French fashion brand Lacoste is breaking new ground in the world of Non-Fungible Tokens (NFTs) by expanding the utility of its UNDW3 NFT collection. Initially released in June 2022, the UNDW3 collection is now being enhanced with a Web3-based loyalty program, offering community members exciting rewards and opportunities for co-creation. This article explores Lacoste's venture into the NFT space, how it's fostering a dynamic and inclusive digital realm, and the intersection of fashion and blockchain technology.
The UNDW3 NFT Collection
The UNDW3 collection comprises 11,212 unique "Genesis Pass" NFTs, playfully pronounced as "underwater." These NFTs were minted for 0.08 ETH each, roughly equivalent to $95 at the time of their release. The Genesis Pass granted holders access to exclusive limited-edition merchandise and exclusive events, providing a unique and immersive experience for Lacoste's dedicated community.
The Evolution of UNDW3 NFTs
Lacoste has recently introduced a groundbreaking feature, allowing Genesis Pass holders to convert their NFTs into UNDW3 Cards. By connecting their wallets to a dedicated site, UNDW3 Cardholders can access an array of interactive features. These include creative sessions, contests, video games, and engaging conversations, fostering a vibrant and dynamic online community.
Rewards for Active Participation
To encourage active participation within the NFT ecosystem, Lacoste's dedicated site rewards users with points for their engagement. These points contribute to a leaderboard, elevating the rarity and prestige of their NFTs. The reward system aims to strengthen the sense of community among Lacoste's loyal supporters while recognizing their contributions.
Lacoste's Vision for Web3
Catherine Spindler, Deputy CEO of Lacoste, emphasizes the brand's long-term Web3 vision and its commitment to exploring the potential of blockchain technology. The fashion brand sees blockchain as an accelerator, ushering in a more inclusive and experiential digital realm. By embracing co-creation and fostering horizontal relationships with customers, Lacoste invites its community to be part of the brand's creative process.
Fashion and Blockchain: An Exciting Intersection
Lacoste's expansion of its NFT ecosystem and the introduction of rewards and co-creation features demonstrate the brand's dedication to innovation and embracing the digital revolution. As other fashion brands delve into the NFT space, it becomes evident that the intersection of fashion and blockchain technology holds enormous potential for reshaping customer experiences and engagement in the digital age.
The Warner Music Group and Polygon Partnership
Lacoste's embrace of Web3 technology is part of a broader trend where brands across various industries are exploring the potential of blockchain and Web3. For instance, the Warner Music Group has partnered with Polygon, Ethereum's Layer 2 solution, to promote innovation that combines music and Web3. This collaboration aims to explore decentralized music production and distribution systems, ticketing solutions, and the integration of music with interactive technologies and games.
Lacoste's evolution of its NFT collection into a community-focused loyalty program is a testament to the brand's commitment to innovation and embracing cutting-edge technologies. The brand's Web3 vision creates an engaging and immersive digital realm, inviting its loyal community to co-create and interact. As fashion brands like Lacoste continue to explore the potential of NFTs and Web3, they redefine the future of customer engagement and brand loyalty rapidly.
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