Gap is the latest brand to join the NFT domain.
Following the likes of Adidas, Dolce & Gabbana, and Louis Vuitton, the retail giant has officially launched non-fungible tokens of its classic hoodie, marking its first foray into the NFT sector. The move introduces Gap’s playful digital experience in which customers are encouraged to purchase a range of limited-edition sweatshirts designed by Brandon Sines, the creator of Frank Ape.
“With this partnership with Gap, the creative cycle has come full circle as it allows me to express the beautiful messages of Frank Ape while collaborating with one of the most classic brands in history,” Sines said in a statement. communicated. “I look forward to sharing the physical and digital pieces we’ve been working on with Gap and Frank fans around the world.”
Gap’s NFTs, which have been built on the Tezos blockchain, will be available in four different categories. The first level, the most accessible, is “Common”, followed by “Rare”, then “Epic” and finally “One of a Kind”. Common coins can be purchased now until 8:59 a.m. PT on Saturday and will cost 2 tez (XTZ) each (about $8.30). The Rare drops Saturday for 6 tez each; Epic Tuesday for 100 tez each; and the One of a Kind auction will begin on January 24 at 9 a.m. PT.
Customers will need to collect the hoodies at the common and rare tiers to unlock access to the epic tier. Digital assets will be available on a first-come, first-served basis at Gap.com/nft.
“Gap has always been at the intersection of music, art and culture,” said Chris Goble, Chief Product Officer and General Manager of Gap North America, “so we’re excited about this opportunity for growth in digital space with artists like Brandon Sines. ”