The NFT collection is owned by the world’s richest man, Bernard Arnault

by James · May 3, 2023

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2 France’s Bernard Arnault owns the NFT collection, but he showed a loss of interest in the technology.

Bernard Arnault, the richest man in the world, can own almost any luxury item. He is the CEO of LVMH, while his net worth, according to Forbes, is $236.7 billion. He overtook Elon Musk and Jeff Bezos to become the world’s richest man. Whether it is about owning any luxury brand or owning any private island. As he previously said, he showed no positive attitude towards technology. Still, it’s quite strange that he owns a non-fungible token (NFT).

NFT collection by Bernard Arnault

NFTs are one of the most emerging technologies at the moment. It is a very common term in the crypto industry. Arnault, who has previously shown little confidence in the technology, owns NFT which is also part of the technology.

During a conversation with Ian Rogers, his former advisor and digital head of LVMH, Bernard Arnault revealed about his own NFT collection. He has his own “little nest egg of digital collectibles.”

But during a podcast, Rogers confided in the hosts his certainty about the digital collection of Arnault.

Arnault’s sons think differently from their father and are technology lovers. As they have shown their greater interest in technology. Like, “Alexandre Arnault once flaunted a bejeweled Cryptopunk Tiffany pendant and brother Frederic Arnault, CEO of Tag Heuer, showed off his enthusiasm for Web3 technology with NFT display functionality on the luxury watch brand.”

OpenSea NFT data

According to the data obtained from OpenSea, Bernard Arnault’s name has 3-NFT collections and 301 objects on the platform. There is no clear evidence available for the actual collection of Arnault’s NFTs. Currently, Notable Pepes, BENZ Official and Nakamigo’s are the top-3 NFT compilations.

According to a Reuters report, the OpenSea insider trading case is going to the jury. The former product manager of OpenSea, Nate Chastain used anonymous accounts and traded NFTs with it. Prosecutors said his actions “were a clear indication that he was up to no good”. It is said that the decision of the jury related to this case could “significantly affect the NFT industry.” Meanwhile, the reputation of OpenSea may also be affected.

On May 1, during the trial’s closing arguments, prosecutor Thomas Burnett charged Chastain, showing his greed. As the prosecutor said, the former OpenSea product manager already knew he was meant to showcase NFTs on the website designed to serve the firm, not himself. He further said, Chastain tried to get a quick one by using anonymous accounts to trade NFTs. It clearly shows that he already knew his actions were shady.

Also, if Chastain ever thought about his actions being above board, he could have easily used his regular accounts. But he was trying to throw people off the scent, as the lawyer said. Still, some at OpenSea have rallied to his defense.