Joining the ranks of Adidas, Gucci and Louis Vuitton, the American clothing company has officially launched its first collection of NFTs. It’s a series of collectibles, created in collaboration with Brandon Sines, the artist behind the friendly Frank Ape figure who dons home goods, apparel, prints and other digital NFT pieces.
NFTs, short for non-fungible token, have grown in popularity over the past year and now Gap has developed its own collection. With this launch, customers are encouraged to purchase a few Gap NFTs and earn the opportunity to nab a limited edition, physical Gap hoodie.
“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 is quoted in a press release. “I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.
“Gap has always been at the intersection of music, art and culture,” says Chris Goble, Chief Product Officer and General Manager of Gap North America, “so we are excited about this growth opportunity in the digital space with artists like Brandon Sines.”
Gap chose Tezos as a platform. The open-source blockchain technology uses an environmentally-friendly approach to minimize energy consumption and high carbon footprints.
It’s a gamified roll-out, which means NFTs will be released in four tiers: common, rare, epic, and one of a kind. Common NFTs are available now for 2 tez (XTZ) each, which converts to about $8.30 at press time. This sale will last until 8:59 a.m. PT on Friday, Jan. 15, then it’s followed by the rare drop, which sees NFTs go for 6 tez, or roughly $24.90 each.
The epic NFTs will become available Wednesday, Jan. 19, for 100 tez or $450.00 each, but you’ve got to collect common and rare Gap NFTs to gain access. It’s the same for the One of a Kind auction, which begins Monday, Jan. 24, at 9:00 a.m. PT.
Like most NFTs, the digital collectibles are only available on a first come, first serve basis, with more limited editions appearing in the rare and epic levels. The digital and physical hoodies come into play on the epic level. Learn more about the Gap NFT launch and grab your first assets at gap.com/nft.