The Gap Apes Into NFTs
The clothing brand announced its NFT project in a statement from its site on Wednesday. The new collectibles were reportedly designed in partnership with Brandon Sines – the artist who created the Frank Ape NFTs. Gap said that Sines’ creation embodies self-expression, equality, and positivity, which align with the company’s “values of modern American optimism”.
“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,” said Sines. “I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.”
The collection of hoodies will be available in four rarity levels: Common, Rare, Epic, and One of a Kind. The common NFTs will be available from 9am PT on January 13th to 8:59am PT on January 15th. They’ll be sold for 2 tez each – about $8.30 at the time of writing.
Rare drops will be made available afterward for 6 tez each, with Epic drops available on the 19th for 100 tez each. Finally, the one-of-a-kind NFT will be sold through an auction, which begins on the 24th at 9am PT.
Gap has launched its collection through Tezos, which it markets itself as more energy-efficient due to its proof-of-stake consensus mechanism. Energy concerns are known to be bad PR for NFTs and the broader crypto sphere, with which various sub-communities have taken issue with.
“We are excited about the possibilities that a more planet-friendly blockchain technology can unlock for us and all the new ways it will enable us to connect with our customers.” said John Strain, Gap’s Chief Digital and Technology Officer.
Hopefully for the Gap, its collection can see more success than Ubisoft’s NFT launch last month, which barely sold a dozen NFTs for more than $400.
Featured Image Courtesy of BNN Bloomberg.