Fashion brand, Gap zips into NFTs
Gap just announced its first foray into NFTs with the launch of its collection on the Tezos blockchain. The clothing retailer revealed that it is introducing a gamified digital experience with this launch, allowing customers to purchase a limited edition GAP hoodie.
For this collection, Gap partnered with Brandon Sines, who designed the NFTs. Sines is a New York artist and is the mind behind the lovable mystical creature, Frank Ape.
“Gap has always been at the intersection of music, art, and culture, so we are excited about this growth opportunity in the digital space with artists like Brandon Sines,” said Chris Goble, Chief Product Officer and General Manager of Gap North America.
The collectables are split into four classes based on price and rarity; Common, Rare, Epic, and One-of-a-Kind.
All the NFTs will be available for purchase on the Gap NFT web page starting January 13. Common will be the first on sale from 9 a.m. PT on January 13 till 8:59 a.m. PT on January 15 for 2 XTZ (around US$8.30).
Rare will be on sale on January 15 for 6 XTZ (US$24.90), Epic on January 19 for 100 XTZ (US$415.00) each, and the One of a Kind on auction on January 24, all beginning at 9 a.m. PT respectively.
Those who participated in the Common and Rare auctions would enjoy the opportunity to purchase the Epic – limited edition digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodie.
Gap also explained it chose to build its NFTs on Tezos due to the network’s energy efficiency. Tezos has a smaller carbon footprint than competitors like Ethereum, which aligns with Gap’s commitment to protecting the planet.
John Strain, chief digital and technology officer, commented, “We are excited about the possibilities that a more planet-friendly blockchain technology can unlock for us and all the new ways it will enable us to connect with our customers.”
We might be seeing more from the Gap brand soon, as it says it is working with “culture shapers” to create more digital experiences in the future.