Luxury brand Lacoste has joined the web3 ecosystem with the launch of UNDW3 – pronounced underwater. The company announced this forward-looking move through a press release. The UNDW3 universe will let the Lacoste community participate in furthering the brand’s fashion-sport vision. According to the press release, UNDW3 allows Lacoste community members to own the brand in a creative way. In preparation for UNDW3’s launch, Lacoste rolled out its Discord server on June 6. The Discord channel will help keep each community member informed about developments in Lacoste’s web3 universe. Eager to see what the Lacoste web3 ecosystem comprises, over 30,000 people subscribed to the Discord channel within the first 48 hours of its launch. Lacoste plans to drop its first non-fungible token (NFT) collection on June 14. The collection will comprise 11,212 pieces, with each NFT going for 0.08 Ethereum (ETH), approximately $100-$120. The NFTs will feature unique images of the Lacoste crocodile emerging from the water. The number of NFTs represents the iconic L1212 polo shirt, which Lacoste founder René Lacoste invented. According to Catherine Spindler, Chief Brand Officer at Lacoste, “UNDW3 attests to our desire to accompany the phenomenon of decentralization driven by Web3 and bears witness to our ambitions in this area as well as to the power of our brand: to bring together our communities and connect cultures around the crocodile, a true rallying sign throughout the world, by proposing an experiential, interactive and co-creative universe, in the image of Lacoste’s creativity and avant-gardism.” The first step in a long journey By holding the Lacoste NFTs, collectors will get access to the brand’s web3 universe – a long-term collaborative community. Additionally, collectors will be able to access a pioneering ecosystem as well as digital and physical benefits in the Lacoste world. With its foray into the web3 ecosystem, Lacoste demonstrates its mission to connect various communities and cultures. Specifically, the initiative seeks to bring together NFTs, Lacoste fans, and pop culture enthusiasts. It is worth noting that UNDW3 is Lacoste’s initial step into the web3 ecosystem. Through UNDW3, Lacoste has become the latest fashion brand to join the emerging web3 ecosystem. In the past, brands like Gucci, Philipp Plein, and Louis Vuitton launched NFTs, signaling a growing web3 interest among fashion houses. Image by Engin Akyurt from Pixabay
QNT’s price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $100. QNT’s price continues to look weak as bearish market sentiments increase, with things looking uncertain for most traders and investors. QNT’s price looks weak and continues to trade below the daily 50 Exponential Moving Average (EMA) as bulls attempt to reclaim the region. The price action displayed by Quant (QNT) in previous weeks was not short of a spectacle but has yet to meet those expectations, with the price showing so much price action in recent weeks, rallying to a high of $240. Following the collapse of the FTX effect affecting small crypto projects like Genesis as the market continues to look weak on each passing day signifying the bottom is not yet in, leading to the price of many altcoins, including Quant (QNT), battling for survival. The Domino effect of the FTX saga on investors has left the market at a standstill as the market has yet to make a major move after previous weeks saw the price of QNT struggling to hold above $100. (Data from Binance) Related Reading: Crypto Market Loses $60B In Two Days As Bitcoin Price Plunges Quant (QNT) Price Analysis On The Weekly Chart The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline. The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases leading to more sell orders than buy orders as the price of QNT is left on balance. FTX and Genesis’s news have hugely impacted the price of altcoins, including QNT, which has escalated the price to a region of $100 as the price bounced off this region to reclaim $107, just a few prices above key support of $100. After the price of QNT closed below the weekly high of $150, there are high chances of the market going lower, with the prices of QNT looking weak. Weekly resistance for the price of QNT – $150. Weekly support for the price of QNT – $100. Price Analysis Of QNT On The Daily (1D) Chart The price of QNT remains considerably strong in the daily timeframe as the price trades above $100 support after bouncing off from the region of $91. The price of QNT trades at $107; the price needs to hold strong above this region for the price to rally to a high of $120, where it would face resistance to trend higher. If the price of QNT breaks below $100, we could see more sell-off. Daily resistance for the QNT price – $130. Daily support for the QNT price – $100. Related Reading: Ethereum Bullish Signal: Whales Add $1B More To Their Holdings Featured Image From NBTC, Charts From Tradingview
Dark days for crypto institutional investors as contagion fears are magnified and asset prices tumble.