Lacoste Dives into NFTs with Undw3: What You Need to Know

Lacoste’s Bold Move into the NFT Sea

Luxury brand Lacoste has dove headfirst into the realm of non-fungible tokens (NFTs) with their new project named Undw3, cleverly playing off their signature style and a hint of innovation. The brand has unveiled plans for a decentralized autonomous organization (DAO) that offers NFT holders the chance to influence future product designs and partnerships. A veritable Monopoly for the fashion-forward, if you will!

Minting Madness: The Details

On June 14, a total of 11,212 NFTs—an homage to Lacoste’s beloved L1212 polo shirt—were auctioned at a mint price of 0.08 Ether (ETH), equating to about $96 each. These digital collectibles showcase a sprightly animated alligator, playful yet posh, bobbing its head above water. Seems like our little amphibian friend has taken quite the liking to the digital realm, and apparently, there’s a lot of luxury waiting to be fetched from below the surface!

DAO: How Much Power Do NFT Holders Get?

With great power comes great responsibility—or at least, the expectation of it. Token holders will be able to participate in the creative process regarding Lacoste’s Underwater product line. While specifics of this creative influence are under wraps, holders can also expect some customization features in Lacoste’s clothing line. However, there’s a lingering question: Will these altered pieces come at a cost, or will they be generously gifted? Stay tuned!

Public Reaction: Mixed Bag of Critiques

Not everyone is fin-tastic about the idea of serving up creative labor for an NFT. One Twitter user put it bluntly, asking if they would be obliged to attend meetings and pay for the customized clothing they designed. Seems that not everyone is ready to roll out the red carpet for this digital revolution in fashion yet, huh?

Meanwhile in the NFT World: Scoop on Bored Apes

Speaking of NFTs, the Bored Ape Yacht Club (BAYC) isn’t just lounging around either. Despite a dip in floor prices to about 86 ETH, one brave soul went all in, purchasing Ape #7537 for a whopping 1,024 ETH (around $1.22 million)! To throw your arms up in disbelief might be an understatement. How do you even explain that one to your friends? “Can’t make rent this month, but at least I own a digital monkey!”

Bill Gates Thinks NFTs Are Silly, You Know

In a classic Gates-esque fashion, Microsoft co-founder Bill Gates mocked the NFT craze, decrying it as essentially based on a “greater fool theory.” Free advice for crypto enthusiasts: if you’re thinking about investing, maybe take a quote from Bill’s playbook and hold onto your pennies if you’re not in the billionaire’s club.

A New Trend in Political Fundraising?

In what can only be described as a novel approach, Colorado Governor Jared Polis has rolled out his own line of NFTs with a vibrant backstory—he’s standing in front of a rainbow-colored mountain, flanked by his dog, who is apparently channeling laser beams from her eyes. Priced at $52.80 each, Polis aims to raise funds for his gubernatorial campaign, proving that fundraising can also sport some trendy digital flair!

In Other Nifty News…

Don’t put away those crypto wallets just yet: OpenSea is making headlines with its migration to Seaport, promising lower gas fees among other perks! Meanwhile, the SEC has hopped on the investigation train, looking into crypto exchanges and their strategies to curb insider trading. A scandal waiting to unfold? Keep your eyes peeled!