Lacoste expands NFT ecosystem with new rewards and co-creation feature

French fashion brand Lacoste has announced the expansion of its non-fungible token (NFT) ecosystem by introducing a rewards and co-creation feature for its UNDW3 community.

Lacoste made its initial foray into the world of web3 in June 2022 with the launch of the UNDW3 Genesis passes NFT collection, consisting of 11,212 unique tokens. These NFTs served as a gateway for community members to access exclusive limited-edition merchandise and in-person community events, providing an immersive and unique experience.

With each NFT initially minted at the cost of 0.08 ETH (approximately $95 at that time), Lacoste’s NFT holders received an additional surprise in September when the brand airdropped crocodile-themed profile pictures (PFPs). Lacoste had already teased that these NFTs would be part of an extraordinary, experiential, and co-creative universe.

As stated in a press release, the recent expansion of Lacoste’s Web3 universe offers Genesis Pass holders the opportunity to convert their NFTs into a UNDW3 card. By connecting their wallets to a dedicated website, these cardholders gain access to many features, including creative sessions, contests, video games, and interactive conversations.

As an added incentive, the platform rewards user activity on the site with points that contribute to a leaderboard, enhancing the rarity and prestige of the NFTs.

“Pioneering the concept of a dynamic NFT within our industry is a testament to our bold vision. Beyond the fleeting trends surrounding NFTs and the metaverse, we see blockchain as an accelerator, ushering in a more inclusive and experiential digital realm.”

Catherine Spindler, Deputy CEO of Lacoste

Lacoste has previously collaborated with the popular world-building platform Roblox, introducing digital clothing items and expanding its presence in the virtual realm.

Lacoste joins the ranks of other renowned fashion brands, including Nike, Adidas, Dolce & Gabbana, and Gucci, who have recently ventured into the NFT space. This trend highlights the increasing interest within the fashion industry in exploring the potential of NFTs and their ability to enhance brand engagement and customer experiences.