French clothing brand Lacoste made a significant announcement on Thursday, introducing its latest venture into the Web3 space. The company revealed a gamified ecosystem that is accessible only to token holders and aims to incentivize user participation through NFT-related perks. This innovative approach expands upon Lacoste’s previous Web3 initiative, UNDW3, which featured crocodile-themed profile picture NFTs.
UNDW3 token holders can now connect their crypto wallets to the newly launched UNDW3 portal. This connection grants them access to a variety of engaging activities, including creative contests, video game quests, and interactive conversations facilitated by Lacoste. By actively participating in these events and performing well, users can accumulate points on their UNDW3 card, which is linked to their wallet and a Discord account. As users amass more points, the rarity of their NFT increases, subsequently enhancing the asset’s value according to Lacoste.
Last year, UNDW3 NFTs were initially sold for 0.08 ETH each, but their floor price has since dropped to 0.0294 ETH, equivalent to slightly over $54 at present. However, Lacoste aims to establish a lasting digital destination that fosters deeper relationships with its customers and others who seek an immersive experience within the brand’s ecosystem.
Catherine Spindler, Lacoste’s deputy CEO, emphasized the company’s vision beyond the transient nature of NFT trends and the metaverse. Spindler sees blockchain technology as an accelerator that can create a more inclusive and experiential digital realm. Lacoste aims to reward creators and cultivate horizontal relationships with customers, inviting them to participate in the brand’s creative process.
The UNDW3 experience will unfold through missions conducted on Discord and Lacoste’s dedicated website, organized in season-long segments divided into month-long, themed chapters. At the conclusion of each season, the top 200 engaged users will receive rewards. The inaugural season of UNDW3, comprising five chapters, is expected to conclude in October.
Lacoste’s approach diverges from recent Web3 strategies employed by other luxury and fashion brands. While others have focused on rewarding exclusive merchandise and tailored events to a select group of elite customers, Lacoste is doubling down on gamified experiences to appeal to a wider audience. Notably, Louis Vuitton recently sold $41,000 NFTs that provided access to exclusive physical products and bespoke experiences, while Balmain launched an on-chain membership program catering to high-impact customers late last year.
With its newly unveiled gamified ecosystem, Lacoste is positioning itself as a frontrunner in the intersection of fashion, blockchain technology, and interactive digital experiences. By offering NFT-related incentives, the brand aims to foster engagement and create lasting connections with its customer base, inviting them to actively shape the future of the Lacoste brand within this immersive digital universe.
The introduction of Lacoste’s gamified, token-gated ecosystem marks a significant step for the fashion industry’s integration into the digital realm. By leveraging the power of blockchain technology and NFTs, Lacoste aims to establish a dynamic and interactive relationship with its customers. This move aligns with the broader trend of brands embracing Web3 initiatives to create more engaging and inclusive experiences.
Through the UNDW3 portal, Lacoste encourages users to participate in creative contests, video game quests, and interactive conversations. By offering these diverse activities, the brand seeks to cater to a wide range of interests and preferences, ensuring that users find meaningful ways to engage with the ecosystem. As users accumulate points and enhance the rarity of their NFTs, they not only increase the value of their assets but also feel a sense of accomplishment and recognition within the Lacoste community.
In contrast to the exclusive and elitist approach taken by some luxury brands in the Web3 space, Lacoste’s strategy embraces a mass-appeal mindset. By focusing on bringing thousands of users into their ecosystem, Lacoste seeks to democratize access to their digital universe. This approach not only cultivates a larger and more diverse community but also strengthens the brand’s connection with customers who may have previously felt excluded from such immersive experiences.
As Lacoste’s UNDW3 journey unfolds over multiple seasons and chapters, it promises to be an evolving and dynamic venture. By incorporating gamification and tokenization, Lacoste has positioned itself at the forefront of the industry, demonstrating its willingness to adapt and experiment with innovative technologies. With the launch of this gamified ecosystem, Lacoste sets a precedent for other fashion brands to explore similar avenues, fostering deeper engagement and meaningful relationships with their customers in the digital age.