How Luxury Brands Are Manufacturing Scarcity in the Digital Economy

Traditional luxury goods companies have treated digital as a channel. But they’re now starting to treat it as a marketplace in its own right, thanks largely to Blockchain technology, which has delivered the Non-Fungible Token. Today, the key ingredients of luxury – rarity, exclusivity, and cost — can also apply to virtual products, as companies like Balenciaga, Louis Vuitton, and Gucci have realized.