In June, Lacoste launched a Undw3 card NFT that rewards consumer engagement. Holders connect their digital wallets to a token-gated website where they can access various experiences and earn rewards. They can also enter locked Discord channels and attend events where they can participate in discussions with the brand, creative studio and sports ambassadors to provide insights and feedback, as well as co-create Lacoste products.
Key takeaway: Community input is valuable. Lacoste’s dedicated site offers a gamified, rewards-based means of community engagement, encouraging consumers to vocalise what they want to see from the brand. It’s smart business: reward engagement; give the people what they want; sell more. Brands on all ends of the spectrum are toying with this approach. Web3-native beauty brand Kiki is doing so from the get-go, inviting consumers to shape the brand and product from the ground up. And Try Your Best offers a gateway to Web3 community-building by inviting existing brands onto its blockchain-based platform, where they can reward consumers for engagement.
Honourable mentions: Kiki; Rare Beauty; Try Your Best
Nike
Photo: Rtfkt
In December, Rtfkt and Nike dropped a physical, NFC-tagged Dunk Genesis version of a digital wearable collectible that people claim by scanning the tag. In October, Nike released its physical edition of a .Swoosh product. These were two of many Nike-led NFT drops, all of which revolved around sneakers. To date, Nike’s Web3 efforts have centred around both its acquisition of Web3 sneaker brand Rtfkt and the ‘Dot Swoosh’ platform that houses its Web3 projects.
Key takeaway: Sneakers remain Web3’s favourite product. Nike isn’t the only company to zero in on sneakers as the physical counterpart to its NFTs. Sol3mates, Chalhoub Group’s first Web3-native brand, launched with sneakers. Luxury brands from Dior to Balmain also select sneakers as their NFC-chipped products of choice. Targeting sneakerheads appeared a successful strategy in the early days of Rtfkt, so it’s no wonder brands are running with it.
Honourable mentions: Sol3mates; Adidas x Moncler; Balmain x Space Runners; Endstate; Puma; Dior
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