#117 | Lacoste Evolving Online Shopping With NFT Virtual Stores??

Estimated Read Time: 6 minutes

Hey friends,

Great to have you with us today! In this Morning NFTea edition, we cover some bullish news from household clothing companies Lacoste and Reebok who are showing us yet the latest example in traditional brands leveraging NFTs. Let’s just jump in!

Lacoste Launches New Virtual Store

Founded nearly a century ago in 1933, Lacoste has become a staple in luxury brands around the world. Now, just a couple of Morning NFTea editions since we covered the announcement, Lacoste has officially opened their new virtual storefront that also features extra perks for its UNDW3 NFT holders. Partnering with Virtual Reality company Emperia, the virtual store in question is a new immersive shopping environment where fans can browse the latest stylish apparel from the comfort of their own home, ushering in a new age of online consumerism.

Although the idea of VR storefronts going mainstream is questionable in the current state of Web3, the interesting move here from Lacoste is how the store is not just for NFT holders, but has literally been created as a new take on how people can do their online shopping. However, if you are a loyal Lacoste enthusiast holding a UNDW3 NFT pass, then your online commerce is taken to another level. Not only do you get a secret underwater area of the shop but also access to exclusive perks like purchase discounts or limited edition community-created Lacoste clothing whose physical pieces come with digital twin NFTs so you can one day wear that same piece in the metaverse too. In addition to this, Lacoste will have a scavenger hunt inside all parts of the store awarding new prizes during each week of the summer.

Through this new initiative, Lacoste is not only rewarding their Web3 community with a strong brand-building and fan-focused experience but they are ambitiously looking to shake up the gigantic industry of online shopping. Instead of viewing clothing pictures on a 2D website, the idea of walking through a virtual store with 3D clothes is something that sounds truly futuristic, and that future is one embracing NFTs and Web3.

Reebok Embracing Web3 With VeeFriends

On the back of Lacoste’s Web3 endeavors and recent coverage like Nike’s NFT sneakers, Reebok — another multi-billion dollar company with a worldwide presence — is also looking to up their NFT game, but this time leveraging Gary Vee’s successful VeeFriends NFT community. The announcement came as a partnership with Reebok to bring the Aspiring Alpaca NFT character to life as a pair of sneakers. The sneakers, which are based on the Classic Nylon silhouette, will launch August 24th for $90 USD on Reebok and VeeFriends' websites with a portion of the sale proceeds benefitting the VeeFriends Foundation supporting charitable causes.

Founded in 1895 with a presence in over 170 countries, Reebok is yet the latest example of a high-influence traditional brand looking to leverage the emerging Web3 world. Except this time, gaining a headstart with the brand building Gary Vaynerchuck has created with the Veefriends IP that has his series 1 collection sitting at a 2 ETH floor price. In addition to the sneakers, the partnership will include a marketing campaign that spotlights an array of diverse talents who embody the Aspiring Alpaca's values of kindness, compassion, and determination. Featuring wellness leader Shahreen "Katz" Ahmed, rapper Esma Shmeit, and boxer Christian Robles.

Speaking on the partnership, Gary Vee said: ‘As a 1980s kid and pop culture enthusiast, you can imagine how thrilled I am to collaborate with Reebok. Everyone in the ‘80s was rocking those iconic sneakers, so I’m incredibly excited to extend VeeFriends to another consumer product like sneakers, which is at the forefront of popular culture. Working with the Reebok team has been a pleasure, and I can’t wait for everyone to rock the VeeFriends Aspiring Alpaca Classic Nylon!’

As NFT enthusiasts continue to get used to our current bear market, stories like this from Reebok or Lacoste exemplify the potential that Web3 has for the next generation of brand building and consumerism, we can’t wait for the rest of the world to catch up and we will definitely be here to report on it!

Much has happened in the NFT space even though the market has been relatively quiet. Let’s start off with a huge 800 ETH win play though…

The original tweet:

And how he accomplished it:

Meanwhile, debates have broken out over whether “whale” status holders should receive VIP treatment when Bored Ape Yacht Club whale PimpCapital failed to claim tickets to ApeFest happening this November.

Some people advocate that each member should be treated equally:

Whereas others take a different approach.

A quick final hitter — Kevin Rose sold all of his Captainz from Memeland, despite previously being an advisor for the project. What does this mean for Memeland or is this purely a matter of recouping liquidity? Only time will tell.

Thanks for joining us today! We hope you enjoyed this edition and look forward to giving you the next round-up. Take care!

Be honest! Your feedback helps us improve!

Connect with us on socials for a more personal experience!

Twitter: @MorningNFTea
Our Team: @BuckyGang | @Wickyy.eth | @subvert
Discord: Morning NFTea

DISCLAIMER:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.