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Louis Vuitton, Christofle, McLaren,… luxury brands, from all sectors, are joining the Metaverse to offer new experiences. But why such a craze?
For luxury brands, the craze for NFTs is real. The digital demand is expected to grow for fashion and luxury brands and thus generate a revenue, beyond 50 billion dollars by 2030 for the sector, according to Morgan Stanley. Luxury brands have therefore understood this and are now increasingly tempted by the metaverse and the creation of NFTs for their audiences.
Digital tokens are above all unique, traceable, and non-copyable and luxury players, who attach real importance to the authenticity of their products, seem to be sensitive to this discourse. Indeed, NFTs are supposed to avoid the phenomenon of counterfeiting, by offering an exemplary traceability throughout the life of the object or work, despite future sales and resales.
A growing interest for all luxury sectors
At the beginning of 2021, the watch brand Hublot teamed up with artist Takashi Murakami to create a monochrome Classic Fusion Takashi Murakami All Black watch adorned with black diamonds and featuring the Japanese illustrator’s beloved flower symbol. A few months later, the two partners repeated the experience with a multicolored Classic Fusion Takashi Murakami Sapphire Rainbow version set with 487 stones. Issued in quantities of up to 200, these timepieces are this year the subject of NFTs based on the Ethereum blockchain and animated in the form of Gifs, a way to create exclusivity and attract new audiences.
More surprisingly, the goldsmith Christofle is trying its hand at the metaverse by creating “Christofle Aurifaber Citatis“, an imaginary universe built around elements of the brand’s coat of arms. Only holders of one of the 529 NFTs named 925 Genesis Mood, which went on sale on May 7 for 0.1 ether (about €232), are entitled to enter this part of the metaverse. “Charles Christofle built the house’s reputation on an innovation: silver-plated tableware made with an electrolysis process. (…) Christofle approaches the metaverse with this pioneering spirit: it is a new means of expression, which allows us to address a target that would not spontaneously come to our stores or our e-commerce site,” explains Marie Beaussier, Christofle’s Director of Products and Services.
Another field, same battle: the automobile. The McLaren group is indeed very interested in these virtual worlds and plans to create NFTs of its luxury supercars, in partnership with the metaverse infrastructure platform Infinite Assets, also known as InfiniteWorld. The latter helps brands create and monetize digital assets, as well as NFTs.
McLaren Automotive announced that its future luxury supercars in NFT would also provide access to exclusive experiences for their owners. Combining exclusivity and experience is a recipe that works in the luxury world, as every consumer wants to feel unique and have an out-of-the-ordinary experience.
Reaching out to new audiences is one of the motivations of brands that rely on metavers. “NFTs are a way to value a new community and to create a more direct link with it,” confirms Justine Vilgrain, co-founder of Braw Haus and NFT Factory. “For artists, it’s also a real playground.”
New targets
Some luxury brands are using NFTs to target new customers. LVMH, for example, after getting into video games with Louis Vuitton and “Louis the Game“, has unveiled its first virtual muse, who will be officially presented at the “Viva Technology” trade show (in Paris from June 15 to 18, 2022). This virtual ambassador should undoubtedly arouse the curiosity of new consumer profiles.
This was also the case for Balenciaga with its collaboration with the world-famous game, Fortnite, unveiling both a virtual and physical collection. This attracts a new clientele fond of video games, who can potentially like and buy the brand’s products.
Brands are also looking to build virtual communities, because just like buying a physical object, virtual tokens also allow to claim a membership to a group or community.
Read also > DAMAC GROUP READY TO ENTER THE METAVERSE
Featured photo : © Christofle[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Louis Vuitton, Christofle, McLaren,… luxury brands, from all sectors, are joining the Metaverse to offer new experiences. But why such a craze?
For luxury brands, the craze for NFTs is real. The digital demand is expected to grow for fashion and luxury brands and thus generate a revenue, beyond 50 billion dollars by 2030 for the sector, according to Morgan Stanley. Luxury brands have therefore understood this and are now increasingly tempted by the metaverse and the creation of NFTs for their audiences.
Digital tokens are above all unique, traceable, and non-copyable and luxury players, who attach real importance to the authenticity of their products, seem to be sensitive to this discourse. Indeed, NFTs are supposed to avoid the phenomenon of counterfeiting, by offering an exemplary traceability throughout the life of the object or work, despite future sales and resales.
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Louis Vuitton, Christofle, McLaren,… luxury brands, from all sectors, are joining the Metaverse to offer new experiences. But why such a craze?
For luxury brands, the craze for NFTs is real. The digital demand is expected to grow for fashion and luxury brands and thus generate a revenue, beyond 50 billion dollars by 2030 for the sector, according to Morgan Stanley. Luxury brands have therefore understood this and are now increasingly tempted by the metaverse and the creation of NFTs for their audiences.
Digital tokens are above all unique, traceable, and non-copyable and luxury players, who attach real importance to the authenticity of their products, seem to be sensitive to this discourse. Indeed, NFTs are supposed to avoid the phenomenon of counterfeiting, by offering an exemplary traceability throughout the life of the object or work, despite future sales and resales.
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