Lacoste is floating its first NFTs as part of its project called Underva 3 — pronounced “underwater” — which launched Tuesday.
The NFT will project an image of a crocodile emerging from the water. Lacoste will sell 11,212 digital pieces, called L1212, worth 0.08 Ethereum, in reference to the brand’s iconic polo shirt.
Undw3 is part of the brand’s plans to foray into Web3.
Katherine Spindler, Chief Brand Officer, said, “Undw3 testifies to our desire with the Web3-powered decentralization event and bears witness to our ambitions in this area.”
He added that the project is “an experiential, interactive and co-creative universe in the image of Lacoste’s creativity and avant-gardeism.”
The brand is trying to build a “long-term collaborative community” and building a digital-physical bridge. NFT owners will have access to exclusive physical products as well as a say in the design.
“In a more connected world, we think the next big step is adding you to our core team,” the brand wrote in a series of tweets. “By owning a part of the Lacoste experience, you will be joining the Lacoste family and have your say about our future.” He promised more information in the coming weeks.
This is part of the brand’s plan to diversify its customer support, after launching a Discord server earlier this month. In March the brand entered Web3 with its “Croco Island” project in collaboration with Minecraft.
The launch of NFT on Ethereum coin comes amid a major setback in the crypto currency markets. Ethereum is down nearly 70 percent from its peak and was trading below $1,200 on Tuesday, causing Lacoste NFTs to sell for around $100.
Originally published at Pen 18
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