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Gap Makes Debut on Tezos by Launching NFT Collection

Gap, the world's largest clothing retailer, has entered the Non-Fungible Token (NFT) club by creating a gamified NFT collection on Tezos.

The Brandon Sines designed gamified NFT collection of Gap will run in the Tezos Blockchain.

Gap, the world’s largest clothing retailer, has entered the Non-Fungible Token (NFT) club by creating a gamified NFT collection that will run on the Tezos blockchain. Gap said on Wednesday that it will launch a gamified digital experience through which users will be able to acquire a limited-edition hoodie of the brand.  

Gap’s NFT collection, according to the formal release, will be constructed on the Tezos Blockchain and designed by the Frank Ape artist Brandon Sines.

The American clothing company revealed on Wednesday that the first batch of NFTs, which will be marketed at $9, will be introduced on Thursday. Gap decided to team up with Tezos, a more energy-efficient blockchain. 

Gap plans to issue the NFTs in the following stages: common, rare, epic, and one-of-a-kind. While the first batch will be the first to be sold, the rest of the stages will follow in weeks to come. 

Brandon Sines also made a statement confirming that “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.”

Gap’s digital NFT collection contains a unique “gamified” option through which users can unlock the opportunity of earning an epic NFT which entails a limited-edition Brandon Sines art piece as well as a limited-edition hoodie. 

Chief Product Officer and General Manager of Gap North America, Chris Goble said that “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 will join a long list of other well-known apparel labels, such as Burberry and Louis Vuitton, in launching their own NFTs in 2021 and gaining widespread acclaim for their efforts to accept and support the crypto industry. 

Also read: 

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Chinese Blockchain Infrastructure to Separate Crypto and NFTs

According to a BofA Analyst, Solana Might Become the “Visa of Crypto”

The Leading Italian Bank Reverses its Stance on The Cryptocurrency Ban

Expert Claims NFTs Will Be Everywhere in the Future Due to Proof of Ownership

 

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