Retail giant Gap has become the latest brand to enter the NFT market, joining Adidas, Dolce & Gabbana, and Louis Vuitton in unveiling a non-fungible version of its signature hoodie, marking its first entry into the market.
As part of Gap’s gamified digital experience, customers can buy a collection of limited-edition hoodies designed by Brandon Sines—the creator of Frank Ape.
“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,” Sines said in a statement. “I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.”
Gap’s NFTs, which are based on the Tezos blockchain, will be divided into four groups. “Common” is the initial and most accessible level, followed by “Rare,” “Epic,” and “One of a Kind.”
The Common pieces will cost 2 tez (XTZ) each (approximately $8.30) from now until 8:59 a.m. PT on Saturday. The Rare will be available for 6 tez on Saturday, the Epic for 100 tez on Tuesday, and the One of a Kind auction will begin on January 24 at 9 a.m. PT.
To gain entry to the Epic level, customers must first collect the hoodies from the Common and Rare levels first. The digital assets will be offered at Gap.com/nft on a first-come, first-served basis.
“Gap has always been at the intersection of music, art and culture,” said Chris Goble, Chief Product Officer and General Manager of Gap North America, “so we are excited about this growth opportunity in the digital space with artists like Brandon Sines.”