Source: Business of Fashion
The chief executive of Paris-based luxury production house LVMH, Bernard Arnault recently gave his own perception of the metaverse. In his annual presentation to investors, Arnault made it very clear that the company is in no hurry to break into the world of metaverses.
According to Business of Fashion, Arnault is considering possibilities and βmonitoring sales developments with virtual fashion, and is interested in potential applications of NFTs.β Arnault said, βRight now, weβre in the real world selling real products. Obviously, itβs charming, itβs interesting, itβs fun. But weβll have to see what this metaverse and NFT implementation will be. He went on to add that while itβs entirely possible to enter the metaverse, itβs worth thinking about the βpositive impact on our brandβ he understands that if itβs not βdone wellβ it can lead to bad things to hit his business.
Arnault said, βItβs not our goal to sell virtual sneakers for 10 euros. We donβt like that. But there may be more relevant applications.β Arnault seems pretty firm on his stance about not rushing into the NFT space. It looks like LVMH will take the path of precaution before fully entering the metaverse.
