Fashion Retailer Gap Debuts First NFT Collection on Tezos Blockchain

Clothing retailer Gap is launching its first NFT collaboration with a limited-edition, gamified digital experience built on the Tezos blockchain. For this, the fashion retailer collaborated with Brandon Sines, the artist behind the NYC-based Frank Ape project, to create digital art featuring Gap’s iconic hoodies. Beginning Thursday at 9 a.m. PT, Gap’s digital collectibles will feature four levels- Common, Rare, Epic, and One-of-a-Kind, with Common being the first release. Each NFT from this initial drop will be priced at 2 tez (XTZ), or about $8.30. Additional drops will take place over the next two weeks, including the Rare drop on January 15 at 6 tez each ($25), the Epic drop on January 19 at 100 tez ($415) each and the One-of-a-Kind NFT to be auctioned on January 24. The collection will be available to shop exclusively on gap.com/nft and will be available on a first-come, first-served basis. “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,” said Chris Goble, Chief Product Officer and General Manager of Gap North America. “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.”  The company is leveraging Tezos, a proof-of-stake blockchain network that uses a more energy-efficient approach to secure its network with a low carbon footprint. The company is one of many fashion labels to enter the world of NFTs and metaverse. For instance, major fashion brands including Burberry, Louis Vuitton, Gucci, and Ralph Lauren too have dabbled in the nascent industry last year in an effort to promote their brands.

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