Gap Inc has collaborated with Brandon Sines, the creator of Frank Ape, for its new NFT collection. It will launch on the Tezos blockchain.
Gap Inc. sees what the future of shopping is and they’re embracing it. The company just announced its entrance into the non-fungible token industry, which is all about appreciating creativity in digital ways. Gap’s gamified experience celebrates creatives in this space.
Gap Partners with Brandon Sines step into NFTs
Earlier today, Gap Inc. announced that it has partnered with Brandon Sines. The partnership saw Gap Inc. launch its first NFT collection, an innovative approach to create new streetwear pieces designed to be sold exclusively through the company’s e-commerce site starting later this year
The company posted in their blog introducing a gamified digital experience of creativity. During this launch, they are giving customers the opportunity to own limited, collectible hoodies.
Chris Goble, CPO of GAP NA region, said that the company is exploring the NFT space because it is interested in music, art, and culture.
Sines commented that “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. I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.”
Gap’s NFTs will be based on Tezos Blockchain
Gap has announced that it will launch its NFT collection on the Tezos blockchain. The company chose Tezos in its bid to provide the best customer experience possible. They added that Tezos uses an energy-efficient approach to secure its network, which will have a minimal environmental impact and minimal energy consumption.
Starting January 13th, 2022 The Gap NFTs will be exclusively available to buy on the company’s website. Four digital levels will be featured: common, rare, epic, and one of a kind.
One of the biggest stories in Tezos last year was the partnering with Red Bull Racing, one of the biggest names in Formula 1 when F1 racing was at its peak in North America-spurred by Netflix’s Drive to Survive.
Last year, the Tezos blockchain went through some difficulties when companies like Ubisoft partnered with them for their first-ever video game NFTs. These seemed to not receive much feedback so far since they were released. The partnerships Tezos has made with companies like Gap make it clear that they primarily aim to provide an enterprise-ready solution for companies looking to implement non-fungible tokens. Most recently, they partnered with Gap.
The Associated Press has announced that they’re selling their award-winning photos, including Pulitzer Prize-shot images, via an online marketplace.
Last year, sales of Non-Fungible Tokens (NFTs) hit $25 Billion. With even more entrants this year, it’s easy to see how the market could grow even more!