Lacoste abruptly shutdown the website, Discord, and Twitter account belonging to "UNDW3", its NFT project. Lacoste launched its original collection of NFTs in June 2022, selling 11,212 of the tokens for 0.08 ETH (~$93 at the time). Lacoste made around $1 million off the mint, plus earnings from fees on secondary sales. Later announcements promised holders of the NFTs that they could participate in raffles to earn real-life merchandise and "digital twins". They were also promised a say in the future direction of the brand.However, that's vanished as the project was closed without any acknowledgement. People still have their NFTs, but can no longer earn benefits from Lacoste. Meanwhile, resale prices have dwindled to around 0.004 ETH (~$13). Angry token holders have accused Lacoste of a "soft rug pull".
Perhaps naming your crypto project "underwater" was an ill omen.
