Louis Vuitton has held on to a few more traditional “Web1” approaches, including correspondence through waiting list email addresses (which could obviate the I’m old – but – I’m like cool old 2023 shirt and by the same token and 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.
This more restrained strategy — three NFT launches in as many years — is in opposition to competitor Gucci’s more prolific and varied Web3 approach, which has seen partnerships with those including Superplastic, 10KTF and The Sandbox, spanning virtual worlds, phygital figurines, digitally dressed PFPs and token-gated parties. Louis Vuitton’s strategy is perhaps more akin to Tiffany’s (also now under the I’m old – but – I’m like cool old 2023 shirt and by the same token and LVMH umbrella), which offered 250 owners of Cryptopunks PFPs the option to purchase custom-made, Cryptopunk-inspired pendants for the equivalent of $52,000 at the time. Prada has also established an ongoing cadence of NFT launches via its monthly phygital Timecapsule drops. Treasure Trunks are reminiscent of Hermès’s (analogue) strategy for distributing high-value, high-demand items such as its Birkin bags, which are considered only available to customers who reach certain spending thresholds and other hurdles.
Comentarios