Apparel retailer Gap has launched its first collection of non-fungible tokens (NFTs), built on a “more energy-efficient” blockchain.
Customers can collect iconic Gap hoodie digital art at the Common and Rare levels to unlock the opportunity to purchase the Epic – limited edition digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodi.
Following in the footsteps of retailers and brands like Toys"R"Us, Coca-Cola, and Dolce & Gabbana, Gap is bringing its iconic product to customers in this rapidly evolving digital ecosystem. The retailer is introducing a gamified digital experience for the launch and giving customers the opportunity to own a limited edition, collectible Gap hoodie. Setting it apart form some other launches, Gap said it has chosen to leverage Tezos, an open source blockchain, to create the customer experience. Tezos uses a more energy efficient approach to secure its network, allowing it to operate with minimal energy consumption and a low carbon footprint.
For this release, Gap is collaborating with Brandon Sines, the artist behind Frank Ape, for a 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, the retailer 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,” said Sines. “I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.”
Available to shop exclusively on gap.com/nft, Gap's digital collectibles will feature four levels: Common, Rare, Epic and One of a Kind. Starting at an accessible price point, the first level, Common, went on sale for 2 tez (XTZ) each until January 15. Currently, 2 tez is roughly $8.30 USD, but exact conversion rates may vary based on market price fluctuations.
Additional drops are available over the next two weeks: Rare on January 15 for 6 tez, or roughly $24.90 USD each; Epic on January 19 for 100 tez or approximately $415.00 USD each; and the One of a Kind on Auction on January 24, all beginning at 9 a.m. PT respectively. The digital collectibles will be available on a first come, first served basis, with limited editions at the Rare and Epic levels.
Part of Gap's Rare NFT.
The gamified experience encourages customers to collect iconic Gap hoodie digital art at the Common and Rare levels to unlock the opportunity to purchase the Epic – limited edition digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodie.
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.
"As part of our mission to create enduring customer relationships, our teams are constantly innovating,” said John Strain, chief digital and technology officer. “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.”
Additional digital experiences are planned in the future Gap said, developed in partnership with culture shapers.