French Fashion Giant Lacoste Launches NFT Collection

French fashion brand Lacoste has launched an NFT collection in an attempt to enter the Web3 space, which is expected to become an explosive trend in the future.

Lacoste’s NFT release event comes just a week after the famous fashion brand launched its own Discord server, and 30,000 people signed up in the first two days.

The project, dubbed UNDW3, will provide NFT collectors with access to Lacoste’s longstanding collaborative community. NFT holders can access many digital benefits, physical products, and experiences in the Web3 ecosystem that the brand is building.

The number of NFT UNDW3 in this launch will include 11,212 pieces, referring to a Lacoste L1212 signature polo t-shirt. They will be sold for 0.08 ETH (about $97).

However, UNDW3 is not Lacoste’s first foray into the virtual world. In the past, the company has partnered with the game Minecraft to promote in-game products. Lacoste even teased the community about the company’s ambition to expand into the metaverse in the latest NFT pitch.

It is unclear whether the current drop and general market turmoil will have any effect on the fashion industry’s wave of connections to the blockchain world. However, it is a sign that many fashion brands continue to experiment with their own crypto projects through the most popular form of NFT issuance.

Last week, fashion company Farfetch announced it was starting to accept cryptocurrency payments, following a series of moves from other companies such as Gucci, Tag Heuer, and Off White. In addition, another French fashion brand Balenciaga has also accepted Bitcoin and Ethereum for payments both at its brick-and-mortar stores as well as through its website in the United States.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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