The closure of Lacoste’s NFT project in 2022 has triggered suspicions of impropriety, with some raising concerns of a potential scam or rugpull within the community.
Lacoste, a well-known brand, delved into the NFT market at a time when the industry was already on a downward trend from its peak earlier in the year. The UNDW3 project, which included two collections launched over 2021 and 2022, saw a sharp decline in trading volumes on the OpenSea platform, leading to disillusionment among NFT holders.
Despite initial promises of added features and exclusivity at brand events, Lacoste abruptly ended the project, fueling speculations of a 1,000 ETH rugpull. The move has prompted criticism from some quarters, who question the legitimacy of the company’s actions.
While there have been no formal investigations initiated into Lacoste’s NFT project, the community is actively seeking answers in public forums. The sudden conclusion of the project has left NFT owners in a state of uncertainty, casting doubts on the integrity of the UNDW3 initiative.
Although Lacoste’s actions may not have breached any legal boundaries by discontinuing the project, the unexpected closure and suspected rugpull have raised ethical red flags. The future of the UNDW3 project remains uncertain, leaving NFT holders to ponder their next steps amidst potential losses.
In summary, Lacoste’s NFT project closure has stirred controversy and accusations of fraud. This episode serves as a cautionary tale about the risks inherent in volatile markets, emphasizing the need for thorough research and transparent practices in investment ventures.
