French Apparel Brand Lacoste Jumps On The NFT Bandwagon With A New Collection

Popular French brand Lacoste plans to capitalize on the booming Web 3.0 and NFT industry with the release of an NFT or non-fungible token collection called "UNDW3" (pronounced as “underwater").

The French fashion brand will release the NFT collection with the aim of making a move toward Web 3.0 adoption, TheBlock reported. The firm also launched a new Discord server earlier this month, a platform where most NFT enthusiasts can be found.

"Collectors will be able to access a pioneering ecosystem and digital, physical, and experiential benefits in the world of the crocodile, such as co-created products exclusively for them," the firm said in a press statement.

The collection will include 11,212 NFTs, a number that directly refers to the Lacoste Classic Fit L.12.12 Polo Shirt. The price of each NFT has been set at 0.08 ETH ($97.74 as of 11:24 pm ET), as per CoinMarketCap.

However, it seems that this is not the only NFT collection that Lacoste has planned. According to the report, the firm stated that buying the NFTs will give users a chance to be a part of a “long-term collaborative community," hinting that this won't be the last collection from the firm.

Interestingly, this is not the firm's first journey in the world of Web 3.0 and NFTs. Lacoste had recently partnered with Minecraft to launch a virtual world (metaverse)-based game.

Lacoste's expansion in the world of NFTs comes at a time when multiple major firms like Gucci, Off White, and Nike are planning to do the same. Gucci recently revealed that it will accept cryptocurrency as payment in multiple stores in the U.S.