Get ready for a juicy scoop! The world’s richest person, Bernard Arnault, CEO of luxury conglomerate LVMH, has a secret non-fungible token (NFT) collection. That’s right, despite publicly expressing skepticism towards the digital asset, Arnault has been caught red-handed.
Ian Rogers, the former chief digital officer at LVMH spilled the beans on a recent episode of the Aarthi and Sriram’s Good Time Show podcast. According to Rogers, Arnault proudly showed him his OpenSea page, showcasing his beloved NFT collection.
Arnault is not alone in his fascination with digital artwork. He joins the ranks of other billionaires who have built collections of NFTs, proving that the craze isn’t just for the tech-savvy.
However, this news is quite the reversal from Arnault’s previous warnings regarding NFTs. During a January 2022 LVMH earnings call, Arnault claimed that the company was “not interested in selling a pair of virtual sneakers for 10 euros” and warned that NFTs may represent a “bubble” that could soon burst.
He even compared the craze to the beginning of the Internet in the 2000s, where “there were all sorts of things cropping up left, right, and center.”
Despite his skepticism, Arnault acknowledged that the concept was “thought-provoking” and suggested that “there may be more relevant applications” where NFTs generate profit.
LVMH has experimented with digital tokens through a few of its many companies. They released Fendi accessories for a crypto wallet and integrated NFTs into a Louis Vuitton mobile game.
Also Read: Louis Vuitton Releases PFP NFT Rewards in Louis: The Game
Two of Arnault’s children, Alexandre and Frederic, who are both ardent NFT collectors, have been in charge of the LVHM’s NFT initiatives. But last March, Alexandre was accused of insider trading of Hypebear NFTs, with his spokesperson denying the ‘rumours’ that he had inside information about the bears’ attributes.
Arnault and his wife Helene were even named the richest couple in Artnews’ 2020 ranking of the top 200 art collectors. It appears that Arnault’s appreciation of art has spread to the world of technology. Who can predict what he will get next? Stay tuned.
Also Read: LVMH Eyes Metaverse but Focus on ‘Real Products’ Reveals CEO Arnault
