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Lacoste Transforms NFTs into a Community-centric Loyalty Program

Lacoste extends the usability of its UNDW3 NFT collection into a web3-based loyalty program, encouraging community engagement and rewards.

Lacoste Transforms NFTs into a Community-centric Loyalty Program

Lacoste, the well-known French fashion brand, is redefining the role of its UNDW3 NFT collection, initially launched in June 2022, by integrating a Web3-based loyalty program that rewards members and encourages co-creation.

Holders of one of Lacoste's 11,212 "Genesis Pass" UNDW3 (pronounced "underwater") NFTs now have the option to convert these digital tokens into an UNDW3 Card. By linking their wallets to a newly dedicated site, members can gain access to "creative sessions, contests, video games, and interactive discussions," as reported by CoinDesk. Further, activity on the site is rewarded, and the accumulated points enhance the cards with "new capabilities and powers," as per the UNDW3 website.

"Embark on an interactive UNDW3 journey and enrich your Lacoste UNDW3 Card," reads the UNDW3 website. "Every UNDW3 chapter is directly linked to your engagement. Prepare to solve quests, engage with Lacoste, and unlock exclusive UNDW3 benefits."

A year ago, Lacoste unveiled the UNDW3 collection of profile picture (PFP) NFTs along with "Genesis Passes" that offered holders access to limited-edition merchandise and exclusive events. At that time, the brand hinted at a future expansion, which has now come to fruition, positioning the NFTs as part of an "experiential, interactive, and co-creative universe."

"Our bold vision is reflected in our initiation of a dynamic NFT concept within our industry," stated Catherine Spindler, Deputy CEO of Lacoste. "Beyond the fleeting trends surrounding NFTs and the metaverse, we regard blockchain as a catalyst, ushering in a more inclusive and experiential digital realm. We invite our customers into our creative process by rewarding co-creators and cultivating horizontal relationships."

NFT-based interactive loyalty programs, like the one Lacoste is establishing, are gaining popularity. The underlying digital technologies provide the potential to engage with and involve communities in novel, more complex ways.

"The first NFT chapter revolved around digital scarcity, art, and collectibles. However, brands are now understanding that it's not merely about selling a product," explained Tareq Nazlawy, President of digital assets venture studio ScienceMagic.Studios. "It's an item people can hold, transforming them into stakeholders. It's a new link between a brand and a community member or even amongst community members, and it is associated with many aspects beyond just financial value."