The market capitalization of Ether (ETH, cryptocurrency of Ethereum blockchain network) has surpassed that of LVMH. The fact that Bitcoin's market capitalization, both historically and in terms of volume, will soon become the largest in the tech world, surpassing the capitalization of any corporation, be it Apple, Microsoft, Amazon, Tesla, or Google, is beyond doubt. Bitcoin represents the gold of the new decentralized economy, the financial foundation of the metaverse.
In contrast, Ethereum, being much younger, has legal and non-anonymous founders. Its initiator and co-founder, Vitalik Buterin, is a driving force behind the process of financial decentralization. Ethereum, as a cryptocurrency within the Ethereum blockchain network, was launched exactly 10 years ago, in 2014.
Ether holds the second-largest market capitalization among cryptocurrencies, following Bitcoin. Ethereum was conceptualized in 2013 by programmer Vitalik Buterin, and it officially went live on July 30, 2015. Ethereum allows the deployment of permanent and immutable decentralized applications, enabling users to interact with them. It has played a significant role in the development of decentralized finance (DeFi) applications and the creation and exchange of non-fungible tokens (NFTs).
On the other hand, LVMH is a French multinational conglomerate specializing in luxury goods. It was formed in 1987 through the merger of Louis Vuitton and Moët Hennessy. LVMH focuses on traditional industries such as fashion, accessories, and alcoholic beverages.
The differences between these two assets extend beyond their financial aspects. While Ethereum serves as the foundation for financial and creative technologies, LVMH is deeply rooted in traditional industries like fashion, accessories, and alcohol. The strategies employed by these two entities are fundamentally opposed, with LVMH pursuing the absorption of highly volatile businesses, enforcing strict centralization, and consolidating them under a unified share. In contrast, Ethereum is built on a strategy and trend toward complete decentralization of business and the active involvement of its participants.
The old fashion system is in crisis, not only financially but also in terms of its foundational structure. The new fashion economy, based on direct ownership and the creation of new fashion worlds on the network, operates on economic principles distinct from those in the old analog fashion. This paradigm shift is a subject worthy of separate exploration.