Lacoste is the latest brand to jump into Web3 with the launch of UNDW3 (pronounced underwater). This universe will allow the community with the emblematic crocodile to collectively and actively participate in the company’s Fashion-Sport vision and push its limits even further.
The accessible luxury brand founded in 1933 by tennis player René Lacoste aims to renew the customer and brand experience with UNDW3 by allowing community members to take ownership of Lacoste in a new creative way and improve the consumer experience.
“UNDW3 attests to our desire to accompany the phenomenon of decentralization driven by Web3 and bears witness to our ambitions in this area as well as to the power of our brand: to bring together our communities and connect cultures around the crocodile, a true rallying sign throughout the world, by proposing an experiential, interactive and co-creative universe, in the image of Lacoste’s creativity and avant-gardism,” said Catherine Spindler, Chief Brand Officer of Lacoste.
Lacoste has already been gearing towards this co-creative future with its collaboration with the popular video game series Minecraft, which saw the first immersive projection of Lacoste in a virtual world, Croco Island.
The continuing growth of the virtual world has been spurred in the past couple of years by world events, notably the COVID-19 pandemic and the associated lockdowns. Now, metaverse and Web3, bursting with potential, allow brands to create communities of passionate users.
NFT drop is here
After launching a dedicated discord server earlier last week to keep its community well informed of every real-time innovation in the Lacoste universe in Web3, which attracted thousands of subscribers in just 2-days, the company is now hosting its first NFT drop.
Only a limited 11,212 pieces, in reference to the iconic L1212 polo shirt invented by René Lacoste, will be up for sale on June 14. These NFTs that feature the crocodile image emerging from the water will be sold at 0.08 ETH. But make sure you have at least 0.1 ETH in your digital wallet as you would be paying gas fees on the Ethereum network, which fluctuates based on network activity.
To mint the Lacoste NFT, you can either become part of the Lacoste List, which you can achieve by being active in the discord community, following the company’s Web3 ecosystem, or winning at the premint.xyz raffle.
These methods allow each wallet to only mint up to 1 NFT so that each user has the chance to have an NFT and become a part of the Lacoste brand. Those on the Lacoste List have the advantage of minting up to 2 NFTs between June 14, 12:12 pm CET to June 15, 11:00 am CET.
Another way to get your hands on these NFTs is through the public sale on popular NFT marketplaces OpenSea or LooksRare, where you are allowed to mint up to 3 NFTs.
By minting a Lacoste NFT, you become a member of the UNDW3 community, which will grant you exclusive access to products and content created by the community for the community.
These NFTs will give holders exclusive access to the brand’s Web3 universe, which is envisioned as a long-term collaborative community. NFT holders will be able to access a pioneering ecosystem and gain digital as well as physical and experiential benefits in the world of the crocodile.
The brand’s mission here is to connect different communities and cultures, bringing together NFTs, pop culture enthusiasts, and Lacoste fans.
However, this is just the first phase of the company’s development in Web3 and will continue over the next few seasons.
Brand rushing in the metaverse era
Over the past couple of years, NFTs saw a rise in popularity as they allowed users to now own digital assets as rare collectibles with an opportunity to flip for profit. But they hold more value than just a monetization opportunity. NFTs are an excellent way for brands and companies to build a community and connect directly with their consumers to boost awareness, build community, give back, and promote customer loyalty.
Lacoste is not alone in leveraging the power of blockchain technology, NFT, and Web3. Over the past year we’ve seen Burberry, Dolce & Gabbana, Louis Vuitton, Coca-Cola, McDonald’s, Asics, Gucci, Nike, Taco Bell, Campbell’s, Estée Lauder, Mattel’s Hot Wheels, Warner Bros, Ray-Ban, Original Penguin, NFL, and many more have launched their NFTs.
With the way NFTs have been integrated into brand and marketing strategies on a broad scale, they can very well be a continued trend for brands entering Web3. Crypto, NFTs, metaverse, and Web3 are more than just a marketing campaign. They offer an avenue to engage consumers and give them the power to own and direct the brand they love.