Recently, it has been widely rumored that Yayoi Kusama and Louis Vuitton are teaming up for an NFT collaboration. However, the fashion house confirmed that the rumor that Louis Vuitton is collaborating with Yayoi Kusama for an NFT drop is false.
Quick Take:
- No NFT collection will launch as part of Louis Vuitton and Kusama’s collaboration.
- Louis Vuitton’s collaboration with Yayoi Kusama includes redesigning several stores worldwide.
Due to the spread of misinformation, many forged NFT collections have been created on OpenSea in the last few days. All of these shady third parties are attempting to pass off these NFTs as genuine. Before creating or purchasing any NFT, it is critical to double-check the information.
OpenSea Takes Steps To Address Fraud On Its NFT Platform
OpenSea, one of the largest NFT marketplaces, revealed that a large part of its free token minting tool is being abused for spam and fraudulent activities.
The business reported that more than 80% of NFTs created using its tool were spam, fake collections, and counterfeit. At first, OpenSea attempted to restrict the quantity of NFTs a user could create. However, this resulted in backlash from the neighbourhood, and the business quickly changed its mind and apologized.
The incident serves as a reminder of the growing difficulties that NFTs present for photographers and artists. Scammers and automated programs are stealing and profiting from their work. Some creators have criticized OpenSea for slow takedown request processing and inadequate support for victims of theft and fraud.
Louis Vuitton and Yayoi Kusama: Facts And Details
Louis Vuitton collaborated with Japanese artist Yayoi Kusama to redecorate several of its stores worldwide. The overhaul ranges from subtle additions to window displays to surreal additions to the building itself.
Related Content: Louis Vuitton x Yayoi Kusama Takes Over Iconic Landmarks With AR
In Paris, they affixed a massive balloon portrait of Kusama to the exterior of the flagship store. Further, the Tokyo store remade its window displays in Kusama’s pumpkin art style. In New York, they placed an animatronic of Kusama painting inside the windows.
The brand has timed the installations with the release of Louis Vuitton’s capsule collection inspired by Kusama’s creative career.
To reiterate, there will be no NFT collection launch as part of the collaboration between Louis Vuitton and Kusama.
Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.
