Lacoste launches NFTs that give holders co-designing opportunities
Lacoste has officially launched its first NFTs as part of its project titled ‘Undw3’, pronounced ‘underwater’ on Tuesday. The project name alludes to the brand’s crocodile motif as the heritage label is repurposed to help Lacoste step into the Web3 space.
Lacoste’s first NFT collection will feature the brand’s emblematic crocodile emerging from the water.
The drop took place on June 14 through a website for UNDW3 and is already sold out. The NFTs will have an initial price of 0.08 Ethereum, limited to 11,212 pieces in reference to the brand’s iconic L1212, polo shirt crafted by Lacoste’s founder René Lacoste in 1993.
In addition, Lacoste hosted a NFT raffle event on the same website, which allowed 13,000 participants to join and a chance at winning one of the crocodile NFTs.
UNDW3 NFT holders will also have access to exclusive physical merchandise, designs and access to Lacoste’s Web3 universe, something the brand describes as ‘a long-term collaborative community’. More ‘digital, physical, and experiential benefits’ are also on its way, according to Lacoste. For now, UNDW3 exists as a space where Lacoste fans and creators interact.
‘Undw3 attests to our desire to accompany the phenomenon of decentralization driven by Web3 and bears witness to our ambitions in this area,’ said chief brand officer Catherine Spindler.
She added that the project is ‘an experiential, interactive and co-creative universe, in the image of Lacoste’s creativity and avant-gardism.’
As a preamble, UNDW3’s discord server was rolled out on June 6 prior to the NFT’s official launch, which has seen over 30,000 subscribers after just 48 hours after its launch.
With UNDW3, Lacoste aims to bridge the gap between physical and digital retail. The brand took to Twitter to write, ‘In a world more and more connected, we think the next big step is to add you to our core team. By owning a part of the Lacoste experience, you will join the Lacoste family and will have your word to say on our future.’ Lacoste promises UNDW3 NFT holders that in addition to having access to physical merchandise and perks will also have a say in the upcoming designs.
UNDW3 comes shortly after the brand’s first immersion into the Metaverse via a Lacoste-inspired island ‘Croco Island’ hosted by Minecraft in March 2022.