- Gap has teamed up with Frank Ape NFT collection creator to launch its first collectible.
- The US clothing and accessories giant said the first drop will be available for bidding starting Jan. 13, from 9:00 AM PT.
- Gap Inc. is using Tezos’ energy-efficient open-source blockchain ecosystem for the NFT drop.
Gap Inc. a popular clothing and accessories company, has become the latest brand to dive into the world of NFTs. The company announced its collection launch Wednesday, teaming up with Frank Ape creator Brandon Sines.
The collection is based on the Tezos blockchain ecosystem and will be available to collectors on Thursday at 9:00 AM PT on gap.com/nft. Gap said it chose Tezos blockchain because its proof-of-stake ecosystem consumes less energy to mint NFTs as compared to the proof-of-work Ethereum ecosystem. The collection pricing starts from a floor price of 2 tez (~$8.30)
“As part of the company’s commitment to do the right thing for the planet, it has chosen to leverage Tezos, an open-source blockchain, to create the customer experience,” the company wrote in an article announcing the launch.
Gap wants to extend its reach to a new and existing customer base that continues to embrace the evolution of the digital ecosystem. In its first launch, the brand is “introducing a gamified digital experience celebrating creatives, giving its customers an opportunity to own a limited edition, collectible Gap hoodie.”
The company has sought the creative genius behind Frank Ape, Sines, for the limited edition drop. “Community, creativity, and self-expression are core values in Sines’ art, which embodies positivity and equality, and aligns with Gap’s values of modern American optimism.”
Commenting on the collaboration, Sines expressed his joy at partnering with one of the top classic brands in history. “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,” he said.
Chris Goble, Chief Product Officer and General Manager of Gap North America echoed those remarks, citing the exciting opportunity in the digital space.
“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.”
Gap’s digital collectibles will be released in four levels including Common, Rare, Epic and One of a Kind.
The company said the first level, Common, will be the first to go live with additional drops scheduled over the coming weeks.
Gap is using its NFT drop to understand its digitally-engaged customers better, helping it to roll out products that are in tune with consumer trends.
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