Designer house Louis Vuitton and popular Japan-based artist Yayoi Kusama have partnered to release another non-fungible token collaboration.
This latest collaboration follows the successful release of an NFT game, which took place a few months before. The two global brands partnered to provide users with access to 10k NFTs. The partnership marks the 200th anniversary of Louis Vuitton, the latter enabling customers to trade their NFTs for physical copies.
After the price of crypto started to rise and NFT trading ignited, the NFT market received fresh attention. The designer brand wants to be a part of this trend with the launch of its own collection. Louis Vuitton expects to generate income via the NFT marketplace OpenSea. The company wishes to charge its customers with 7 per cent royalties. If other NFT collections from luxury brands offer any indication, the LV X Kusama NFT project prices will revolve around 4 Ether per piece.
The Japanese artist gained fame from her Infinity Rooms and trademark pumpkin with polka dots. Kusama is one of the world-renowned artists on the internet, with a budding social media influence. By partnering with Louis Vuitton, which is considered an extremely popular brand, Yayoi Kusama wishes to grow her influence on social media.