With the introduction of Undw3, Lacoste is set to enable its DAO members to actively participate in creative processes.

The fashion giant Lacoste has rolled out the Undw3 NFT initiative, which grants holders a ticket to join the Lacoste DAO. This community will engage in exclusive Lacoste Underwater projects and enjoy privileged access to unique merchandise.

The name Undw3 is a clever twist on 'underwater', symbolizing the brand’s connection to Web3 and highlighting the crocodile, its signature logo. As noted in Lacoste's Twitter bio, ‘A new crocodile is surfacing. Join the 3.0 family and experience UNDW3 together,’ showcasing their commitment to building within the Web3 landscape.

Launched on June 14, the collection of 11,212 Lacoste NFTs sold out almost instantly at a price of 0.08 ETH each, indicating high demand. Currently, on the resale platform OpenSea, the lowest listing is 0.245 ETH, and the Undw3 collection has successfully generated 815 ETH, equating to nearly $899,271. price Unlike many digital collectibles within the fashion industry, Lacoste’s NFTs serve a functional purpose. Each NFT shows the same animated image of a crocodile breaking the surface of the water, acting more as an access pass than mere digital art. With this NFT project, Lacoste seeks to strengthen its connection with fans, giving them a voice in the brand's future, opportunities to purchase personalized items, access to exclusive events, and an active role in the creative journey. As Catherine Spindler, Lacoste’s chief brand officer, puts it, 'Undw3 reflects our intention to embrace the decentralization movement fueled by Web3 and highlights our aspirations within this new frontier.'

Despite the excitement, the project has stirred some debate. A number of users have expressed concerns regarding the perceived value of joining, feeling that certain benefits may not justify the investment. While the detailed roadmap for the Lacoste NFT project is still being finalized, further benefits are expected to be revealed in the coming weeks.

So essentially, I’d get your creative ideas for free with my NFT purchase? But then I’d still have to pay for the customized clothing I design myself? And I need to show up for meetings? I’m not really seeing how this is advantageous for me… said — Off-Key Magazine™️ (@OffKeyMagazine)

Lacoste first ventured into the digital realm in March with its 'Croco Island' initiative developed in partnership with Minecraft. As for Lacoste’s ambitions within the Metaverse and virtual reality, the company remains steadfast regardless of market fluctuations.

The creators of the Bored Ape Yacht Club have successfully secured $450 million to fund their ambitious Metaverse project. plans It’s crucial to highlight that the details shared on this page do not constitute legal, tax, investment, financial, or any other type of professional advice. It's essential to invest only what you can afford to lose and consult with a financial advisor if you have any uncertainties. For additional details, we recommend checking the terms and conditions along with the support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate, unbiased journalism, but please note that market conditions can shift unpredictably.

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• Agne is a journalist passionate about reporting on the latest innovations and trends in the metaverse, AI, and Web3 sectors for Metaverse Post. Driven by her love of storytelling, she has conducted numerous interviews with leaders in these fields, always on the lookout for captivating narratives. Agne holds a Bachelor's degree in literature and possesses significant experience in writing a diverse array of topics, including travel, art, and culture. Additionally, she has volunteered as an editor at an animal rights organization, promoting awareness about animal welfare issues. You can reach out to her on social media.
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