Fashion giant GAP is entering the NFT industry via Tezo’s blockchain

The well-known American manufacturer of clothing and accessories The GAP wants to take advantage of the boom in the NFT industry. The company has launched its first collection of Non-Fungible Tokens (NFTs). The company announced the news in a press release today, stating that with this push, it aims to introduce its iconic brand and products to new customers. The NFTs will be embossed on Tezo’s blockchain.

According to the press release, The GAP wants to celebrate the creativity of people through a digital gaming experience. Users will also have the option to purchase a limited edition GAP hoodie. For this NFT drop, the company partnered with Brandon Sines. This is the digital artist who designed Frank Ape NFTs.

GAP explained why they chose to work with Sines, saying their art is based on community, creativity and self-expression. And these are all values ​​that represent equality and positivity. GAP added that these qualities are consistent with the principles of modern American optimism.

1

minimum deposit

100

Exclusive offer

73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Sines also commented on this collaboration. He said:

Partnering with Gap comes full circle creatively as it allows me to express Frank Ape’s messages while collaborating with one of the most iconic brands in history. I can not wait to share the physical and digital pieces we have been working on with Gap and Frank fans worldwide.

Tezos – an environmentally friendly blockchain

Like so many other companies these days, GAP claims to want to make the world a better place. Therefore, the fashion brand decided to work with Tezo’s blockchain instead of the Ethereum chain, which is more commonly used in NFTs. It uses an energy-efficient approach, as this is where proof-of-stake comes into play. The transactions thus have a low energy requirement and leave a small CO2 footprint.

GAP’s NFTs will be available from January 13. The collection reportedly includes four different levels. These are Common, Rare, Epic and One of a Kind. The sale of first-tier NFTs starts on January 13 at. 18:00 CET and ends on January 15 at. 17:59 CET. Each NFT in this category sells for 2 Tezos (XTZ) or around $ 8.30.

The other drops come on January 15, with Rare set to cost 6 XTZ (around $ 24.90). Epic Pieces will be available on January 19 for 100 XTZ (approximately US $ 415). The unique NFT will be auctioned on January 24th. According to GAP, limited edition NFTs will be available in rare and epic levels on a first-come, first-served basis.

GAP-NFTs offer additional options

Unlike other NFT collections, collecting NFTs on both regular and rare levels unlocks the ability to unlock the epic limited edition of digital art from Sines. NFT owners will also get a chance to purchase a GAP x Frank Ape from Sines Hoodie.

Commenting on his firm’s plans for the NFT market, John Strain, one of GAP’s top executives, said:

As part of our mission to create lasting customer relationships, our teams are constantly innovating. We are excited about the opportunities that a greener blockchain technology can open up for us. And all the new ways it enables us to connect with our customers.

Leave a Comment