June 30, 2023

Lacoste 🐊 Uses Web3 Like Every Brand Is Supposed To

GM DOers! 😎

Remember when Nike partnered with EA Sports and teased that dotSWOOSH NFTs would be integrated into EA's games earlier this month? That was massive, right? 

Back then, we predicted that it would push other big names to dive into the NFT and web3 pool. 🏊‍♂️

And guess what? We were spot on! 👌 Just in the last 25 days, we've seen:

Lacoste dropped 11,212 profile pic NFTs in June of 2022 and they're now taking it to the next level by creating a digital playground for their holders. 🎮🎢 

All of us here at Web3 Academy are super stoked about this. So, let's jump into what's cooking at Lacoste! 

FYI – We’re giving away a Lacoste NFT to a lucky winner. Make sure you read until the end to find out how to enter for a chance to win. 👇

👉 Lens Protocol: The Future of Social Media

Decentralized social media finally allows creators to own their content, data and followers. That’s why we choose to build part of our media platform on Lens Protocol.

A TL;DR On Lacoste’s Web3 Journey Thus Far

Lacoste first dipped their toes into web3 in June 2022, with the release of their 11,212 UNDW3 Cards, which could be minted for 0.08 ETH a piece (under $100).

The utility of these cards was unclear to begin with. However, holders got rewarded in September 2022 when Lacoste airdropped a PFP NFT to every UNDW3 Card holder. 

The art features their iconic crocodile 🐊 and the art is pretty sweet, I have to admit!

Apart from this airdrop, owners of these cards received access to exclusive merchandise and in-person community events. 

However, the project saw pretty much a flat curve after their airdrop, with many thinking, ‘this is it’. 📉

But now, Lacoste is revamping their entire web3 approach and we’re looking forward to seeing the outcome. Anyway, here’s what they’re planning.

Lacoste’s Latest Moves: The UNDW3 Cards

Initially, the UNDW3 Cards had little to no utility. But Lacoste surprises us by transforming these cards into passports for their ever-evolving ecosystem!

Let's walk through the 7 innovative features of these cards:

  1. Community Engagement: These UNDW3 Cards are now mirrors of your participation and interaction within the Lacoste community. They're your identity, your scorecard, your VIP pass all in one! 🎫

  2. Access to the UNDW3 Site: With your wallet connected, you'll gain access to a dedicated UNDW3 site. Here, you can dive into creative sessions, competitive contests, immersive video games, and spark up exciting interactive conversations! 🎨🕹️

  3. Gamified Experience: The Lacoste ecosystem turns playful with a points system. You earn points by participating in activities, and these points accumulate on your UNDW3 Card, gamifying your brand interaction. 🎮

  4. Competitive Rarity: The more points you rack up, the rarer – and potentially more valuable – your NFT becomes. This incentivizes competition, with users vying for top spots on the leaderboard. 🏆

  5. Seasons and Chapters: The UNDW3 experience unfolds across distinct "Seasons" and "Chapters," each bringing a unique theme and set of activities. 📖

  6. Seasonal Rewards: The top 200 most engaged users by the end of a season will receive extra rewards, making the experience even more thrilling. 🎁

  7. Point Earning Activities: Your activities and interactions are tracked and rewarded. Earn points by joining conversations, solving quests, and co-creating content! 🗣️🕵️‍♂️🎨

In a nutshell, Lacoste is curating a cool and fun fan-centric experience, allowing their community to participate in the brand's evolution and potentially increase the value of their NFTs along the way. 

Kudos to the croc. 🐊

I bet you want to win that free Lacoste NFT now. 😏 Keep scrolling ⏬

🤝 Thanks to our trusted exchange partner, BYDFi.

We believe that we’re in the early stages of a bull run and there’s no better time to buy crypto. This is when you should be practising monthly dollar cost averaging into strong network tokens like Ethereum and Bitcoin. 💪

And if you’re buying it’s important to do so with a licensed and reputable exchange. That’s why we recommend using BYDFi. 🚀

Wrapping Up: What Do We Make Of This?

TL;DR: It’s a good move by Lacoste. 💪

Certainly a better move than Azuki’s playbook of airdropping derivative NFT after derivative NFT. 😅

Why? Because Lacoste sees NFTs as tools to grow their community (and business). 🧰

They incentivize and reward users based on their contributions and track everything onchain (which is a much more effective way than other web2 tracking methods).

Furthermore, we love the fact that they’re promoting this initiative on their main Twitter profile (1M followers), and aren’t hiding behind some alternative account.

To be clear, they do have an alternative account but they’re not exclusive to it, like Porsche or Mercedes for instance. 

Lacoste's approach is quite ingenious. 

They highlight the perks for their fans on their main Twitter account, doing so without any heavy web3 jargon. Then, they dive into the nitty-gritty details on their alternative account, which appeals to web3-savvy folks. 

In essence, they strike a balance that satisfies both audiences – the web3 natives and their mainstream followers – ensuring they don't confuse their primary audience. Way to go! 🔥

Another point we wanted to make is the low barrier to entry for anyone into the Lacoste community.

Initially, the mint was 0.08 ETH (under $100) and it’s still cheap to get in on the action. 

And we love that. It’s what every brand should do! Either give away these NFTs for free (Nike style) or have a mint that’s affordable for your fans (Lacoste style).

With all of that said, we’re excited for Lacoste’s journey in web3! Their IRL brand presence is exquisite and they’re the right type of brand to integrate web3 tools into their marketing endeavors.

But keep in mind that long-term, this is all it is – marketing. We don’t see these UNDW3 Passes and Croc PFPs being worth thousands of dollars (nor should they be worth this much). They’re simply the gateway for Lacoste fans to interact with their favorite brand.

And that’s how it’s supposed to be and how EVERY brand should approach web3.

As we draw to a close, we'd love to invite you to actively engage with the Lacoste web3 ecosystem (NOTE: THIS IS NOT A SPONSORSHIP).

Our mission at Web3 Academy is to get you DOing in the web3 space, so here's a chance to win a Lacoste NFT! 🥳

👉 To join the fray, simply reply to this email with a good ol' 'GM' and your ENS/wallet address. 📧

Boost your chance of winning by telling us WHY you want this NFT!

The winner will receive the NFT by Monday and we’ll announce the winner in Monday’s newsletter!

Post-publication edits: Reading this on Substack? Please go to your email inbox and reply to the newsletter we sent over to you.

If you weren’t a free subscriber before today, we’re sorry to inform you that you’ve missed out. To participate in future giveaways, make sure you subscribe (it’s free).

Thanks for reading. And remember, you're strong, you’re powerful, you’re alpha! ❤️

See you soon. ✌️

Disclaimer: This article is for informational purposes only and not financial advice. Conduct your own research and consult a financial advisor before making investment decisions or taking any action based on the content.