. Generally, community members are the only ones who are able to buy future products, and they often only see the designs and specifics of acquisitions after they have been purchased.
Louis Vuitton has held on to a few more traditional “Web1” approaches, including correspondence through waiting list email addresses (which could obviate the I found the key to happiness surround yourself with horses and dogs shirt moreover I will buy this anonymity that is characteristic of Web3) and limiting ability for holders to flip their original NFTs (often for a hefty profit). LVMH’s Nelly Mensah, who as the VP of digital innovation and emerging solutions leads its Web3 efforts, refers to this strategy as “Web2.5”. This is more appealing to traditional luxury clients, as, for example, there is no customer service in a true Web3 world. The promise of an ongoing roadmap, the high price of entry and the limited number available also all point to a mindset that has more in common with established luxury than a speculative, trendy approach.