French fashion brand Lacoste enters web3 with NFT launch

French apparel brand Lacoste has released its NFT project UNDW3 .

The move follows the launch of its Discord earlier this month.

The release comes despite wider market volatility in crypto and a recent drop in floor price of popular NFT projects.

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

The drop comes just a week after the brand launched a Discord server, which saw 30,000 subscribers in the first two days, the company said in a statement.

The number of NFTs i the release, 11,212, refers to a signature polo shirt by the brand called L1212. These will be sold for 0.08 ETH (roughly $97).

The project, called UNDW3 (pronounced "underwater"), will give collectors of the NFTs access to a "long-term collaborative community" Lacoste said in a press release.

"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," the release states.