Following Nike, Givenchy and adidas, Gap introduces GAPthreads entering the NFT space. The brand's first digital collection features hoodie art with a limited-edition, gamified digital experience built on the Tezos blockchain.
For its release, the fashion retailer connected with Brandon Sines, the artist behind the NYC-based Frank Ape project, to create digital art featuring Gap's iconic hoodies. Gap's digital collectibles are tiered on four levels - Common, Rare, Epic and One-of-a-Kind - with Common being the first release. Each NFT from this initial drop is priced at 2 tez (XTZ), or about $8.30 USD.
Additional drops will take place over the next two weeks, including the Rare drop on January 15th at 6 tez each ($25 USD), the Epic drop on January 19th priced at 100 tez ($415 USD) each and the One-of-a-Kind auction on January 24th.
"The gasified experience encourages customers to collect iconic Gap hoodie digital art at the Common and Rare levels to unlock the opportunity to purchase the Epic - limited edition digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodie,"
the company explained, nothing that additional digital experiences are being planned for the future.
Gap has scaled back its physical presence over the past few years, retreating from the shopping malls it was once a mainstay in. Through the NFT-ification is noteworthy, this isn't the first time Gap has rolled out a special edition drop. The company saw success and buzz around the Yeezy Gap Hoodie in September, which Gap says resulted in the most sales of an item in a single day.