Lacoste’s novel game with NFT: something brands must pay attention to!

Published: July 05, 2023

min read

Industry leaders are racing to make long-lasting impressions among their target market by striving to reshape the communication landscape between their customers and themselves by bringing out the digital revolution.

Especially in recent years, brands have been fiercely exploring ways to use web3 to stand out from their competition and engage with customers like never before, as it can bring a unique digital experience.

With the introduction of NFTs, the fashion industry, in particular, experienced a new wave of innovation and development.

Recently, French clothing brand Lacoste enhanced its digital innovation game by giving its emblematic digital crocodiles an exciting new life in a captivating gaming experience called 'The Mission'.

To put it in detail, last year Lacoste debuted UNDW3 (pronounced "underwater"), a Web3 initiative built on the unveiling of 11,212 profile picture NFTs playing on the brand's crocodile-dominated motif.

The UNDW3 holders had advantages over perks such as limited edition merchandise and in-person community gatherings, and this recent announcement significantly expands on that programme.

For this new Mission, Lacoste allows holders of UNDW3 cards to gain access to The Mission website, which serves as Lacoste's entrance to the Web3 universe. Users can then choose and take on offered quests that include community participation via the UNDW3 social channels.

By passing missions, users will earn points and move up the leader boards, expanding the value of their UNDW3 cards. Top performers will get digital vouchers, and the player with the highest ranking at the end of the first season will earn an all-expenses-paid Lacoste VIP experience in Paris.

What does this update mean for chief innovation officers?

With a range of new features, Web3 is clearly changing the playing field for brands and allowing them to serve their consumers in a unique way.

Especially since the doors opened for non-fungible tokens and it became a craze among users, big names in the industry such as Nike, Coca-Cola, Starbucks, and numerous others have jumped on this NFT bandwagon and are fiercely building a community around it.

And now, Lacoste’s creative strategy of turning its NFT into digital cards sounds intuitive and proves the Web3 is indeed a goldmine of innovation, and there is a lot more to dig out of it.

Here are the few benefits we believe brands can reap from this innovative move in Web 3.

The gamified aspect of this new initiative will possibly attract massive users towards the brand and encourage them to actively participate and immerse themselves in the brand's offerings. As completing missions will give users a sense of accomplishment and rewards, it will help brands create a positive emotional connection with them. This, in turn, can lead to increased brand loyalty and repeat interactions.
Lacoste can capture the attention of vast, high-value audiences by launching this creative NFT use case, as NFTs have already exploded in popularity and are gaining traction among young generations. The novelty and uniqueness of NFTs can create significant attention on social media and other platforms as people share their experiences and accomplishments with friends and followers. This way, the brand's visibility will increase organically.
As users’ interactions using NFT can provide valuable data about their preferences and interests, this new initiative will help brands using these kinds of strategies gain valuable insights into customer segments and engagement patterns. As a result, brands can use this data to enhance their marketing strategies, personalise offerings, and improve products or services.
By embracing NFTs in creative ways like this, brands can easily differentiate themselves from competitors and lead the race. Besides, it will also help the brand position itself as innovative and attract trend-conscious customers who are drawn to novel experiences. As this new initiative of Lacoste is designed to regularly introduce new quests and events over a long period of time to maintain interest among users, it can ensure customer engagement will be ongoing, which can foster a loyal and dedicated user base.

In a nutshell, Lacoste's new initiative is extremely intriguing and novel, and this innovative strategy will benefit the brand in a variety of ways. In our opinion, the gradual acceptance and adoption of these immersive experiences will bring metaverse-based experiences closer than expected, to the benefit of both businesses and consumers.

Author

Pete Johnson

Pete is a MarTech expert guru with a knack for getting diverse MarTech solutions work for brands. He has a wealth of experience in working with a plethora of MarTech platforms that dive Personalized Omnichannel Experiences. When he's not at work, you can find him playing basketball or listening to jazz.