Why are the top luxury brands LV, Burberry, and Gucci entering the NFT field one after another?

LV Louis Vuitton NFT-based game application

As the 200th anniversary approaches, luxury brand Louis Vuitton (Louis Vuitton) launched the NFT-based game application “Louis: TheGame” to celebrate the birthday of the founder.

The game is to follow the journey of LV classic doll Vivienne (Vivienne is designed and named by Louis Vuitton’s iconic flower monogram). They travel to Paris, London, Beijing, Tokyo and New York and other vibrant places to find a representative of Louis. 200 postcards of Vuitton’s historical milestones, which contain the history and anecdotes of the founder’s life.

In addition, players will collect 30 non-fungible tokens (NFT) during the game, 10 of which are designed by digital artist Beeple. NFTs are collectible but not for sale.

Louis Vuitton officially pointed out that every non-functional product in this series is a pure digital asset from the Louis Vuitton Ethereum wallet. Its origin and authenticity are guaranteed on the Ethereum blockchain.

Burberry launches NFT virtual doll

Burberry is working with Mythical Games to launch a non-fungible token (NFT) series in its flagship game Blankos Block Party.

Why are the top luxury brands LV, Burberry, and Gucci entering the NFT field one after another?

Blankos Block Party is a multiplayer party game. It features a digital vinyl toy named Blankos that exists on the blockchain. It essentially provides players with verified ownership and proof of authenticity. Burberry is the first to appear in Blankos. Block Party’s luxury brand.

The limited edition Burberry Blanko (a shark called Sharky B) is decorated with Burberry’s new TB Summer Monogram and inspired by the brand’s Animal Kingdom brand code. It is an NFT that can be purchased, upgraded and sold in Blankos Block. market.

Why are the top luxury brands LV, Burberry, and Gucci entering the NFT field one after another?

As part of the series, Burberry will launch its own brand of in-game NFT accessories, including jetpacks, armbands and pool shoes, players can apply these accessories to any Blanko they own. Sharky B can also receive training to master a range of abilities, including speed and agility, to ensure the uniqueness and rarity of the toy.

“Games are a unique space for us to test, learn, and experiment with digital innovations that embody our values ​​and celebrate creativity in our community. Working with Mythical Games feels like the next natural step, transcending the world by introducing Burberry Our in-house game Burberry Chief Marketing Officer Rod Manley shared.

This will be the first digital product released as part of the Burberry B series, which is a series of limited edition products available on Burberry channels.

The limited edition Burberry Blanko will be available to all Blankos Block Party players around the world for in-game purchase on August 11.

Why top luxury brands are also entering the NFT field

Gucci has worked with technology companies in the AR virtual shoe series. And Louis Vuitton (Louis Vuitton) and Burberry (Burberry) respectively designed limited skins with brand characteristics for the characters in “League of Legends” and “King of Glory”.

From the perspective of contemporary art, the great success of Beeple’s work is a major leap forward in the digital art form, and the success of the fusion of its creative concepts and experimental presentation methods. Long before NFTs or digital assets, the exploration of digital art has started since the birth of the information industry.

In the 1950s, Lapoky, who started using oscilloscopes to capture lightwave images, was the first artist to use digital forms to create works. He used precision instruments for electronic photography and assembled a series of works. In the 1990s, Faure Walker, which integrated various creative tools such as painting, photography and PS, also insisted on creating a digital artwork every day for several years. Until today, Beeple has originally issued tokenized artworks on the chain. These creators are trying to expand the carrying limit of humanistic value with the help of technological innovation.

In the past, it was difficult to imagine how a JPEG file would be priced and traded. Based on the blockchain, creators completed a complete set of creation, circulation, pricing, and confirmation of works in their native digital environment and using its open network facilities. And the anti-counterfeiting traceability process, and avoid these complicated links.

In the field of commercial art and its derivative artistic consumer products and cultural peripheral products, the younger generation of consumers’ acceptance of new things and their consumption power of cultural products have gradually revealed the potential of the popular collectibles market. Generation Z is an audience experience established in digital narratives. They are the aboriginals of the contemporary digital world. They are different from the millennials who have grown up in the transition between fine art and digital art narratives. Agree with the value of electronic forms. For millennial consumers, NFT is naturally highly integrated with various Internet memes, and the high recognition in terms of fun naturally greatly enhances the attractiveness of NFT.

The characteristics of high liquidity, price openness, and transparency of the transaction process realized based on the blockchain are beyond the reach of offline transactions. NFT has overturned the power structure of the creative and content industries and returned more control to creators. I believe that more and more creators and IP will join the NFT ranks. Taking the current data on the chain as an example, the average single transaction value of NFT is about 10,000 yuan, and a new market of hundreds of billions like Bubble Mart may be generated on the chain.

As cultural identity is gradually condensed on the digital carrier, the digital world’s ability to meet various needs of human nature is also improving. When people can carry out sufficient economic and cultural activities in the virtual space, a new interaction with the world The way of is also produced, that is, the meta universe.

 

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