Today, Gap announced the global launch of its first non-fungible token collection (NFT) to bring its iconic brand and products to new and existing customers in a fast-growing digital ecosystem. For this launch, the brand is introducing a gamified digital experience that celebrates creatives and gives customers the unique opportunity to own a collectible, limited edition Gap hoodie.
For this release, Gap collaborated with Brandon Sines, the artist behind it Frank Ape, for a limited edition drop. Community, creativity, and self-expression are core values in Sines’ art, embodying positivity and equality, and aligning with Gap’s modern American values of optimism.
“With this partnership with Gap, the creative cycle has come full circle as it allows me to express Frank Ape’s beautiful message while collaborating with one of the most classic brands in history,” said Sines. “I can’t wait to share the physical and digital work we’ve been working on with Gap and Frank fans around the world.”
“The Gap has always been at the intersection of music, arts and culture, so we are excited about the growth opportunities in this digital space with artists like Brandon Sines,” said Chris Goble, Chief Product Officer and General Manager, Gap North America.
As part of the company’s commitment to doing what’s right for the planet, the company has chosen to leverage Tezos, an open source blockchain, to create a customer experience. Tezos uses a more energy efficient approach to securing its grid, enabling it to operate with minimal energy consumption and a low carbon footprint.
Available to shop exclusively on gap.com/nft starting tomorrow, the Gap digital collection will feature four levels: Common, Rare, Epic and One Kind. Starting at an accessible price point, the first level, Common, will be on sale from 9am PT on January 13th for 2 tez each (XTZ) until 8:59am PT on January 15th. Currently, 2 tez is approximately $8.30 USD , however the exact conversion rate may vary based on fluctuations in market prices.
Additional drops will be available over the next two weeks: Rare on January 15 for 6 tez, or about $24.90 USD each, Epic on January 19 for 100 tez or about $415.00 USD each, and One of a Kind on Auction on January 24th, all starting at 9am PT each. The digital collection will be available on a first-come, first-served basis, with limited editions at Rare and Epic levels.
The gamified experience encourages customers to collect digital art of the iconic Gap hoodie at Common and Rare levels to unlock the opportunity to purchase Epic – limited edition digital art by Brandon Sines and a physical Gap x Frank Ape hoodie by Sines.
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 lasting customer relationships, our team is constantly innovating,” said John Strain, Chief Digital and Technology Officer. “We are excited about the possibility that a more planet-friendly blockchain technology could open up to us and all the new ways that it would allow us to connect with our customers.”
Additional digital experiences are planned in the future, developed in partnership with culture shapers.
To shop the Gap digital collection, visit gap.com/nft #GapNFT