Lacoste Reveals Digital Universe
Lacoste, a French clothing company, unveiled its newest foray into the Web3 market on Thursday and made a huge announcement. The business unveiled a gamified ecosystem designed to reward token holders for using it and encourage user participation through NFT-related benefits. This creative strategy builds upon Lacoste’s prior Web3 campaign, UNDW3, which featured profile image NFTs with crocodile themes.
Now, owners of UNDW3 tokens can link their digital wallets to the recently established UNDW3 webpage. Through this connection, they can participate in a range of fun activities like video game missions, creative competitions, and Lacoste-facilitated interactive talks.
Users that actively participate in these events and do well can accrue points on their UNDW3 card, which is connected to their wallet and a Discord account. According to Lacoste, users that get more points have NFTs that are more rare, which raises the asset’s worth.
The floor price of UNDW3 NFTs, which was initially set at 0.08 ETH per unit last year, has since decreased to 0.0294 ETH, or just over $54 at the time of writing. Lacoste, on the other hand, wants to create an enduring digital destination that encourages closer connections with its clients and anyone looking for an immersive experience within the brand’s ecosystem.
The vice CEO of Lacoste, Catherine Spindler, emphasised the company’s long-term goals, which go beyond passing NFT trends and the metaverse. According to Spindler, blockchain technology can accelerate the development of a more inclusive and engaging digital space. Lacoste wants to encourage customers to engage in the brand’s creative process while rewarding producers and developing horizontal ties with them.
The UNDW3 experience will be delivered through missions played on Discord and Lacoste’s special website, which will be separated into season-long episodes and monthly chapters with a certain subject. The top 200 engaged users will get awards at the end of each season. Five chapters make up the first season of UNDW3, which is anticipated to end in October.
The strategy used by Lacoste deviates from contemporary Web3 tactics used by other luxury and fashion firms. Lacoste is doubling down on gamified experiences to appeal to a wider audience, while competitors have concentrated on rewarding unique products and customised events to a small number of elite clients. Notably, Balmain introduced an on-chain membership programme late last year that catered to high-impact clientele, and Louis Vuitton recently sold $41,000 NFTs that gave access to unique physical products and personalised experiences.
Lacoste is positioned itself as a leader at the nexus of fashion, blockchain technology, and interactive digital experiences with their recently launched gamified environment. By providing NFT-related incentives, the company hopes to increase customer interaction and build enduring relationships by asking people to actively influence the direction of the Lacoste brand within this immersive digital environment.
The launch of Lacoste’s token-gated, gamified environment is an important development for the fashion industry’s digital integration. Lacoste wants to build a dynamic and engaging relationship with its customers by utilising the power of blockchain technology and NFTs. This action fits in with the general trend of brands adopting Web3 initiatives to produce more interesting and inclusive experiences.
Lacoste invites visitors to take part in imaginative competitions, video game adventures, and interactive discussions through the UNDW3 web. The brand hopes to appeal to a wide range of interests and preferences by providing these varied activities, guaranteeing that people may meaningfully interact with the ecosystem. Users not only raise the value of their assets as they rack up points and make their NFTs rarer, but they also feel a feeling of success and appreciation within the Lacoste community.
Lacoste’s strategy promotes a mass-appeal philosophy in contrast to the exclusive and elitist approach used by several premium brands in the Web3 area. Lacoste aims to democratise access to their digital universe by concentrating on attracting thousands of users into their ecosystem. This strategy increases the brand’s relationship with customers who would have previously felt excluded from such immersive experiences as well as cultivates a wider and more varied community.
Lacoste’s UNDW3 adventure is expected to be a developing and dynamic endeavour as it progresses across several seasons and chapters. Lacoste has established itself as a market leader by embracing gamification and tokenization and showcasing its readiness to explore and adapt to cutting-edge technologies. By introducing this gamified ecosystem, Lacoste creates a model for other fashion companies to follow, encouraging greater customer participation and meaningful connections in the age of the internet.
What role does NFT play in the digital world?
NFTs are digital depictions of assets; they can also represent actual objects, such works of art or real estate. Some users believe that by tokenizing tangible real-world goods in this way, it will be easier to buy, sell, and trade them. It may also make fraud less likely.
How much data can an NFT hold?
The maximum storage request size per individual upload at NFT. Storage is 31 GiB! A single file or a directory of files may be uploaded as part of each upload. If you’re utilising the HTTP API, you’ll have to manually divide files larger than 100MB.
What role does NFT play in the digital world?
NFTs are digital representations of assets, and they can also represent things that exist in the actual world, including art and real estate. Some users believe that by tokenizing physical real-world goods in this way, the buying, selling, and trading of those assets will be more efficient, and there may even be less chance of fraud.