LVMH CEO is wary of 'bubbles' in the metaverse

LVMH CEO Bernard Arnault believes that there will be business opportunities for luxury goods in the metaverse in the years ahead but prefers to focus on "the real world, selling real products" for now. “We are not interested in selling virtual sneakers for 10 euros. We’re not into that,” said Mr. Arnault who cautioned of the potential for speculative bubbles arising from the pursuit of metaverse opportunities going forward.