Lacoste is floating its first NFTs as part of its project titled Undw3 — pronounced “underwater” — which launched Tuesday.
The NFTs will feature the image of a crocodile emerging from the water. Lacoste will sell 11,212 digital pieces in reference to the brand’s iconic polo shirt called L1212, priced at 0.08 Ethereum.
Undw3 is part of the brand’s plans to wade into Web3.
“Undw3 attests to our desire to accompany the phenomenon of decentralization driven by Web3 and bears witness to our ambitions in this area,” said chief brand officer Catherine Spindler.
She added that the project is “an experiential, interactive and co-creative universe, in the image of Lacoste’s creativity and avant-gardism.”
The brand is trying to create a “long-term collaborative community,” and is building a digital-physical bridge. Owners of the NFTs will have access to special physical products as well as a say in the designs.
“In a world more and more connected, we think the next big step is to add you to our core team,” the brand wrote in a series of tweets. “By owning a part of the Lacoste experience, you will join the Lacoste family and will have your word to say on our future.” They promised more information in the weeks to come.
It’s part of the brand’s plans to diversify its customer collaboration, after launching a Discord server earlier this month. The brand waded into Web3 with its “Croco Island” project in collaboration with Minecraft in March.
The launch of the NFTs on the Ethereum coin comes amid a major shakeup in the crypto currency markets. Ethereum has fallen about 70 percent from its peak and was trading just below $1,200 on Tuesday, making the Lacoste NFTs sell for roughly $100.