Clothing brand Gap has announced that it will release non-fungible tokens (NFTS) in collaboration with studio Interpop and artist Frank Ape. The NFTs will have several degrees of rarity and some will be released with an exclusive physical sweatshirt.
Gap to offer non-fungible tokens
American clothing brand Gap announced via its official blog that it will release NFTs in a gradual fashion, offering increasingly rare pieces.
The non-fungible tokens (NFTs) will be created in partnership with the specialized studio Interpop via the blockchain Tezos (XTZ), which is particularly active in the NFTs sector in 2021. It had among others signed partnerships with the F1 teams Red Bull and Mc Laren, then announced just recently to team up with the French E-sport team Vitality.
The first collections will be created with the help of artist Brandon Sines, the creator of the fictional character Frank Ape, who has also become an NFT model.
The first NFTs will go on sale on January 13th around 6pm on the Gap dedicated website. For those interested, simply register here to create a Gap account. Note that by registering at this address, you also sign up for a Kukai digital wallet (for free), which is essential for sales.
About the partnership, Brian David-Marshall, Interpop’s studio director, said:
“We continue to discover exciting opportunities for brands and creators with the use of NFTs to unlock access to new products and bridge the gap between physical and digital ownership.”
Different prices for different rarities
The different NFTs offered by Gap will be released gradually and in order of rarity:
- The “classic” coins will go on sale on January 13 at around 6pm for 2 XTZ tokens (about €8);
- Rare” coins will go on sale on January 15 for 6 XTZ tokens (about 24 €);
- The “epic” coins will be put on sale on January 19 for 100 XTZ tokens (about 400 €);
- The “unique” coin will go on sale on January 24 for a price still unknown.
Buyers of “epic” level NFTs will also receive an exclusive Gap x Frank Ape sweatshirt for the occasion.
It will also be possible to create a “commemorative NFT” by collecting 4 classic level NFTs as well as 2 rare NFTs. This will allow collectors to then purchase a limited edition “epic” NFT.
Brands and NFTs
Gap thus follows in the footsteps of the sportswear brand Adidas, which had sold 30,000 NFTs last month and thus raised $23.5 million in just a few hours, or the brand COS, which had announced that it was working with VeChain to enable ultra-simplified traceability of its clothing.
So, whether it is to ride the hype wave of NFTs, the world of cryptocurrencies in general or to use the countless possibilities offered by blockchains, brands from all walks of life seem ready to invest in the digital world.
