Lacoste, a French fashion brand dives into NFT

Lacoste, a French fashion brand, has launched a collection of non-fungible tokens (NFTs) in an effort to build an online community and engage customers in a new way.

Lacoste dives into NFT

The release comes just a week after the brand opened a Discord server, which received 30,000 subscribers in the first two days, according to a corporate statement.

The amount of NFTs in the release, 11,212, correspond to the brand's characteristic polo shirt, L1212. These will be available for 0.08 ETH.

The project, dubbed UNDW3 (pronounced "underwater"), would provide collectors of NFTs with access to a "long-term collaborative network," according to a press release from Lacoste.

The release states,

"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."

Despite the recent drop in the floor pricing of the most popular NFT collections and the general volatility in the crypto market, fashion brands have continued to experiment with crypto and web3 initiatives.

Farfetch, a fashion firm, revealed last week that it has begun to accept cryptocurrency payments, following the lead of other companies such as Gucci, Tag Heuer, and Off White.

Balenciaga will begin accepting cryptocurrency at both its physical stores and its US website.