Luxury brand LVMH is eyeing the Metaverse ‘cautiously’.

LVMH luxury brand group The company, which oversees brands such as Christian Dior, Marc Jacobs, Tiffany & Co. and Louis Vuitton, is “cautiously looking at metaverse games and blockchain,” LVMH’s chief financial officer Jean Jacques Guiony said in its latest earnings report.

Several companies under LVMH have already begun experimenting with crypto, NFT and games.

For example, Louis Vuitton has a mobile game that players have the opportunity to win. NFT, a collaboration between Ledger and Hubolt, is also in high demand, as the company disclosed during its earnings report on April 12.

Tiffany’s CEO Alexandre Arnault recently turned his CryptoPunk NFT into adecorations and according to the information of OpenSea The company also bought NFT in March for 115 ETH, or about $380,000.

“The evolution of collecting fine arts has arrived. and a bright future with NFT” Tiffany Tweetin March

But despite the enthusiasm from each brand, LVMH Chief Executive Bernard Arnault (Father of Tiffany’s Alexandre Executive) has expressed concern that

“We have to be wary of bubbles,” Arnault said.

Guiony said it’s still hard to comment on the meaning of the metaverse for the company because the whole thing is interesting but it’s just happening.

“There are many initiatives that can lead to business development. […] and be confident that no matter what happens we will be part of it but for now Whatever happened is still unknown to us.”

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