Lacoste, a French fashion brand, has introduced a collection of non-fungible tokens (NFTs) in order to build an online community and communicate with customers in a new way, according to the company.
The dip comes barely a week after the company opened a Discord server, which received 30,000 subscribers in the first two days, according to the company.
The amount of NFTs in the release, 11,212, corresponds to the brand’s L1212 iconic polo shirt. These will be available for purchase for 0.08 ETH (about $97).
In a press statement, Lacoste stated that the project, dubbed UNDW3 (pronounced “underwater”), will provide collectors of NFTs with access to a “long-term collaborative network.”
“In the world of the crocodile, collectors will have access to a pioneering ecosystem and digital, physical, and experiential rewards, such as co-created products exclusively for them,” according to the press statement.
Despite the recent drop in floor pricing of the most popular NFT collections and the instability in the crypto market in general, fashion labels have continued to experiment with crypto and web3 initiatives.