Lacoste Uses NFT to Launch Innovative Blockchain Powered Loyalty Program July 2, 2023 July 2, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 2, 2023 by Kelly Cromley

Lacoste Uses NFT to Launch Innovative Blockchain Powered Loyalty Program

Lacoste, the renowned French sportswear brand, has made a daring move by introducing the Undw3 (Underwater) card, an NFT that serves as a testament to its unwavering dedication to Web3 technology. The utilization of blockchain in this groundbreaking loyalty program serves as a means to reward individuals who actively engage with the brand, exemplifying Lacoste’s seamless integration of Web3 technology into their loyalty strategy and highlighting the fashion industry’s increasing trust and reliance on this nascent technological advancement.

The Undw3 card offers users the ability to link their digital wallets to a specialized online platform, providing them with a range of diverse experiences and opportunities to accumulate rewards. Through active involvement in exclusive events and membership in restricted Discord channels, individuals who possess the brand’s products gain the opportunity to partake in meaningful dialogues with the brand itself, the creative studio, and esteemed sports ambassadors. This engagement allows them to contribute valuable insights and provide constructive feedback. Furthermore, users have the opportunity to engage in collaborative efforts with Lacoste to develop their own unique products. They can also take part in interactive challenges designed to enhance the scarcity of their non-fungible token (NFT), consequently elevating its worth and positioning themselves higher on the prestigious Undw3 leaderboard. As a result, participants can expect to receive more substantial rewards for their achievements.

According to Benjamin Blamoutier, the Vice President of Global Brand and Customer Experience at Lacoste, the Undw3 card serves as a means for the brand to acknowledge and reward various types of relationships with their audience that extend beyond simple transactions. The speaker highlights the capability of blockchain technology in facilitating the integration of activity, creativity, and conversation with utility and rewards for Lacoste. This accomplishment was previously deemed highly challenging to accomplish using the infrastructure of Web2.

The introduction of the Undw3 card marks a significant milestone in Lacoste’s ongoing Web3 endeavors, which were initially set in motion with the unveiling of the brand’s 11,212 Undw3 Genesis Pass NFTs in June 2022. The holders of Genesis Pass were granted entry to Lacoste’s Undw3 Web3 initiative, along with an accompanying Discord community. Within this platform, they were able to actively participate in co-creation endeavors and provide valuable insights for product design. In addition, they were granted access to exclusive merchandise and were bestowed with Lacoste Profile Picture (PFP) non-fungible tokens (NFTs). The current Genesis non-fungible tokens (NFTs) will undergo an automatic conversion process, resulting in the transformation into Undw3 cards.

During a recent interview, Blamoutier discussed Lacoste’s strategic approach to the Undw3 project. Lacoste demonstrated meticulous analysis of past models, placing strong emphasis on transparency, communication, and creativity as key priorities. The individual underscores the significance of organic growth as opposed to relying on hype and marketing efforts within the Web3 industry. They assert that this approach serves as the foundation for their brand’s Web3 project and informs their strategies for engaging with customers on a global scale.

The incorporation of the Undw3 card signifies a novel approach by Lacoste to engage with its community. The rewards available through the card are quite significant, as the individual who achieves the highest rank on the leaderboard will be awarded a four-night excursion for two to Paris. This exciting package encompasses round-trip airfare, accommodations, meals, and an exclusive opportunity to visit the esteemed Lacoste factory and indulge in a unique shopping experience. The participant who secures the second position will be granted the exclusive privilege to curate their very own Lacoste creation. Additionally, they will be rewarded with a remarkable two-night sojourn in the enchanting city of Paris. On the other hand, the participant who attains the third rank will be actively engaged in a captivating Lacoste Undw3 campaign. This remarkable opportunity will encompass a luxurious one-night accommodation at a prestigious hotel in Paris, along with a flight for two individuals. Participants who are ranked from fourth to tenth will be granted the opportunity to enjoy a tailor-made shopping experience, while participants who fall below the top ten will be provided with vouchers that can be redeemed for online purchases. This voucher offer extends to the 200th participant.

The incorporation of Web3 technology by Lacoste, along with the introduction of the Undw3 card, serves as a prime illustration of the fashion industry’s dedication to delving into the possibilities presented by this emerging domain. Prominent entities like Louis Vuitton and Nike have demonstrated noteworthy advancements in their Web3 strategies, incorporating non-fungible tokens (NFTs) and adopting blockchain technology. According to Blamoutier, the primary objective of Undw3 is not solely focused on exploring gamified mechanics but also on establishing a rewarding model that effectively engages the community in forthcoming projects. The speaker underscores the significance of Web3 as an integral component of Lacoste’s worldwide membership and customer value proposition, highlighting their commitment to allocating both time and resources towards its development in the foreseeable future.

Lacoste is strategically utilizing gaming and digital fashion as a means to strengthen its position within the Web3 domain. By adopting blockchain-based loyalty through the Undw3 card NFT, the brand acknowledges the revolutionary capabilities of Web3 technology. Lacoste recognizes that the key to fostering customer engagement in the future lies in establishing significant connections and encouraging active participation.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.