Lacoste expands its NFT ecosystem with new rewards

30.06.2023

French fashion brand Lacoste on Thursday expanded its ecosystem of non-playable tokens (NFTs) by introducing a rewards and co-creation feature for its UNDW3 community.

Lacoste released its UNDW3 collection of 11,212 Profile Picture NFTs (PFPs) in June 2022, offering “Genesis Passes” to its community, while the retailer announced plans to expand Web3. By owning an NFT, the community had access to limited-edition merchandise and IRL community events.

Each NFT in the collection was minted for 0.08 ETH, or about $95 at the time. Crocodile-themed PFPs were issued to holders in September. Lacoste said at the time that the PFPs would be part of an “experimental, interactive and collaborative creative universe.”

According to the press release, the latest Lacoste Web3 universe extension will allow Genesis Pass holders to convert their NFTs to an UNDW3 card and connect their wallets to a dedicated site to access “creative sessions, contests, video games and interactive conversations.” The platform will also reward owners for activity on the site with points for which they can earn a spot on the leaderboard, which will “add rarity” to their NFT.

Lacoste has already taken steps to digitize its clothing, previously partnering with Roblox, a platform that creates worlds to offer digital clothing items. Other fashion brands such as Nike, Adidas, Dolce & Gabbana and Gucci have also recently expanded their NFT offerings.