In Brief:
- Gap’s first NFT collaboration is developed with Brandon Sines, the artist behind Frank Ape.
- The digital collectibles are divided into four categories: common, rare, epic, and one-of-a-kind.
- The NFT collection is built on energy-efficient blockchain Tezos.
In a rapidly expanding digital ecosystem, Gap announced the global launch of its first collection of non-fungible tokens (NFT) to offer its brand and iconic product to new and existing customers. For this launch, Gap is developing a gamified digital experience that honours creatives while also providing shoppers with a one-of-a-kind, limited-edition Gap hoodie.
Gap’s first NFT collaboration is developed with Brandon Sines, the artist behind Frank Ape, and is built on Tezos, a more energy-efficient blockchain.
“With this first venture into this new space, the company plans to learn more about how their customers want to engage in a digitally led world,” Gap said in its statement.
Sines, the creator of the Frank Ape cartoon, assisted in the creation of the collection, which is centred on Gap’s characteristic hoodie. Based on price and availability, the digital collectibles are divided into four categories: common, rare, epic, and one-of-a-kind. Additional digital experiences are planned for the future.
The common level will be accessible until January 15 for 2 tez, or around $8.30 a piece, depending on market swings, and will be available until then, while the other tiers will be available during the next two weeks. Consumers are encouraged to accumulate NFTs in order to gain access to limited-edition products through a gamification feature.
“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,” said Sines.
Gap Threads will have a gamification model that allows collectors of the Common and Rare NFTs to “unlock” the ability to purchase an Epic rarity NFT. Buyers of the Epic-level NFT will also receive an exclusive physical Gap x Frank Ape hoodie, and Gap Threads will have a gamification model that allows collectors of the Common and Rare NFTs to “unlock” the ability to purchase an Epic rarity NFT.
Gap teamed with Tezos because the platform places a premium on having a low carbon footprint. Gap could now avoid reaction by focusing on energy efficiency, as crypto forms like NFTs have sparked outrage for emitting significant emissions.
Adidas was the first to make a big move for NFTs and the metaverse last month, and now clothing giant The Gap is following suit. NFTs have become the latest craze for all the conglomerates, celebrities as well as politicians.
