Clothing Brand Lacoste Forays Deeper Into Web3 Exploration, Brings NFT Rewards System

Interested holders of Lacoste’s last year’s NFTs will have to connect their digital wallets to a dedicated site to unlock these rewards.

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 30 June 2023 15:19 IST

Photo Credit: UNDW3 Website/ Lacoste

More fashion brands like Adidas, Tommy Hilfiger are onboarding the Web3 trend

Highlights

Lacoste is a French fashion brand
Lacoste will let its NFT holders ramp up their NFT rarity
Lacoste sees a long-term vision for more Web3 initiatives

Lacoste, a French designer brand that has been pro-Web3 for a while already, is stepping into deeper waters with its blockchain exploration. The company has decided to add more functionality to its NFT ecosystem, that it first brought to life in June 2022 with its UNDW3 collection. Lacoste wants to reward the holders of these 11,212 UNDW3 NFTs, which is what its new reward system is all about. The brand sees a long-term vision for integrating more Web3 elements to its operations and identity.

Lacoste wishes to let the holders of its ‘Genesis Pass' UNDW3 NFTs be treated with special creative sessions, video games, exclusive contests, as well as interactive conversations with fellow community members.

Interested holders of Lacoste's last year's NFTs will have to connect their digital wallets to a dedicated site, UNDW3.lacoste.com, to unlock these rewards.

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“Beyond the fleeting trends surrounding NFTs and the metaverse, we see blockchain as an accelerator, ushering in a more inclusive and experiential digital realm. By rewarding creators and fostering horizontal relationships with our customers, we invite them into our creative process,” Forbes quoted Lacoste deputy CEO Catherine Spindler as saying.

As the participators increase their activities on the rewards site, they'll earn leadership points and in-turn, enhance the rarity quotient of their NFTs.

“The holders of the Lacoste UNDW3 Card will have the mission to solve quests, engage with the brand, and unlock exclusive benefits that will only be accessible to Lacoste UNDW3 Card holders. Every week, raffles will be organised for all community members, with the opportunity to win exclusive rewards (merchandise, digital twins, etc.),” Lacoste's new website mentioned.

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The more a member engages with the brand, the more they will get a decision-making say in the future of the brand.

The @undw3_lacoste "missions" will take place on Discord as well as Lacoste's dedicated website, across seasons divided into month-long thematic chapters. The 200 most active users will be rewarded at the end of each season and conclude in October.
6/9:thread: pic.twitter.com/Bqw4uSN8SA
— Suay :large_orange_square: (@suaynft) June 29, 2023

In recent days, several fashion brands have taken their first steps into the metaverse and NFT arenas.

In March this year, Adidas, Tommy Hilfiger, and Vogue Digital took part in the Metaverse Fashion Week (MVFW) 2023. The virtual event was hosted by Decentraland, where over 60 fashion brands, both physical as well as digital native ones, showcased their spring collections on the digital runway.

To bridge the gap between digital and physical fashion, SYKY has initiated a one-year incubator programme that will help digital designers make improvements to their skills. The virtual fashion platform has onboarded the British Fashion Council, Vogue's creative editorial director Mark Guiducci, and Calvin Klein's chief marketing officer Jonathan Bottomley to be part of the mentor panel established by SYKY to assist its group of up-and-coming designers.

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Further reading: Cryptocurrency, Lacoste, Web3, NFTs, Crypto

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More