Today, Gap announced the global launch of its first collection of non-fungible tokens (NFTs) to bring its brand and iconic product to new and existing customers in a rapidly evolving digital ecosystem. For this launch, the brand is introducing a gamified digital experience celebrating creatives and giving customers the unique opportunity to own a limited edition, collectible Gap hoodie.<\/p>\n
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\u2019 art, which embodies positivity and equality, and aligns with Gap\u2019s values of modern American optimism.<\/p>\n
\u201cWith 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,\u201d said Sines. \u201cI cannot wait to share the physical and digital pieces we\u2019ve been working on with Gap and Frank fans worldwide.\u201d<\/p>\n
\u201cGap 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,\u201d said Chris Goble, Chief Product Officer and General Manager of Gap North America.<\/p>\n
As part of the company\u2019s commitment to do the right thing for the planet, 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.<\/p>\n
Available to shop exclusively on gap.com\/nft starting tomorrow, 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, will be on sale starting 9 a.m. PT on January 13 for 2 tez (XTZ) each until 8:59 a.m. PT on January 15.. Currently, 2 tez is roughly $8.30 USD, but exact conversion rates may vary based on market price fluctuations.<\/p>\n
Additional drops will be 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.<\/p>\n
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 \u2013 limited edition digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodie.<\/p>\n
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.<\/p>\n
“As part of our mission to create enduring customer relationships, our teams are constantly innovating,\u201d said John Strain, Chief Digital and Technology Officer. \u201cWe 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.\u201d<\/p>\n
Additional digital experiences are planned in the future, developed in partnership with culture shapers.<\/p>\n
To shop for Gap digital collectibles, visit gap.com\/nft #GapNFT<\/p>\n