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Europe’s Wealthiest Man Bernard Arnault Isn’t Into the Metaverse -Breaking

by Mike Robinson

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Europe’s Wealthiest Man Bernard Arnault Isn’t Into the Metaverse

Many luxury global brands like Gucci and Bulgari have joined the NFT World, as has Prada (OTC). However, Bernard Arnault, the ‘father’ of Louis Vuitton, Dior, Givenchy, and many other renowned brands, isn’t convinced about joining the metaverse yet.

Bernard Arnault is the CEO of LVMH, the world’s largest luxury product company with a recorded revenue of 64.2 billion euros in 2021.

“It’s a purely virtual world and until now, we are in the real world and we sell real products. To be sure, it’s compelling, it’s interesting, it can even be quite fun. We have to see what are the applications of this metaverse and these NFTs,”
Arnault said.

Even though Arnault had assured that so far, none of the LVMH brands are entering the metaverse, he admitted that the metaverse is “though-provoking” and could show potential for some brands in the future:

“It will be interesting to see how it generates profit. NFTs are generating profits, and I’m sure this will have a positive effect if things are done properly.”

The Flipside

  • Louis Vuitton launched last summer launchedAn NFT-game featuring Beeple’s art.
  • Givenchy SoldFor 5 ETH, 15 artifacts that are blockchain-backed can be purchased.
  • LVMH’s liquor brand Hennessy recently released an NFT collection.

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