Fashion giant GAP joins the NFT space through the Tezos blockchain
American clothing and accessories brand The GAP has joined the NFT frenzy by launching its first collection of non-fungible tokens (NFTs). The company unveiled this news through a press release earlier today, noting that its foray into the booming NFT industry seeks to expose its iconic brand and products to new and existing customers.
According to the news release, The GAP seeks to launch a gamified digital experience to celebrate creatives and offer consumers a unique opportunity to own a limited edition collectible GAP hoodie. The company disclosed that it had partnered with Brandon Sines, the artist behind Frank Ape, in this release.
Explaining why it decided to join hands with Sines, GAP said his art is based on community, creativity, and self-expression, values that depict equality and positivity. GAP added that these qualities align with its principles of modern American optimism.
Commenting on this collaboration, Sines said,
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. I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.
Doing right by the planet
As part of its dedication to making Earth a better place, GAP chose to leverage the Tezos blockchain, which uses an energy-efficient approach to secure its network, thus enabling it to operate at low energy requirements and a low carbon footprint.
GAP’s NFTs will be available, starting January 13. Reportedly, the collection features four distinct levels. These are Common, Rare, Epic, and One of a Kind. The sale of NFTs in the first level will commence at 5:00 PM UTC on January 13 and end at 4:59 PM UTC on January 15. Each NFT in this category will go for 2 Tezos (XTZ) or approximately $8.30.
The other drops will come starting January 15, with Rare going for 6 XTZ (approximately $24.90). Epic pieces will drop on January 19 for 100 XTX (roughly $415). The One-of-a-Kind NFT will go on auction on January 24. According to GAP, limited edition NFTs in the Rare and Epic levels will be available on a first-come-first-served basis.
Unlike in other NFT collections, collecting NFTs in the Common and Rare levels will unlock opportunities to buy the Epic limited-edition digital art by Sines and a physical GAP x Frank Ape by Sines hoodie.
Commenting on GAP’s NFT foray, the company’s Chief Digital and Technology Officer, John Strain, said,
As part of our mission to create enduring customer relationships, our teams are constantly innovating. 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.